Southern Copper Corp (NYSE:SCCO) declared a special dividend on Thursday, February 7th, Wall Street Journal reports. Shareholders of record on Monday, February 11th will be paid a dividend of 0.444 per share by the basic materials company on Thursday, February 21st. This represents a dividend yield of 4.86%. The ex-dividend date of this dividend is Friday, February 8th.
Southern Copper has raised its dividend payment by an average of 60.3% per year over the last three years and has raised its dividend every year for the last 2 years. Southern Copper has a dividend payout ratio of 68.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Southern Copper to earn $2.33 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 68.7%.
Shares of Southern Copper stock traded down $1.38 during mid-day trading on Thursday, reaching $32.92. 1,313,452 shares of the stock traded hands, compared to its average volume of 1,200,656. Southern Copper has a fifty-two week low of $29.01 and a fifty-two week high of $58.09. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.71 and a quick ratio of 1.88.
About Southern Copper
Southern Copper Corporation engages in mining, exploring, smelting, and refining copper and other minerals in Peru, Mexico, Argentina, Chile, and Ecuador. The company is involved in the mining, milling, and flotation of copper ore to produce copper and molybdenum concentrates; smelting of copper concentrates to produce blister and anode copper; refining of anode copper to produce copper cathodes; production of molybdenum concentrate and sulfuric acid; production of refined silver, gold, and other materials; and mining and processing of zinc and lead.
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