Bunge Ltd (NYSE:BG) announced a quarterly dividend on Thursday, December 6th, RTT News reports. Investors of record on Tuesday, February 19th will be given a dividend of 0.50 per share by the basic materials company on Monday, March 4th. This represents a $2.00 annualized dividend and a dividend yield of 3.77%. The ex-dividend date is Friday, February 15th.
Bunge has raised its dividend payment by an average of 10.1% per year over the last three years and has raised its dividend annually for the last 17 consecutive years. Bunge has a payout ratio of 38.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Bunge to earn $4.42 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 45.2%.
NYSE:BG opened at $53.03 on Friday. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.58 and a quick ratio of 0.71. Bunge has a 12-month low of $51.13 and a 12-month high of $81.45. The stock has a market cap of $7.46 billion, a P/E ratio of 27.34 and a beta of 0.96.
BG has been the subject of several research analyst reports. Zacks Investment Research upgraded Bunge from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a research report on Monday, October 15th. Citigroup cut their target price on Bunge from $92.00 to $82.00 and set a “buy” rating for the company in a research report on Thursday, November 1st. BMO Capital Markets cut their target price on Bunge from $87.00 to $83.00 and set an “outperform” rating for the company in a research report on Thursday, November 1st. ValuEngine cut Bunge from a “hold” rating to a “sell” rating in a research report on Saturday, December 1st. Finally, Credit Suisse Group reiterated an “outperform” rating and set a $77.00 target price on shares of Bunge in a research report on Tuesday, January 15th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $76.60.
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Bunge Limited operates as an agribusiness and food company worldwide. It operates through five segments: Agribusiness, Edible Oil Products, Milling Products, Sugar and Bioenergy, and Fertilizer. The Agribusiness segment purchases, stores, transports, processes, and sells agricultural commodities and commodity products, including oilseeds primarily soybeans, rapeseed, canola, and sunflower seeds, as well as grain, such as wheat and corn; and vegetable oils and protein meals.
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