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 paid a dividend of 0.0403 per share by the basic materials company on Tuesday, March 25th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 2.68%. The ex-dividend date of this dividend is Wednesday, March 12th. This is a positive change 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 payout ratio of 43.8% indicating that 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 Price Performance

Shares of ICL opened at $6.02 on Friday. ICL Group has a twelve month low of $3.79 and a twelve month high of $6.57. The firm’s fifty day simple moving average is $5.67 and its 200-day simple moving average is $4.80. The firm has a market capitalization of $7.90 billion, a price-to-earnings ratio of 19.40, a PEG ratio of 7.10 and a beta of 1.23. 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 announced its quarterly earnings results on Wednesday, February 26th. The basic materials company reported $0.08 EPS for the quarter, hitting the consensus estimate of $0.08. ICL Group had a net margin of 5.83% and a return on equity of 8.31%. The firm had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.65 billion. Equities analysts forecast that ICL Group will post 0.37 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. StockNews.com downgraded shares of ICL Group from a “strong-buy” rating to a “buy” rating in a research report on Thursday. BMO Capital Markets raised 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. Finally, Barclays raised shares of ICL Group from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $4.00 to $6.00 in a research report on Tuesday, January 21st.

About ICL Group

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.