October 18, 2017 - 7:40 AM EDT
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Dividend Coverage: This Energy Services Company has a Dividend Yield of 2.32%; Will Trade Ex-Dividend on October 19, 2017

LONDON, UK / ACCESSWIRE / October 18, 2017 / Pro-Trader Daily takes a closer look at Core Laboratories N.V. (NYSE: CLB) as the Company's stock will begin trading ex-dividend on October 19, 2017. To capture the dividend payout, investors must purchase the stock a day prior to the ex-dividend date that is by latest at the end of the trading session on October 18, 2017. Are you looking for research on dividend stocks, if so register with us now for your free membership at:

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Today, PRO-TD covers ex-dividend news on CLB. Get our free coverage by signing up at:

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Dividend Declared

On October 10, 2017, Core Laboratories' Board of Supervisory Directors announced a cash dividend of $0.55 per share of common stock payable in Q4 FY17. The quarterly $0.55 per share cash dividend will be payable on November 21, 2017, to shareholders of record on October 20, 2017.

Core Laboratories' indicated dividend represents a yield of 2.32%, which was higher compared to the average dividend yield of 2.26% for Basic Materials sector. Core Laboratories has been paying the annualized dividend of $2.00 since January 2015.

Dividend Insights

Core Labs has a dividend payout ratio of 111.7%, which means that the Company distributes approximately $0.112 for every $1.00 earned. The dividend payout ratio reflects how much amount a company is returning to shareholders versus how much money it is keeping on hand to reinvest in growth, to pay off debt, and/or to add to its cash reserves.

As reflected in the payout ration the Company may have to increase its earnings or reduce the dividend paid to sustain the dividend payout for a long-term. For its second-quarter results announced on July 25, 2017, net income of Core Labs was $0.51 per diluted share, up 34.2% compared to earnings of $0.38 per diluted share in the year-ago same period. This reflects that the Company's profitability is improving, which may enable it to bring down the payout ratio in an acceptable range.

According to analysts' estimates, Core Labs is estimated to report earnings of $2.76 for the next year, which is substantially above the Company's annualized dividend of $1.97 per share.

As of June 30, 2017, Core Labs' cash and cash equivalents totaled $14.32 million compared to cash of $14.34 million as on March 31, 2017. The Company generated $18.72 million of operating cash flow for the three months ended June 30, 2017, compared to $27.72 million for the year-ago same period. The Company's strong financial position indicates its ability to absorb any fluctuations in earnings and cash flow and to sustain the dividend distribution for a long period.

Recent Development for Core Labs

On September 27, 2017, Core Labs announced that it will broadcast its third quarter 2017 conference call at 2:30 p.m. CEST on October 24, 2017. David Demshur, CEO, Richard Bergmark, CFO, Monty Davis, COO, and Chris Hill, CAO, will discuss financial and operating results. The Company will be issuing an earnings press release after market close on October 23rd, 2017.

About Core Laboratories N.V.

Core Labs is a leading provider of proprietary and patented reservoir description and production enhancement services used to optimize petroleum reservoir performance. The Company has over 70 offices in more than 50 countries and is located in every major oil-producing province in the world.

Stock Performance

At the close of trading session on Tuesday, October 17, 2017, Core Laboratories' stock price rose slightly by 0.26% to end the day at $94.25. A total volume of 272.94 thousand shares were exchanged during the session. The Company's shares are trading at a PE ratio of 57.61 and have a dividend yield of 2.33%. At Tuesday's closing price, the stock's net capitalization stands at $4.15 billion.

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SOURCE: Pro-Trader Daily


Source: ACCESSWIRE Investor Awareness (October 18, 2017 - 7:40 AM EDT)

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