ICL Group Ltd (ICL) to Issue Quarterly Dividend of $0.04 on March 25th

ICL Group Ltd (NYSE:ICL) announced a quarterly dividend on Thursday, February 27th, Wall Street Journal reports. Stockholders of record on Wednesday, March 12th will be given a dividend of 0.0403 per share by the basic materials company on Tuesday, March 25th. This represents a $0.16 annualized dividend and a dividend yield of 2.67%. The ex-dividend date is Wednesday, March 12th. This is a 203.0% increase from ICL Group’s previous quarterly dividend of $0.01.

ICL Group has decreased its dividend payment by an average of 3.5% per year over the last three years. ICL Group has a dividend payout ratio of 45.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect ICL Group to earn $0.42 per share next year, which means the company should continue to be able to cover its $0.21 annual dividend with an expected future payout ratio of 50.0%.

ICL Group Trading Down 0.6 %

NYSE:ICL opened at $6.04 on Monday. The company has a market capitalization of $7.93 billion, a P/E ratio of 19.47, a PEG ratio of 7.10 and a beta of 1.21. The firm has a fifty day simple moving average of $5.78 and a 200-day simple moving average of $4.87. ICL Group has a 12 month low of $3.79 and a 12 month high of $6.57. The company has a current ratio of 1.56, a quick ratio of 0.91 and a debt-to-equity ratio of 0.30.

ICL Group (NYSE:ICL) last posted its earnings results on Wednesday, February 26th. The basic materials company reported $0.08 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.08. The company had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.65 billion. ICL Group had a net margin of 5.83% and a return on equity of 8.31%. On average, equities research analysts anticipate that ICL Group will post 0.37 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on ICL shares. StockNews.com downgraded shares of ICL Group from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 27th. Barclays boosted their target price on shares of ICL Group from $6.00 to $7.00 and gave the company an “equal weight” rating in a research report on Wednesday, March 5th. Finally, BMO Capital Markets upped their price objective on shares of ICL Group from $6.00 to $6.50 and gave the stock a “market perform” rating in a research report on Thursday, February 27th.

ICL Group Company Profile

ICL Group Ltd, together with its subsidiaries, operates as a specialty minerals and chemicals company worldwide. It operates in four segments: Industrial Products, Potash, Phosphate Solutions, and Growing Solutions. The Industrial Products segment produces bromine out of a solution that is a by-product of the potash production process, as well as bromine-based compounds; produces various grades of potash, salt, magnesium chloride, and magnesia products; and produces and markets phosphorous-based flame retardants and other phosphorus-based products.