Imperial Oil Limited Announces Quarterly Dividend of $0.43 (NYSEAMERICAN:IMO)

Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) declared a quarterly dividend on Monday, November 4th, Wall Street Journal reports. Investors of record on Tuesday, December 3rd will be given a dividend of 0.4304 per share by the energy company on Wednesday, January 1st. This represents a $1.72 annualized dividend and a dividend yield of 2.43%. The ex-dividend date is Tuesday, December 3rd.

Imperial Oil has raised its dividend by an average of 42.8% annually over the last three years. Imperial Oil has a payout ratio of 29.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Imperial Oil to earn $5.34 per share next year, which means the company should continue to be able to cover its $1.72 annual dividend with an expected future payout ratio of 32.2%.

Imperial Oil Stock Up 0.1 %

Shares of NYSEAMERICAN:IMO traded up $0.05 during midday trading on Monday, reaching $70.77. The company had a trading volume of 605,974 shares, compared to its average volume of 401,331. The firm has a market cap of $37.40 billion, a PE ratio of 10.02 and a beta of 1.44. The company has a current ratio of 1.40, a quick ratio of 1.16 and a debt-to-equity ratio of 0.17. Imperial Oil has a one year low of $52.97 and a one year high of $80.17.

Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) last posted its quarterly earnings results on Friday, November 1st. The energy company reported $1.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.48 by $0.23. The business had revenue of $9.72 billion for the quarter, compared to analyst estimates of $11.29 billion. Imperial Oil had a return on equity of 22.73% and a net margin of 10.05%. On average, equities research analysts anticipate that Imperial Oil will post 6.14 EPS for the current fiscal year.

Analyst Ratings Changes

IMO has been the topic of several analyst reports. StockNews.com cut Imperial Oil from a “buy” rating to a “hold” rating in a research report on Wednesday, August 28th. Wolfe Research assumed coverage on shares of Imperial Oil in a research note on Thursday, July 18th. They set an “outperform” rating and a $108.00 price objective on the stock. Finally, Scotiabank reiterated a “sector perform” rating and issued a $110.00 target price on shares of Imperial Oil in a research report on Wednesday, September 25th. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Imperial Oil presently has a consensus rating of “Hold” and a consensus price target of $101.00.

About Imperial Oil

Imperial Oil Limited engages in exploration, production, and sale of crude oil and natural gas in Canada. The company operates through three segments: Upstream, Downstream and Chemical segments. The Upstream segment explores and produces crude oil, natural gas, synthetic crude oil, and bitumen. The Downstream segment transports and refines crude oil, blends refined products, and distributes and markets of refined products.