Israel Chemicals Ltd (ICL) Increases Dividend to $0.05 Per Share

Israel Chemicals Ltd (NYSE:ICL) declared a quarterly dividend on Monday, November 5th, Wall Street Journal reports. Investors of record on Tuesday, December 4th will be given a dividend of 0.051 per share by the basic materials company on Wednesday, December 19th. This represents a $0.20 annualized dividend and a dividend yield of 3.48%. The ex-dividend date of this dividend is Monday, December 3rd. This is a boost from Israel Chemicals’s previous quarterly dividend of $0.04.

Israel Chemicals has increased its dividend payment by an average of 23.6% annually over the last three years. Israel Chemicals has a payout ratio of 55.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Israel Chemicals to earn $0.38 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 52.6%.

ICL stock opened at $5.86 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.73 and a current ratio of 1.34. Israel Chemicals has a 52 week low of $3.85 and a 52 week high of $6.90. The stock has a market capitalization of $7.64 billion, a P/E ratio of 15.42, a price-to-earnings-growth ratio of 1.67 and a beta of 1.07.

Israel Chemicals (NYSE:ICL) last released its quarterly earnings results on Thursday, November 1st. The basic materials company reported $0.10 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.09 by $0.01. Israel Chemicals had a net margin of 23.84% and a return on equity of 13.67%. The business had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.38 billion. During the same period in the prior year, the company posted $0.09 earnings per share. Israel Chemicals’s revenue was down 4.8% compared to the same quarter last year. On average, analysts predict that Israel Chemicals will post 0.37 EPS for the current year.

A number of equities research analysts have issued reports on ICL shares. Zacks Investment Research upgraded shares of Israel Chemicals from a “sell” rating to a “hold” rating in a research note on Wednesday, August 29th. Jefferies Financial Group reiterated a “hold” rating and set a $6.57 price objective on shares of Israel Chemicals in a research note on Sunday, October 21st. BMO Capital Markets reiterated a “hold” rating and set a $5.25 price objective on shares of Israel Chemicals in a research note on Wednesday, September 19th. Finally, ValuEngine upgraded shares of Israel Chemicals from a “hold” rating to a “buy” rating in a research note on Friday, August 24th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $5.69.

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About Israel Chemicals

Israel Chemicals Ltd. operates as a specialty minerals company worldwide. The company operates through two segments, Essential Minerals and Specialty Solutions. The company extracts potash from the Dead Sea; mines and produces potash, salt, and Polysulphate; and produces, markets, and sells pure magnesium and magnesium alloys, as well as produces dry carnallite and related by-products, including chlorine and sylvinite.

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Dividend History for Israel Chemicals (NYSE:ICL)

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