Imperial Oil Limited (IMO) to Issue Quarterly Dividend of $0.44 on July 1st

Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) declared a quarterly dividend on Monday, April 29th, Wall Street Journal reports. Investors of record on Monday, June 3rd will be given a dividend of 0.4377 per share by the energy company on Monday, July 1st. This represents a $1.75 annualized dividend and a yield of 2.54%. The ex-dividend date is Monday, June 3rd.

Imperial Oil has raised its dividend by an average of 29.2% per year over the last three years and has increased its dividend annually for the last 1 consecutive years. Imperial Oil has a dividend payout ratio of 25.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect Imperial Oil to earn $6.52 per share next year, which means the company should continue to be able to cover its $1.77 annual dividend with an expected future payout ratio of 27.1%.

Imperial Oil Price Performance

Imperial Oil stock opened at $68.95 on Wednesday. Imperial Oil has a 12 month low of $44.46 and a 12 month high of $74.58. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.26 and a quick ratio of 0.96. The firm has a market capitalization of $36.95 billion, a price-to-earnings ratio of 11.15 and a beta of 1.48.

Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) last issued its quarterly earnings data on Friday, April 26th. The energy company reported $1.65 earnings per share for the quarter, beating analysts’ consensus estimates of $1.55 by $0.10. Imperial Oil had a net margin of 9.46% and a return on equity of 20.71%. The company had revenue of $9.11 billion for the quarter, compared to the consensus estimate of $11.61 billion. Analysts expect that Imperial Oil will post 6.07 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised Imperial Oil from a “hold” rating to a “buy” rating in a research report on Monday. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Imperial Oil currently has a consensus rating of “Hold” and an average target price of $85.33.

About Imperial Oil

Imperial Oil Limited engages in exploration, production, and sale of crude oil and natural gas in Canada. The company operates through three segments: Upstream, Downstream and Chemical segments. The Upstream segment explores and produces crude oil, natural gas, synthetic crude oil, and bitumen. The Downstream segment transports and refines crude oil, blends refined products, and distributes and markets of refined products.