FMC Hikes Dividend by 10.4%; Street Says Buy
This article was originally published on TipRanks.com
Agricultural sciences company FMC Corporation (NYSE: FMC) recently announced a quarterly dividend of 53 cents per share, an increase of about 10.4% from the previous dividend of 48 cents.
The dividend will be paid on January 20, 2022, to shareholders of record as of December 31, 2021.
The company’s annual dividend of $2.12 per share now reflects a dividend yield of 2% based on Thursday’s closing price.
The company has been raising its quarterly dividend consistently over the past four years, making it an attractive choice for investors.
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Last month, RBC Capital analyst Arun Viswanathan reiterated a Buy rating on the stock. The analyst, however, raised the price target from $116 to $122, which implies upside potential of 16.2% from current levels.
Consensus among analysts is a Strong Buy based on 6 Buys and 2 Holds. The average FMC price target of $120.80 implies upside potential of 15.1% from current levels. Shares have declined 9.2% over the past year.
TipRanks data shows that financial blogger opinions are 100% Bullish on FMC, compared to the sector average of 70%.
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