ICL Group Ltd. (ICL) to Distribute Quarterly Dividend of $0.06 on September 16th

ICL Group Ltd. (NYSE:ICL) announced a quarterly dividend on Tuesday, August 4th. Stockholders of record on Wednesday, September 2nd will be paid a dividend of 0.0581 per share by the basic materials company on Wednesday, September 16th. This represents a c) annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend is Wednesday, September 2nd. This is a 8.6% increase from ICL Group’s previous quarterly dividend of $0.05.

ICL Group has raised its dividend payment by an average of 0.1%per year over the last three years. ICL Group has a dividend payout ratio of 36.2% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect ICL Group to earn $0.46 per share next year, which means the company should continue to be able to cover its $0.17 annual dividend with an expected future payout ratio of 37.0%.

ICL Group Trading Up 0.2%

Shares of NYSE ICL opened at $5.61 on Monday. ICL Group has a fifty-two week low of $4.76 and a fifty-two week high of $6.97. The firm has a market capitalization of $7.24 billion, a P/E ratio of 23.38 and a beta of 0.96. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.58 and a quick ratio of 0.94. The company’s 50 day simple moving average is $5.23 and its 200 day simple moving average is $5.45.

ICL Group (NYSE:ICL) last issued its earnings results on Wednesday, August 5th. The basic materials company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.11 by $0.01. The company had revenue of $2.13 billion during the quarter, compared to analysts’ expectations of $2.01 billion. ICL Group had a net margin of 3.95% and a return on equity of 8.40%. On average, analysts predict that ICL Group will post 0.44 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on ICL shares. Weiss Ratings reiterated a “hold (c)” rating on shares of ICL Group in a research report on Friday, July 31st. Wall Street Zen upgraded shares of ICL Group from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. Finally, Barclays reduced their target price on shares of ICL Group from $7.00 to $6.00 and set an “equal weight” rating for the company in a research note on Monday, July 27th. Two research analysts have rated the stock with a Hold rating, According to MarketBeat.com, ICL Group currently has a consensus rating of “Hold” and an average price target of $6.00.

About ICL Group

ICL Group is a global specialty minerals and chemicals company headquartered in Tel Aviv, Israel. Established in its current form through the consolidation of Israeli government–owned chemical operations, ICL has evolved into a publicly traded entity on the New York Stock Exchange (NYSE: ICL). The company’s origins date back to state-driven mineral extraction in the Negev and the Dead Sea region, and over the decades it has grown through strategic acquisitions, technological innovation and a gradual privatization process completed in the early 2010s.

ICL’s core operations are organized into three principal business areas.