Pan American Silver Corp. (PAAS) Announces Quarterly Dividend of $0.04

Pan American Silver Corp. (NASDAQ:PAAS) (TSE:PAAS) announced a quarterly dividend on Friday, May 10th, Wall Street Journal reports. Shareholders of record on Tuesday, May 21st will be paid a dividend of 0.035 per share by the basic materials company on Monday, June 3rd. This represents a $0.14 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date of this dividend is Monday, May 20th.

Pan American Silver has decreased its dividend payment by an average of 20.2% annually over the last three years and has raised its dividend annually for the last 2 consecutive years. Pan American Silver has a payout ratio of 22.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Pan American Silver to earn $0.63 per share next year, which means the company should continue to be able to cover its $0.14 annual dividend with an expected future payout ratio of 22.2%.

Shares of PAAS stock opened at $11.44 on Friday. Pan American Silver has a 12 month low of $11.43 and a 12 month high of $18.75. The company has a market capitalization of $1.81 billion, a price-to-earnings ratio of 49.21, a PEG ratio of 13.18 and a beta of -0.15.

Pan American Silver (NASDAQ:PAAS) (TSE:PAAS) last posted its earnings results on Wednesday, May 8th. The basic materials company reported $0.05 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.03. The business had revenue of $232.60 million during the quarter, compared to the consensus estimate of $240.67 million. Pan American Silver had a positive return on equity of 2.39% and a negative net margin of 0.34%. Pan American Silver’s revenue was up 12.4% on a year-over-year basis. During the same quarter last year, the company earned $0.20 EPS. On average, sell-side analysts expect that Pan American Silver will post 0.22 earnings per share for the current fiscal year.

Several equities analysts recently commented on PAAS shares. Canaccord Genuity restated a “buy” rating and set a $21.00 target price on shares of Pan American Silver in a research report on Friday, February 22nd. TheStreet downgraded Pan American Silver from a “b-” rating to a “c” rating in a research report on Friday, February 22nd. BidaskClub downgraded Pan American Silver from a “hold” rating to a “sell” rating in a research report on Wednesday, February 27th. B. Riley reiterated a “neutral” rating and issued a $12.50 price objective (down previously from $22.00) on shares of Pan American Silver in a research report on Friday, March 1st. Finally, Zacks Investment Research downgraded Pan American Silver from a “hold” rating to a “sell” rating in a research report on Saturday, March 2nd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $16.97.

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About Pan American Silver

Pan American Silver Corp., together with its subsidiaries, engages in the exploration, development, extraction, processing, refining, and reclamation of silver mines. The company owns and operates mines located in Mexico, Peru, Canada, Argentina, and Bolivia. It also produces and sells gold, zinc, lead, and copper.

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Dividend History for Pan American Silver (NASDAQ:PAAS)

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