Stepan (NYSE:SCL) declared a quarterly dividend on Tuesday, October 23rd, Zacks reports. Shareholders of record on Friday, November 30th will be paid a dividend of 0.25 per share by the basic materials company on Friday, December 14th. This represents a $1.00 annualized dividend and a yield of 1.24%. The ex-dividend date of this dividend is Thursday, November 29th. This is a positive change from Stepan’s previous quarterly dividend of $0.23.
Stepan has increased its dividend payment by an average of 6.8% annually over the last three years and has raised its dividend every year for the last 50 years. Stepan has a payout ratio of 21.1% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Stepan to earn $5.32 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 18.8%.
NYSE:SCL opened at $80.62 on Friday. The stock has a market cap of $1.83 billion, a PE ratio of 17.34 and a beta of 1.17. The company has a current ratio of 2.49, a quick ratio of 1.90 and a debt-to-equity ratio of 0.34. Stepan has a 1-year low of $68.09 and a 1-year high of $90.96.
Several research firms have recently weighed in on SCL. Zacks Investment Research cut Stepan from a “hold” rating to a “sell” rating in a report on Thursday. TD Securities restated a “neutral” rating and set a $27.00 price target on shares of Stepan in a report on Wednesday, November 7th. Finally, Seaport Global Securities restated a “hold” rating and set a $95.00 price target on shares of Stepan in a report on Monday, November 5th.
In related news, VP Frank Pacholec sold 500 shares of the company’s stock in a transaction that occurred on Thursday, September 13th. The stock was sold at an average price of $89.49, for a total value of $44,745.00. Following the sale, the vice president now directly owns 36,482 shares in the company, valued at $3,264,774.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gregory E. Lawton sold 2,114 shares of the company’s stock in a transaction that occurred on Wednesday, November 7th. The shares were sold at an average price of $87.75, for a total value of $185,503.50. Following the completion of the sale, the director now owns 18,429 shares in the company, valued at $1,617,144.75. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,213 shares of company stock worth $535,973. Company insiders own 12.60% of the company’s stock.
ILLEGAL ACTIVITY WARNING: This article was first published by WKRB News and is owned by of WKRB News. If you are reading this article on another website, it was illegally stolen and reposted in violation of international trademark & copyright laws. The legal version of this article can be accessed at https://www.wkrb13.com/2018/11/24/stepan-scl-raises-dividend-to-0-25-per-share.html.
Stepan Company Profile
Stepan Company, together with its subsidiaries, produces and sells specialty and intermediate chemicals to other manufacturers for use in various end products worldwide. The company operates through three segments: Surfactants, Polymers, and Specialty Products. The Surfactants segment offers surfactants that are used as principal ingredients in consumer and industrial cleaning products, including detergents for washing clothes, dishes, carpets, and floors and walls, as well as shampoos and body washes; and other applications, such as fabric softeners, germicidal quaternary compounds, and lubricating ingredients.
See Also: What is a Call Option?
Receive News & Ratings for Stepan Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Stepan and related companies with MarketBeat.com's FREE daily email newsletter.