Stepan (SCL) Raises Dividend to $0.25 Per Share

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.

Stepan (NYSE:SCL) last released its quarterly earnings results on Wednesday, October 24th. The basic materials company reported $1.11 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.00 by $0.11. The company had revenue of $508.00 million for the quarter, compared to analysts’ expectations of $504.20 million. Stepan had a return on equity of 15.02% and a net margin of 4.78%. The business’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.92 earnings per share. As a group, sell-side analysts anticipate that Stepan will post 4.67 earnings per share for the current year.

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.

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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.

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Dividend History for Stepan (NYSE:SCL)

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