Ex-Dividend Alert: Core Labs has an Annualized Dividend Payout of $2.20 Per Share; Will Trade Ex-Dividend on January 25, 2018
LONDON, UK / ACCESSWIRE / January 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 January 25, 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 January 24, 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 January 16, 2018, Core Laboratories' Board of Supervisory Directors announced a cash dividend of $0.55 per share of common stock payable in the first quarter of 2018. This first 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 February 16, 2018, to shareholders of record on January 26, 2018.
Core Laboratories' indicated dividend represents a yield of 1.90% compared to the average dividend yield of 2.09% for the Basic Materials sector.
Dividend Insight
Core Laboratories has a dividend payout ratio of 110.6%, which denotes that the Company spends approximately $1.10 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 $2.74 per share for the next year, which is substantially above the Company's annualized dividend of $2.20 per share.
As of September 30, 2017, Core Laboratories' cash and cash equivalents were approximately $13.78 million compared to $14.32 million as on June 30, 2016. During Q3 2017, the Company generated cash from operations of $29.90 million and capital expenditures of $4.90 million yielding $25.00 million of free cash flow. This free cash was returned to Core Laboratories' shareholders via the Company's regular quarterly dividend. 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.
Upcoming Earnings Announcement
On January 16, 2018, Core Laboratories announced that it has scheduled a conference call to discuss the Company's fourth quarter and year ended 2017 earnings. The call will begin at 2:30 p.m. CET on February 01, 2018.
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. Core Labs was founded in 1936 and is based in Amsterdam, the Netherlands.
Stock Performance Snapshot
January 23, 2018 - At Tuesday's closing bell, Core Labs' stock marginally rose 0.86%, ending the trading session at $120.30.
Volume traded for the day: 285.44 thousand shares.
Stock performance in the last month – up 16.13%; previous three-month period – up 34.43%; past six-month period – up 13.17%; and year-to-date – up 9.81%
After yesterday's close, Core Labs' market cap was at $5.28 billion.
Price to Earnings (P/E) ratio was at 69.38.
The stock has a dividend yield of 1.83%.
The stock is part of the Basic Materials sector, categorized under the Oil & Gas Equipment & Services industry.
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