Imperial Oil Limited (NYSEAMERICAN:IMO) to Issue Quarterly Dividend of $0.50

Imperial Oil Limited (NYSEAMERICAN:IMO) (TSE:IMO) declared a quarterly dividend on Monday, February 3rd, Wall Street Journal reports. Investors of record on Wednesday, March 5th will be given a dividend of 0.4972 per share by the energy company on Tuesday, April 1st. This represents a $1.99 annualized dividend and a yield of 2.93%. The ex-dividend date of this dividend is Wednesday, March 5th. This is a positive change from Imperial Oil’s previous quarterly dividend of $0.43.

Imperial Oil has increased its dividend by an average of 32.3% annually over the last three years. Imperial Oil has a payout ratio of 32.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect Imperial Oil to earn $6.37 per share next year, which means the company should continue to be able to cover its $1.99 annual dividend with an expected future payout ratio of 31.2%.

Imperial Oil Trading Up 0.4 %

IMO stock opened at $67.84 on Monday. The firm has a market cap of $34.53 billion, a PE ratio of 10.29 and a beta of 1.44. Imperial Oil has a fifty-two week low of $60.95 and a fifty-two week high of $80.17. The company has a quick ratio of 1.23, a current ratio of 1.34 and a debt-to-equity ratio of 0.17.

Analysts Set New Price Targets

IMO has been the topic of several analyst reports. JPMorgan Chase & Co. cut Imperial Oil from a “neutral” rating to an “underweight” rating in a research report on Thursday, December 19th. Wolfe Research cut Imperial Oil from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $109.00.

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.