Imperial Oil Limited (NYSEAMERICAN:IMO) Announces Quarterly Dividend of $0.43

Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) declared a quarterly dividend on Monday, August 5th, Wall Street Journal reports. Stockholders of record on Wednesday, September 4th will be given a dividend of 0.4336 per share by the energy company on Tuesday, October 1st. This represents a $1.73 dividend on an annualized basis and a dividend yield of 2.56%. The ex-dividend date is Wednesday, September 4th.

Imperial Oil has raised its dividend payment by an average of 42.8% per year over the last three years. Imperial Oil has a dividend payout ratio of 25.5% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Imperial Oil to earn $6.43 per share next year, which means the company should continue to be able to cover its $1.75 annual dividend with an expected future payout ratio of 27.2%.

Imperial Oil Price Performance

Imperial Oil stock traded down $0.31 during trading hours on Monday, hitting $67.72. The company had a trading volume of 305,808 shares, compared to its average volume of 389,246. The stock has a market cap of $36.29 billion, a price-to-earnings ratio of 10.66 and a beta of 1.47. Imperial Oil has a 1 year low of $51.85 and a 1 year high of $74.58. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.34 and a quick ratio of 1.04.

Imperial Oil (NYSEAMERICAN:IMO) (TSE:IMO) last released its quarterly earnings results on Friday, August 2nd. The energy company reported $1.54 EPS for the quarter, beating the consensus estimate of $1.43 by $0.11. Imperial Oil had a net margin of 9.46% and a return on equity of 20.76%. The business had revenue of $9.78 billion during the quarter, compared to analyst estimates of $10.50 billion. On average, research analysts forecast that Imperial Oil will post 6.22 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on IMO. Wolfe Research assumed coverage on shares of Imperial Oil in a research note on Thursday, July 18th. They set an “outperform” rating and a $108.00 price objective on the stock. Raymond James upgraded Imperial Oil to a “hold” rating in a research report on Tuesday, May 28th. Scotiabank decreased their price objective on shares of Imperial Oil from $111.00 to $110.00 and set a “sector outperform” rating on the stock in a report on Friday, July 12th. Finally, StockNews.com cut Imperial Oil from a “buy” rating to a “hold” rating in a research report on Monday, July 1st. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Imperial Oil has a consensus rating of “Hold” and an average price target of $94.80.

Imperial Oil Company Profile

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.