The Chemours Company (NYSE:CC) Announces Quarterly Dividend of $0.25

The Chemours Company (NYSE:CC) declared a quarterly dividend on Tuesday, February 18th,Wall Street Journal reports. Stockholders of record on Friday, February 28th will be paid a dividend of 0.25 per share by the specialty chemicals company on Friday, March 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.72%. The ex-dividend date is Friday, February 28th.

Chemours has a payout ratio of 33.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Chemours to earn $2.08 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 48.1%.

Chemours Trading Up 3.9 %

CC opened at $17.49 on Wednesday. Chemours has a twelve month low of $15.10 and a twelve month high of $29.83. The company has a fifty day moving average of $18.21 and a 200-day moving average of $18.95. The stock has a market cap of $2.61 billion, a PE ratio of 34.98 and a beta of 1.81. The company has a quick ratio of 0.92, a current ratio of 1.73 and a debt-to-equity ratio of 6.05.

Chemours (NYSE:CC) last issued its earnings results on Tuesday, February 18th. The specialty chemicals company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.01. Chemours had a return on equity of 29.48% and a net margin of 1.34%. On average, sell-side analysts predict that Chemours will post 1.21 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Royal Bank of Canada reissued an “outperform” rating and issued a $25.00 price objective on shares of Chemours in a research note on Thursday, December 12th. Mizuho reduced their price target on shares of Chemours from $22.00 to $21.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. Truist Financial initiated coverage on shares of Chemours in a research note on Tuesday, January 28th. They set a “buy” rating and a $27.00 price target for the company. Morgan Stanley dropped their price objective on shares of Chemours from $25.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Monday, January 13th. Finally, Barclays boosted their target price on shares of Chemours from $21.00 to $23.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 5th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Chemours currently has an average rating of “Hold” and an average price target of $24.11.

About Chemours

The Chemours Company provides performance chemicals in North America, the Asia Pacific, Europe, the Middle East, Africa, and Latin America. It operates through three segments: Titanium Technologies, Thermal & Specialized Solutions, and Advanced Performance Materials. The Titanium Technologies segment provides TiO2 pigment under the Ti-Pure brand for delivering whiteness, brightness, opacity, durability, efficiency, and protection in various of applications, such as architectural and industrial coatings, flexible and rigid plastic packaging, polyvinylchloride, laminate papers used for furniture and building materials, coated paper, and coated paperboard used for packaging.