Industrias Bachoco, S.A.B. de C.V. (NYSE:IBA) Declares Dividend Increase – $0.35 Per Share

Industrias Bachoco, S.A.B. de C.V. (NYSE:IBA) announced a semi-annual dividend on Monday, June 22nd, Wall Street Journal reports. Stockholders of record on Monday, July 6th will be given a dividend of 0.3507 per share on Friday, July 17th. This represents a dividend yield of 2.1%. The ex-dividend date of this dividend is Thursday, July 2nd. This is an increase from Industrias Bachoco’s previous semi-annual dividend of $0.33.

Industrias Bachoco has a payout ratio of 16.1% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Industrias Bachoco to earn $2.84 per share next year, which means the company should continue to be able to cover its $0.61 annual dividend with an expected future payout ratio of 21.5%.

NYSE:IBA opened at $35.32 on Tuesday. The firm has a market capitalization of $1.76 billion, a price-to-earnings ratio of 7.40 and a beta of 0.65. Industrias Bachoco has a 1 year low of $28.04 and a 1 year high of $57.00. The business has a 50 day simple moving average of $35.63 and a 200-day simple moving average of $40.73. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.81 and a quick ratio of 2.94.

Industrias Bachoco (NYSE:IBA) last posted its quarterly earnings data on Tuesday, April 28th. The company reported $1.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $1.34. The business had revenue of $661.30 million during the quarter, compared to analyst estimates of $758.02 million. Industrias Bachoco had a return on equity of 11.91% and a net margin of 7.65%. As a group, analysts expect that Industrias Bachoco will post 4.12 earnings per share for the current fiscal year.

Several research firms have recently issued reports on IBA. ValuEngine lowered Industrias Bachoco from a “hold” rating to a “sell” rating in a research note on Friday, April 3rd. JPMorgan Chase & Co. downgraded Industrias Bachoco from an “overweight” rating to a “neutral” rating in a report on Tuesday, May 12th. Finally, Zacks Investment Research downgraded Industrias Bachoco from a “buy” rating to a “hold” rating in a report on Wednesday, June 3rd.

About Industrias Bachoco

Industrias Bachoco, SAB. de C.V., through its subsidiaries, operates as a poultry producer in Mexico and the United States. The company operates in two segment, Poultry and Others It is primarily involved in the breeding, processing, and marketing of chicken, eggs, swine, balanced animal feed, and other meat products.

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Dividend History for Industrias Bachoco (NYSE:IBA)

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