Sociedad Quimica y Minera S.A. (SQM) Announces Dividend Increase – $0.38 Per Share
Sociedad Quimica y Minera S.A. (NYSE:SQM) announced a semiannual dividend on Monday, August 28th, Wall Street Journal reports. Investors of record on Friday, September 8th will be paid a dividend of 0.3843 per share by the basic materials company on Monday, September 25th. This represents a yield of 1.63%. The ex-dividend date is Thursday, September 7th. This is a boost from Sociedad Quimica y Minera’s previous semiannual dividend of $0.15.
Sociedad Quimica y Minera has decreased its dividend by an average of 9.7% annually over the last three years and has increased its dividend every year for the last 3 years. Sociedad Quimica y Minera has a dividend payout ratio of 33.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect Sociedad Quimica y Minera to earn $1.66 per share next year, which means the company should continue to be able to cover its $0.50 annual dividend with an expected future payout ratio of 30.1%.
Shares of Sociedad Quimica y Minera (NYSE SQM) traded down 1.07% during mid-day trading on Monday, reaching $47.20. The company had a trading volume of 753,512 shares. Sociedad Quimica y Minera has a 52-week low of $24.75 and a 52-week high of $48.12. The stock has a market capitalization of $12.57 billion, a P/E ratio of 36.42 and a beta of 1.06. The company’s 50-day moving average is $40.55 and its 200 day moving average is $35.94.
Sociedad Quimica y Minera (NYSE:SQM) last posted its earnings results on Wednesday, August 23rd. The basic materials company reported $0.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by $0.01. The company had revenue of $505.70 million for the quarter, compared to analyst estimates of $500.49 million. Sociedad Quimica y Minera had a return on equity of 14.81% and a net margin of 16.28%. Analysts anticipate that Sociedad Quimica y Minera will post $1.55 EPS for the current fiscal year.
A number of research firms have recently issued reports on SQM. Zacks Investment Research upgraded shares of Sociedad Quimica y Minera from a “hold” rating to a “buy” rating and set a $49.00 target price for the company in a research note on Wednesday, August 23rd. BidaskClub raised shares of Sociedad Quimica y Minera from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, August 2nd. BMO Capital Markets reaffirmed a “hold” rating and set a $35.00 price target on shares of Sociedad Quimica y Minera in a research report on Friday, July 7th. Deutsche Bank AG raised their price target on shares of Sociedad Quimica y Minera from $36.00 to $38.00 and gave the stock a “hold” rating in a research report on Monday, May 22nd. Finally, Vetr raised shares of Sociedad Quimica y Minera from a “buy” rating to a “strong-buy” rating and set a $38.88 price target on the stock in a research report on Wednesday, May 3rd. Four investment analysts have rated the stock with a hold rating, two have issued a buy rating and two have issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $39.18.
About Sociedad Quimica y Minera
Sociedad Quimica y Minera de Chile SA (SQM), is a producer of potassium nitrate and iodine. The Company produces specialty plant nutrients, iodine derivatives, lithium and its derivatives, potassium chloride, potassium sulfate and certain industrial chemicals. Its segments include specialty plant nutrients, industrial chemicals, iodine and derivatives, lithium and derivatives, potassium, and other products and services.
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