Eastman Chemical Company (EMN) To Go Ex-Dividend on December 15th

by · The Markets Daily

Eastman Chemical Company (NYSE:EMN – Get Free Report) announced a quarterly dividend on Thursday, December 4th. Shareholders of record on Monday, December 15th will be paid a dividend of 0.84 per share by the basic materials company on Thursday, January 8th. This represents a c) annualized dividend and a yield of 5.5%. The ex-dividend date is Monday, December 15th. This is a 1.2% increase from Eastman Chemical’s previous quarterly dividend of $0.83.

Eastman Chemical has increased its dividend payment by an average of 0.1%per year over the last three years and has increased its dividend annually for the last 15 consecutive years. Eastman Chemical has a payout ratio of 40.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect Eastman Chemical to earn $9.56 per share next year, which means the company should continue to be able to cover its $3.32 annual dividend with an expected future payout ratio of 34.7%.

Eastman Chemical Trading Up 1.4%

Eastman Chemical stock opened at $61.50 on Friday. The company has a market cap of $7.01 billion, a price-to-earnings ratio of 10.27, a P/E/G ratio of 6.49 and a beta of 1.24. The firm has a 50-day moving average of $60.99 and a 200-day moving average of $68.72. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.76 and a quick ratio of 0.86. Eastman Chemical has a one year low of $56.11 and a one year high of $103.82.

Eastman Chemical (NYSE:EMN – Get Free Report) last released its earnings results on Monday, November 3rd. The basic materials company reported $1.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.18 by ($0.04). The company had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.28 billion. Eastman Chemical had a net margin of 7.75% and a return on equity of 12.89%. Eastman Chemical’s revenue was down 10.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.26 EPS. Eastman Chemical has set its FY 2025 guidance at 5.400-5.65 EPS. On average, equities analysts expect that Eastman Chemical will post 8.55 earnings per share for the current fiscal year.

About Eastman Chemical

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Eastman Chemical Company operates as a specialty materials company in the United States, China, and internationally. The company's Additives & Functional Products segment offers amine derivative-based building blocks, intermediates for surfactants, metam-based soil fumigants, and organic acid-based solutions; specialty coalescent and solvents, paint additives, and specialty polymers; and heat transfer and aviation fluids.

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