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Ashland's (ASH) Board Approves Increase in Dividend by 9%
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Ashland Global Holdings Inc. (ASH - Free Report) announced that its Board has authorized a 9% increase in the quarterly dividend from 27.5 cents to 30 cents per share on the company's common stock.
The revised dividend is payable on Jun 15, 2021, to shareholders of record at the close of business as of Jun 1, 2021. There were 60,723,629 shares of Ashland’s common stock outstanding as of Apr 30, 2021.
Shares of Ashland have gained 38.4% in the past year against 7.3% fall of the industry.
Ashland is committed toward boosting its free cash flows through several initiatives including reduction in capital spending and net working capital. It is focused on expanding margins and improving free cash flow conversion.
Notably, the company’s cash provided by operating activities was $64 million in second quarter of fiscal 2021. Free cash flow was $40 million for the quarter. Its cash and cash equivalents also rose around 6% year over year to $373 million at the end of the fiscal second quarter.
Ashland, in its last earnings call, stated that it expects to recover a part of the lost cost absorption for the fiscal year, as affected facilities are working to make up for some of the lost production during the fiscal second quarter. The company also reaffirmed its expectations for full-year results.
Some better-ranked stocks in the basic materials space are Dow Inc. (DOW - Free Report) , Celanese Corporation (CE - Free Report) and Cabot Corporation (CBT - Free Report) .
Dow has a projected earnings growth rate of roughly 261.5% for the current year. The company’s shares have surged 89% in a year. It currently flaunts a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Celanese has an expected earnings growth rate of around 68.3% for the current year. The company’s shares have gained 92.1% in the past year. It currently sports a Zacks Rank #1.
Cabot has an expected earnings growth rate of around 126% for the current fiscal. The company’s shares have surged 81.1% in the past year. It currently flaunts a Zacks Rank #1.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 77 billion devices by 2025, creating a $1.3 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 4 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2022.
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Ashland's (ASH) Board Approves Increase in Dividend by 9%
Ashland Global Holdings Inc. (ASH - Free Report) announced that its Board has authorized a 9% increase in the quarterly dividend from 27.5 cents to 30 cents per share on the company's common stock.
The revised dividend is payable on Jun 15, 2021, to shareholders of record at the close of business as of Jun 1, 2021. There were 60,723,629 shares of Ashland’s common stock outstanding as of Apr 30, 2021.
Shares of Ashland have gained 38.4% in the past year against 7.3% fall of the industry.
Ashland is committed toward boosting its free cash flows through several initiatives including reduction in capital spending and net working capital. It is focused on expanding margins and improving free cash flow conversion.
Notably, the company’s cash provided by operating activities was $64 million in second quarter of fiscal 2021. Free cash flow was $40 million for the quarter. Its cash and cash equivalents also rose around 6% year over year to $373 million at the end of the fiscal second quarter.
Ashland, in its last earnings call, stated that it expects to recover a part of the lost cost absorption for the fiscal year, as affected facilities are working to make up for some of the lost production during the fiscal second quarter. The company also reaffirmed its expectations for full-year results.
Ashland Global Holdings Inc. Price and Consensus
Ashland Global Holdings Inc. price-consensus-chart | Ashland Global Holdings Inc. Quote
Zacks Rank & Key Picks
Ashland currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the basic materials space are Dow Inc. (DOW - Free Report) , Celanese Corporation (CE - Free Report) and Cabot Corporation (CBT - Free Report) .
Dow has a projected earnings growth rate of roughly 261.5% for the current year. The company’s shares have surged 89% in a year. It currently flaunts a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Celanese has an expected earnings growth rate of around 68.3% for the current year. The company’s shares have gained 92.1% in the past year. It currently sports a Zacks Rank #1.
Cabot has an expected earnings growth rate of around 126% for the current fiscal. The company’s shares have surged 81.1% in the past year. It currently flaunts a Zacks Rank #1.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 77 billion devices by 2025, creating a $1.3 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 4 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2022.
Click here for the 4 trades >>