Innospec Inc. Plans Dividend of $0.92 (NASDAQ:IOSP)

Innospec Inc. (NASDAQ:IOSP) declared a dividend on Thursday, May 7th. Investors of record on Tuesday, May 19th will be given a dividend of 0.92 per share by the specialty chemicals company on Friday, May 29th. This represents a dividend yield of 240.0%. The ex-dividend date of this dividend is Tuesday, May 19th.

Innospec has raised its dividend by an average of 0.1%annually over the last three years and has increased its dividend every year for the last 11 years. Innospec has a dividend payout ratio of 26.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect Innospec to earn $6.26 per share next year, which means the company should continue to be able to cover its $1.74 annual dividend with an expected future payout ratio of 27.8%.

Innospec Trading Up 4.8%

Shares of IOSP stock traded up $3.65 during trading hours on Friday, reaching $80.29. 44,273 shares of the stock were exchanged, compared to its average volume of 214,146. Innospec has a 12-month low of $65.51 and a 12-month high of $95.55. The company’s 50-day moving average price is $73.65 and its 200-day moving average price is $76.59. The firm has a market capitalization of $2.00 billion, a price-to-earnings ratio of 17.09, a price-to-earnings-growth ratio of 2.09 and a beta of 0.90.

Innospec (NASDAQ:IOSP) last released its quarterly earnings results on Friday, May 8th. The specialty chemicals company reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $1.02 by $0.03. Innospec had a net margin of 6.56% and a return on equity of 10.18%. The firm had revenue of $453.20 million during the quarter, compared to analysts’ expectations of $432.14 million. During the same period in the previous year, the company earned $1.42 EPS. The firm’s revenue for the quarter was up 2.8% compared to the same quarter last year. On average, sell-side analysts expect that Innospec will post 4.96 EPS for the current year.

About Innospec

Innospec Incorporated (NASDAQ: IOSP) is a global specialty chemicals company headquartered in Cleveland, Ohio. The company operates through three principal business segments: Fuel Specialties, Oilfield Services, and Performance Chemicals. In the Fuel Specialties segment, Innospec develops and supplies additives designed to enhance octane levels, improve combustion efficiency, reduce emissions and prevent deposit formation in gasoline and diesel engines. Its Oilfield Services division provides chemical technologies—such as surfactants, corrosion inhibitors and demulsifiers—to support exploration, drilling, production optimization and enhanced oil recovery operations.