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.

Dividend Yield

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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Price Target

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.

Bloggers Sentiment 

TipRanks data shows that financial blogger opinions are 100% Bullish on FMC, compared to the sector average of 70%.

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