Innospec Inc. (NASDAQ:IOSP) Declares $0.92 Dividend

Innospec Inc. (NASDAQ:IOSP) announced a dividend on Thursday, May 7th. Investors of record on Tuesday, May 19th will be given a dividend of 0.92 per share by the specialty chemicals company on Friday, May 29th. This represents a yield of 240.0%. The ex-dividend date of this dividend is Tuesday, May 19th.

Innospec has raised its dividend by an average of 0.1%per year over the last three years and has raised its dividend annually for the last 11 consecutive years. Innospec has a dividend payout ratio of 26.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Innospec to earn $6.26 per share next year, which means the company should continue to be able to cover its $1.74 annual dividend with an expected future payout ratio of 27.8%.

Innospec Trading Up 4.6%

IOSP traded up $3.54 on Friday, hitting $80.18. 22,800 shares of the company’s stock were exchanged, compared to its average volume of 213,931. Innospec has a fifty-two week low of $65.51 and a fifty-two week high of $95.55. The firm has a 50-day moving average price of $73.65 and a 200-day moving average price of $76.59. The stock has a market cap of $2.00 billion, a price-to-earnings ratio of 17.19, a P/E/G ratio of 2.09 and a beta of 0.90.

Innospec (NASDAQ:IOSP) last announced its earnings results on Friday, May 8th. The specialty chemicals company reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.03. Innospec had a net margin of 6.56% and a return on equity of 10.18%. The company had revenue of $453.20 million for the quarter, compared to analysts’ expectations of $432.14 million. During the same quarter in the previous year, the company posted $1.42 EPS. The firm’s quarterly revenue was up 2.8% on a year-over-year basis. On average, equities analysts predict that Innospec will post 4.96 EPS for the current year.

About Innospec

Innospec Incorporated (NASDAQ: IOSP) is a global specialty chemicals company headquartered in Cleveland, Ohio. The company operates through three principal business segments: Fuel Specialties, Oilfield Services, and Performance Chemicals. In the Fuel Specialties segment, Innospec develops and supplies additives designed to enhance octane levels, improve combustion efficiency, reduce emissions and prevent deposit formation in gasoline and diesel engines. Its Oilfield Services division provides chemical technologies—such as surfactants, corrosion inhibitors and demulsifiers—to support exploration, drilling, production optimization and enhanced oil recovery operations.