Westlake Corporation (WLK) To Go Ex-Dividend on May 27th

Westlake Corporation (NYSE:WLK) announced a quarterly dividend on Friday, May 15th. Shareholders of record on Wednesday, May 27th will be paid a dividend of 0.53 per share by the specialty chemicals company on Thursday, June 11th. This represents a c) annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Wednesday, May 27th.

Westlake has raised its dividend by an average of 0.1%per year over the last three years and has raised its dividend every year for the last 21 years. Westlake has a dividend payout ratio of 41.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Westlake to earn $3.52 per share next year, which means the company should continue to be able to cover its $2.12 annual dividend with an expected future payout ratio of 60.2%.

Westlake Trading Up 0.0%

WLK opened at $88.63 on Monday. The firm has a market cap of $11.35 billion, a price-to-earnings ratio of -6.98 and a beta of 0.67. The company has a current ratio of 2.17, a quick ratio of 1.56 and a debt-to-equity ratio of 0.56. Westlake has a 12 month low of $56.33 and a 12 month high of $124.23. The stock has a fifty day moving average price of $108.76 and a 200-day moving average price of $90.76.

Westlake (NYSE:WLK) last announced its earnings results on Tuesday, May 5th. The specialty chemicals company reported ($0.77) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.67). Westlake had a negative net margin of 14.91% and a negative return on equity of 1.89%. The business had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.79 billion. During the same period in the prior year, the company earned ($0.31) earnings per share. The company’s quarterly revenue was down 6.8% on a year-over-year basis. As a group, equities research analysts anticipate that Westlake will post 3.73 earnings per share for the current fiscal year.

About Westlake

Westlake Corp. is a global manufacturer of petrochemicals, polymers and building products, serving customers across industrial and residential markets. The company’s core operations encompass the production of vinyls—primarily polyvinyl chloride (PVC) and its key feedstock vinyl chloride monomer (VCM)—as well as chlor-alkali products including caustic soda and chlorine. In addition, Westlake produces ethylene, propylene and specialty elastomers, along with construction-related materials such as vinyl siding, trim, windows and roofing systems.

Operating a network of vertically integrated plants and distribution centers, Westlake serves markets in North America, Europe and Asia.