Innospec Inc. (NASDAQ:IOSP) Declares Dividend Increase - $0.79 Per Share

Innospec Inc. (NASDAQ:IOSP - Get Free Report) announced a Semi-Annual dividend on Tuesday, November 5th,Zacks Dividends reports. Stockholders of record on Monday, November 18th will be given a dividend of 0.79 per share by the specialty chemicals company on Tuesday, November 26th. This represents a dividend yield of 1.3%. The ex-dividend date of this dividend is Monday, November 18th. This is a boost from Innospec's previous Semi-Annual dividend of $0.72.

Innospec has raised its dividend payment by an average of 10.7% annually over the last three years. Innospec has a payout ratio of 23.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Innospec to earn $6.68 per share next year, which means the company should continue to be able to cover its $1.58 annual dividend with an expected future payout ratio of 23.7%.

Innospec Stock Performance

Shares of IOSP stock traded down $4.90 on Thursday, reaching $120.00. 200,912 shares of the company were exchanged, compared to its average volume of 107,424. The company has a market cap of $2.99 billion, a price-to-earnings ratio of 20.92 and a beta of 1.08. The business has a 50-day moving average price of $111.36 and a 200 day moving average price of $118.83. Innospec has a 1 year low of $100.50 and a 1 year high of $133.71.

Innospec (NASDAQ:IOSP - Get Free Report) last released its earnings results on Tuesday, November 5th. The specialty chemicals company reported $1.35 EPS for the quarter, hitting analysts' consensus estimates of $1.35. The business had revenue of $443.40 million during the quarter, compared to analysts' expectations of $442.13 million. Innospec had a net margin of 7.90% and a return on equity of 14.15%. The company's quarterly revenue was down 4.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.59 earnings per share. As a group, equities analysts anticipate that Innospec will post 5.92 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of Innospec from a "strong-buy" rating to a "buy" rating in a research note on Thursday, August 8th.

Insider Activity at Innospec

In related news, CFO Ian Cleminson sold 3,398 shares of the company's stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $114.74, for a total transaction of $389,886.52. Following the completion of the sale, the chief financial officer now owns 12,996 shares of the company's stock, valued at approximately $1,491,161.04. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.35% of the stock is owned by corporate insiders.

Innospec Company Profile

Innospec Inc develops, manufactures, blends, markets, and supplies specialty chemicals in the United States, rest of North America, the United Kingdom, rest of Europe, and internationally. The company's Fuel Specialties segment offers a range of specialty chemical products that are used as additives in additives in diesel, jet, marine, fuel oil and other fuels.