Ferroglobe PLC (NASDAQ:GSM) to Issue Dividend Increase – $0.01 Per Share

Ferroglobe PLC (NASDAQ:GSM) declared a quarterly dividend on Thursday, February 20th, Wall Street Journal reports. Shareholders of record on Thursday, March 20th will be paid a dividend of 0.014 per share by the basic materials company on Wednesday, March 26th. This represents a $0.06 annualized dividend and a yield of 1.54%. The ex-dividend date of this dividend is Thursday, March 20th. This is a positive change from Ferroglobe’s previous quarterly dividend of $0.01.

Ferroglobe has a payout ratio of 8.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Ferroglobe to earn $0.49 per share next year, which means the company should continue to be able to cover its $0.05 annual dividend with an expected future payout ratio of 10.2%.

Ferroglobe Price Performance

Shares of GSM traded down $0.19 during mid-day trading on Thursday, reaching $3.63. The company had a trading volume of 1,792,548 shares, compared to its average volume of 705,426. The company’s 50 day simple moving average is $3.94 and its 200 day simple moving average is $4.23. The company has a market capitalization of $682.00 million, a price-to-earnings ratio of 15.13 and a beta of 1.83. Ferroglobe has a 1-year low of $3.63 and a 1-year high of $6.19. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.00 and a current ratio of 1.83.

Ferroglobe (NASDAQ:GSM) last posted its earnings results on Wednesday, February 19th. The basic materials company reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.04. The firm had revenue of $367.51 million for the quarter, compared to analysts’ expectations of $393.00 million. Ferroglobe had a net margin of 2.74% and a return on equity of 7.55%. Analysts expect that Ferroglobe will post 0.28 EPS for the current year.

Ferroglobe Company Profile

Ferroglobe PLC produces and sells silicon metal, and silicon and manganese-based ferroalloys in the United States, Europe, and internationally. It provides silicone chemicals that are used in a range of applications, including personal care items, construction-related products, health care products, and electronics; and silicon metal for primary and secondary aluminum producers.