Corteva, Inc. (NYSE:CTVA) Announces $0.18 Quarterly Dividend

Corteva, Inc. (NYSE:CTVA) announced a quarterly dividend on Wednesday, January 28th. Investors of record on Monday, March 2nd will be given a dividend of 0.18 per share on Monday, March 16th. This represents a c) annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Monday, March 2nd.

Corteva has increased its dividend by an average of 0.2%annually over the last three years and has raised its dividend every year for the last 5 years. Corteva has a payout ratio of 20.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect Corteva to earn $3.41 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 21.1%.

Corteva Trading Down 0.0%

Corteva stock traded down $0.01 during midday trading on Wednesday, reaching $72.99. 1,578,699 shares of the stock traded hands, compared to its average volume of 3,742,141. The company has a current ratio of 1.58, a quick ratio of 1.07 and a debt-to-equity ratio of 0.07. The firm has a market cap of $49.32 billion, a PE ratio of 31.19, a price-to-earnings-growth ratio of 1.85 and a beta of 0.74. The company has a 50-day simple moving average of $67.61 and a two-hundred day simple moving average of $68.33. Corteva has a 12-month low of $53.40 and a 12-month high of $77.41.

Corteva (NYSE:CTVA) last posted its quarterly earnings data on Tuesday, November 4th. The company reported ($0.23) EPS for the quarter, beating the consensus estimate of ($0.49) by $0.26. The business had revenue of $2.62 billion during the quarter, compared to analyst estimates of $2.47 billion. Corteva had a net margin of 9.19% and a return on equity of 9.37%. The business’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.49) earnings per share. Research analysts expect that Corteva will post 2.96 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Corteva

Several large investors have recently bought and sold shares of the stock. NORTHSTAR ASSET MANAGEMENT Co boosted its position in shares of Corteva by 2.2% in the 2nd quarter. NORTHSTAR ASSET MANAGEMENT Co now owns 6,940 shares of the company’s stock valued at $517,000 after purchasing an additional 150 shares during the period. Empirical Finance LLC boosted its holdings in shares of Corteva by 0.6% in the second quarter. Empirical Finance LLC now owns 24,935 shares of the company’s stock valued at $1,858,000 after acquiring an additional 153 shares during the period. Exchange Capital Management Inc. grew its position in shares of Corteva by 0.3% during the second quarter. Exchange Capital Management Inc. now owns 56,901 shares of the company’s stock worth $4,241,000 after acquiring an additional 161 shares during the last quarter. Carnegie Investment Counsel increased its holdings in shares of Corteva by 3.0% in the 2nd quarter. Carnegie Investment Counsel now owns 5,607 shares of the company’s stock valued at $418,000 after acquiring an additional 164 shares during the period. Finally, Fox Run Management L.L.C. raised its position in Corteva by 5.1% in the 3rd quarter. Fox Run Management L.L.C. now owns 3,361 shares of the company’s stock valued at $227,000 after purchasing an additional 164 shares during the last quarter. Institutional investors and hedge funds own 81.54% of the company’s stock.

About Corteva

Corteva, Inc (NYSE: CTVA) is an independent global agriculture company that was established as a publicly traded firm in mid‑2019 following the separation of the agriculture businesses from DowDuPont. The company focuses on delivering technologies and products that help farmers increase productivity and manage crop health. Corteva’s operations combine seed genetics, crop protection chemistries, digital tools and biological solutions to address the full cycle of crop production.

Core business activities include research and development of seed genetics and trait technologies, formulation and sale of crop protection products (such as herbicides, insecticides and fungicides), and the development of seed treatments and biologicals.