CNOOC Ltd (CEO) Raises Dividend to $5.10 Per Share
CNOOC Ltd (NYSE:CEO) announced a semiannual dividend on Friday, March 22nd, Wall Street Journal reports. Shareholders of record on Wednesday, June 5th will be paid a dividend of 5.0955 per share by the oil and gas company on Wednesday, July 17th. This represents a dividend yield of 5.81%. The ex-dividend date of this dividend is Tuesday, June 4th. This is a positive change from CNOOC’s previous semiannual dividend of $3.82.
CNOOC has decreased its dividend by an average of 6.6% per year over the last three years and has increased its dividend annually for the last 2 consecutive years. CNOOC has a dividend payout ratio of 48.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect CNOOC to earn $18.58 per share next year, which means the company should continue to be able to cover its $9.13 annual dividend with an expected future payout ratio of 49.1%.
Shares of NYSE:CEO opened at $162.37 on Monday. CNOOC has a 52 week low of $142.94 and a 52 week high of $202.38. The company has a current ratio of 2.71, a quick ratio of 2.62 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $72.49 billion, a price-to-earnings ratio of 9.52, a PEG ratio of 1.13 and a beta of 1.09.
CNOOC Limited, an investment holding company, explores for, develops, produces, and sells crude oil, natural gas, and other petroleum products. It operates through Exploration and Production, and Trading Business segments. The company produces offshore crude oil and natural gas primarily in Bohai, Western South China Sea, Eastern South China Sea, and East China Sea in offshore China.
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