THE WOODLANDS, Texas - Huntsman Corporation (NYSE: NYSE:HUN) has announced a cash dividend of $0.25 per share for its common stock, scheduled for payment on June 28, 2024. Stockholders on record by June 14, 2024, will be eligible to receive the dividend.
The company, a global manufacturer and marketer of differentiated and specialty chemicals, reported revenues of approximately $6 billion for the year 2023. Huntsman operates over 60 manufacturing, research and development, and operations facilities across around 25 countries and employs about 6,000 associates.
This dividend declaration follows Huntsman's ongoing efforts to deliver value to its shareholders and reflects confidence in the company's financial stability and cash flow. Dividends are a way for companies to distribute a portion of their earnings back to shareholders, and the announcement of such payments typically signals a company's good financial health and management's positive outlook on future earnings.
InvestingPro Insights
As Huntsman Corporation (NYSE: HUN) continues to demonstrate its commitment to shareholder returns with its recent dividend announcement, a deeper dive into the company's financials through InvestingPro provides a more nuanced view of its market position and future outlook. The company's dedication to maintaining and raising dividends is underscored by its history of dividend payments over the past 18 years, with a current dividend yield of 3.98% as of the last twelve months leading up to Q1 2024.
An InvestingPro Tip highlights that Huntsman has raised its dividend for three consecutive years, indicating a stable and potentially growing income stream for investors. This is a testament to the company's financial management and its ability to consistently generate sufficient cash flow. Moreover, analysts are predicting that the company will be profitable this year, which could further enhance investor confidence in the sustainability of dividend payments.
From a valuation perspective, the company presents a mixed picture. The P/E ratio stands at a negative -48.88, reflecting challenges in recent profitability. However, with a PEG ratio of 0.44 in the last twelve months leading up to Q1 2024, there may be potential for growth that is not yet reflected in the price. The company's stock generally trades with low price volatility, according to another InvestingPro Tip, which could appeal to investors seeking stability in their portfolio.
For investors seeking more in-depth analysis, there are additional tips available on InvestingPro, which can provide further insights into Huntsman's financial health and market prospects. Interested readers can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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