Ex-Dividend Alert: Core Laboratories Has a Dividend Yield of 1.81%; Will Trade Ex-Dividend on April 26, 2018
LONDON, UK / ACCESSWIRE / April 24, 2018 / Active-Investors has a free review on Core Laboratories N.V. (NYSE: CLB) following the Company's announcement that it will begin trading ex-dividend on April 26, 2018. 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 April 25, 2018. Active-Investors has initiated due-diligence on this dividend stock. Register with us for more free research including the one on CLB:
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Dividend Declared
On April 17, 2018, Core Laboratories' Board of Supervisory Directors announced a cash dividend of $0.55 per share of common stock payable in the second quarter of 2018. This second quarter dividend would mean a total payout of $2.20 per share of common stock, if maintained for the entire year. The quarterly $0.55 per share cash dividend will be payable on May 22, 2018, to shareholders of record on April 27, 2018.
Core Laboratories' indicated dividend represents a yield of 1.81% compared to the average dividend yield of 2.49% for the Basic Materials sector.
Dividend Insight
Core Laboratories has a dividend payout ratio of 81.5%, which denotes that the Company spends approximately $0.82 for dividend distribution out of 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.
According to analysts' estimates, Core Laboratories is forecasted to report earnings of $3.52 per share for the next year, which is substantially higher compared to the Company's annualized dividend of $2.20 per share.
During Q4 2017, Core Labs generated $41,400,000 in free cash flow (FCF), which exceeded the amount paid for the Company's quarterly dividend and stock repurchases and allowed Core Laboratories to also reduce its long-term debt. The Company converted over $0.24 of every revenue dollar in Q4 2017 into FCF, the highest reported by all major oil field service companies. 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 Laboratories
On April 04, 2018, Core Laboratories announced that it will broadcast its first quarter 2018 conference call over the Internet at 7:30 a.m. CDT / 2:30 p.m. CEST on April 26, 2018. David Demshur, CEO, Larry Bruno, President, Richard Bergmark, CFO, Monty Davis, COO, Chris Hill, CAO, and Gwen Schreffler, SVP Investor Relations will discuss financial and operating results. An earnings press release will be issued after market close on April 25, 2018.
About Core Laboratories N.V.
Core Laboratories 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 Snapshot
April 23, 2018 - At Monday's closing bell, Core Labs' stock climbed 1.02%, ending the trading session at $122.74.
Volume traded for the day: 583.86 thousand shares, which was above the 3-month average volume of 457.45 thousand shares.
Stock performance in the last month - up 16.19%; previous three-month period - up 2.91%; past twelve-month period - up 9.11%; and year-to-date - up 12.04%.
After yesterday's close, Core Lab' market cap was at $5.44 billion.
Price to Earnings (P/E) ratio was at 64.16.
The stock has a dividend yield of 1.79%.
The stock is part of the Basic Materials sector, categorized under the Oil & Gas Equipment & Services industry. This sector was flat at the end of the session.
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