ICL Group Ltd. (NYSE:ICL) Raises Dividend to $0.06 Per Share

ICL Group Ltd. (NYSE:ICL) declared a quarterly dividend on Tuesday, August 4th. Stockholders of record on Wednesday, September 2nd will be paid a dividend of 0.0581 per share by the basic materials company on Wednesday, September 16th. This represents a c) dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date of this dividend is Wednesday, September 2nd. This is a 8.6% increase from ICL Group’s previous quarterly dividend of $0.05.

ICL Group has raised its dividend payment by an average of 0.1%per year over the last three years. ICL Group has a payout ratio of 34.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect ICL Group to earn $0.44 per share next year, which means the company should continue to be able to cover its $0.16 annual dividend with an expected future payout ratio of 36.4%.

ICL Group Trading Up 1.7%

Shares of NYSE:ICL traded up $0.09 during trading on Wednesday, reaching $5.24. The stock had a trading volume of 1,465,460 shares, compared to its average volume of 1,499,131. ICL Group has a 52 week low of $4.76 and a 52 week high of $6.97. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.80 and a current ratio of 1.38. The firm’s fifty day moving average is $5.35 and its 200 day moving average is $5.44. The stock has a market cap of $6.76 billion, a price-to-earnings ratio of 26.18 and a beta of 0.96.

ICL Group (NYSE:ICL) last announced its earnings results on Wednesday, August 5th. The basic materials company reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.01. The business had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.01 billion. ICL Group had a net margin of 3.52% and a return on equity of 7.84%. As a group, equities analysts forecast that ICL Group will post 0.43 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ICL has been the subject of a number of recent analyst reports. Wall Street Zen downgraded ICL Group from a “buy” rating to a “hold” rating in a report on Saturday. Barclays decreased their target price on ICL Group from $7.00 to $6.00 and set an “equal weight” rating for the company in a research note on Monday, July 27th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of ICL Group in a report on Friday. Two analysts have rated the stock with a Hold rating, According to MarketBeat, ICL Group currently has a consensus rating of “Hold” and a consensus target price of $6.00.

About ICL Group

ICL Group is a global specialty minerals and chemicals company headquartered in Tel Aviv, Israel. Established in its current form through the consolidation of Israeli government–owned chemical operations, ICL has evolved into a publicly traded entity on the New York Stock Exchange (NYSE: ICL). The company’s origins date back to state-driven mineral extraction in the Negev and the Dead Sea region, and over the decades it has grown through strategic acquisitions, technological innovation and a gradual privatization process completed in the early 2010s.

ICL’s core operations are organized into three principal business areas.