Imperial Oil Limited (NYSEAMERICAN:IMO) to Issue Dividend Increase – $0.50 Per Share

Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) declared a quarterly dividend on Monday, February 3rd,Wall Street Journal reports. Investors of record on Wednesday, March 5th will be given a dividend of 0.4972 per share by the energy company on Tuesday, April 1st. This represents a $1.99 annualized dividend and a yield of 2.97%. The ex-dividend date of this dividend is Wednesday, March 5th. This is an increase from Imperial Oil’s previous quarterly dividend of $0.43.

Imperial Oil has increased its dividend payment by an average of 32.3% per year over the last three years. Imperial Oil has a dividend payout ratio of 26.6% meaning its dividend is sufficiently covered by earnings. Analysts expect Imperial Oil to earn $6.39 per share next year, which means the company should continue to be able to cover its $1.67 annual dividend with an expected future payout ratio of 26.1%.

Imperial Oil Stock Up 0.3 %

Shares of NYSEAMERICAN IMO traded up $0.22 on Monday, hitting $66.86. The company’s stock had a trading volume of 738,169 shares, compared to its average volume of 593,666. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.44 and a quick ratio of 1.23. The company has a market capitalization of $34.03 billion, a PE ratio of 10.15 and a beta of 1.44. Imperial Oil has a 12-month low of $55.82 and a 12-month high of $80.17.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. JPMorgan Chase & Co. downgraded shares of Imperial Oil from a “neutral” rating to an “underweight” rating in a report on Thursday, December 19th. Wolfe Research lowered Imperial Oil from an “outperform” rating to a “peer perform” rating in a research report on Friday, January 3rd. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, Imperial Oil has a consensus rating of “Hold” and a consensus price target of $109.00.

Imperial Oil Company Profile

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.