Southern Copper Corporation (SCCO) To Go Ex-Dividend on November 3rd

Southern Copper Corporation (NYSE:SCCO) announced a quarterly dividend on Thursday, October 15th. Shareholders of record on Tuesday, November 3rd will be paid a dividend of $1.30 per share by the basic materials company on Thursday, November 19th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Tuesday, November 3rd. This is a 18.2% increase from Southern Copper’s previous quarterly dividend of $1.10.

Southern Copper has raised its dividend payment by an average of 0.2% annually over the last three years. Southern Copper has a payout ratio of 117.1% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Southern Copper to earn $7.82 per share next year, which means the company should continue to be able to cover its $5.20 annual dividend with an expected future payout ratio of 66.5%.

Southern Copper Price Performance

Southern Copper stock opened at $177.60 on Friday. The stock has a market cap of $148.18 billion, a P/E ratio of 23.25, a price-to-earnings-growth ratio of 1.64 and a beta of 1.11. The company has a fifty day simple moving average of $200.92 and a 200-day simple moving average of $187.49. Southern Copper has a 12-month low of $119.25 and a 12-month high of $223.88. The company has a current ratio of 5.06, a quick ratio of 4.56 and a debt-to-equity ratio of 0.63.

Shares of Southern Copper are going to split on Tuesday, November 3rd. The 1.0106-1 split was recently announced. The newly issued shares will be distributed to shareholders after the market closes on Monday, November 2nd.

Southern Copper (NYSE:SCCO) last posted its earnings results on Wednesday, October 21st. The basic materials company reported $2.15 EPS for the quarter, beating the consensus estimate of $2.03 by $0.12. The firm had revenue of $4.70 billion for the quarter, compared to analyst estimates of $4.49 billion. Southern Copper had a return on equity of 53.46% and a net margin of 37.16%. During the same quarter in the prior year, the company posted $1.35 earnings per share. Equities analysts expect that Southern Copper will post 8.03 EPS for the current fiscal year.

Southern Copper Company Profile

Southern Copper Corporation (NYSE:SCCO) is a mining and metals company engaged primarily in the exploration, development, extraction, processing and production of copper. The company also produces molybdenum, zinc, silver and lead, along with related byproducts. Its operations include open-pit mines, underground mines, concentrators, smelters, refineries and other processing facilities.

Southern Copper operates mainly in Peru and Mexico. Its Peruvian assets include the Toquepala and Cuajone copper mines, while its Mexican operations include the Buenavista del Cobre and La Caridad mines, as well as associated processing and infrastructure facilities.