Ex-Dividend Alert: Cabot Microelectronics Raised its Dividend by Whopping 100%; Will Trade Ex-Dividend on March 22, 2018
LONDON, UK / ACCESSWIRE / March 21, 2018 / Active-Investors has a free review on Cabot Microelectronics Corp. (NASDAQ: CCMP) ("Cabot") following the Company's announcement that it will begin trading ex-dividend on March 22, 2018. To capture the dividend payout, investors are required to purchase the stock a day prior to the ex-dividend date, that is by latest at the end of trading session on March 21, 2018. Active-Investors has initiated due-diligence on this dividend stock. Register with us for more free research including the one on CCMP:
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Dividend Declared
On March 05, 2018, Cabot's Board of Directors declared a quarterly cash dividend of $0.40 per share on the Company's common stock, representing a 100% increase over the prior regular quarterly cash dividend paid of $0.20 per share. The dividend will be payable on or about April 30, 2018, to shareholders of record at the close of business on March 23, 2018. The $0.40 dividend would represent an annualized rate of $1.60 per share, or approximately $40 million in aggregate, equivalent to approximately 33% of the Company's fiscal 2017 free cash flow.
Cabot's indicated dividend represents a yield of 1.41% compared to the average dividend yield of 1.41% for the Technology sector. Since becoming a public Company in 2000, Cabot has distributed approximately $760 million to shareholders through a combination of dividends and share repurchases.
Dividend Insight
Cabot has a dividend payout ratio of 34.0%, which means that the Company spends approximately $0.34 for dividend distribution out of every $1.00 earned. The dividend payout ratio reflects the 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, Cabot is forecasted to report earnings of $6.60 for the next year, which is considerably higher than the Company's annualized dividend of $3.58 per share.
As of December 31, 2017, Cabot's cash and cash equivalents totaled $377.23 million compared to $397.89 million as on September 30, 2017. The Company's cash flow from operations was $30.6 million. The Company's strong financial position indicates its ability to absorb any fluctuations in earnings and cash flow and to sustain its dividend distribution for a long period.
About Cabot Microelectronics Corp.
Cabot, headquartered in Aurora, Illinois, is the world's leading supplier of CMP polishing slurries and second largest CMP pads supplier to the semiconductor industry. The Company's products play a critical role in the production of advanced semiconductor devices, helping to enable the manufacture of smaller, faster and more complex devices by its customers.
The Company has approximately 1,150 employees on a global basis.
Stock Performance Snapshot
March 20, 2018 - At Tuesday's closing bell, Cabot Microelectronics' stock climbed 1.15%, ending the trading session at $114.33.
Volume traded for the day: 85.46 thousand shares.
Stock performance in the last month – up 14.33%; previous three-month period – up 21.94%; past twelve-month period – up 55.02%; and year-to-date – up 21.52%
After yesterday's close, Cabot Microelectronics' market cap was at $2.92 billion.
Price to Earnings (P/E) ratio was at 31.02.
The stock has a dividend yield of 0.87%.
The stock is part of the Technology sector, categorized under the Semiconductor - Integrated Circuits industry.
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