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Company Update (NYSE:DOW): Dow Declares Quarterly Dividend of 46 Cents per Share

[Business Wire] – The Dow Chemical Company has declared a dividend of 46 cents per share, payable July 29, 2016, to shareholders of record on June 30, 2016. Read more on this. The Dow Chemical Company (DOW) , with a current market cap of $58.35B, started trading this morning at $51.96. Today’s price range has been between $51.74 and $51.98 per share with a one year range of $35.11 to $57.10. DOW shares are currently priced at 14.68x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s -13.97x earnings multiple. And for dividend hunters, the company pays shareholders $1.84 per share annually in dividends, yielding 3.62%. Consensus earnings for the current quarter by the 15 sell-side analysts covering the stock is an estimate of $0.86 per share, which would be $0.05 worse than the year-ago quarter and a $0.02 sequential decrease. What we find to be interesting is that the full-year EPS estimate of $3.51 is a $0.04 improvement when compared to the previous year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $11.21 Billion. If realized, that would be a 12.97% decrease over the year-ago quarter. In terms of ratings, Susquehanna upgraded DOW from Neutral to Positive (Feb 8, 2016). Previously, RBC Capital Mkts upgraded DOW from Outperform to Top Pick. Investors should keep in mind is that the average price target is $59.00, which is 13.55% above where the stock opened this morning. See more in (NYSE:DOW) Similar Articles: Market Update (NYSE:D): Dominion Declares Quarterly Dividend of 70 Cents Company Update: Dominion Resources Inc (NYSE:D) – Dominion Declares Quarterly Dividend of 70 Cents Company Update (NYSE:PPG): PPG Directors Announce Quarterly Dividend of 36 Cents Per Share
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