Bunge Ltd (NYSE:BG) declared a quarterly dividend on Wednesday, May 22nd, RTT News reports. Shareholders of record on Tuesday, August 20th will be paid a dividend of 0.50 per share by the basic materials company on Tuesday, September 3rd. This represents a $2.00 dividend on an annualized basis and a yield of 3.64%. The ex-dividend date of this dividend is Monday, August 19th.
Bunge has raised its dividend by an average of 10.1% annually over the last three years and has increased its dividend every year for the last 17 years. Bunge has a payout ratio of 38.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Bunge to earn $3.48 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 57.5%.
Shares of BG opened at $54.87 on Friday. The stock has a market cap of $7.62 billion, a price-to-earnings ratio of 12.01 and a beta of 0.88. The company has a quick ratio of 0.70, a current ratio of 1.49 and a debt-to-equity ratio of 0.82. Bunge has a 12 month low of $47.26 and a 12 month high of $72.35. The company has a 50-day moving average price of $56.36 and a two-hundred day moving average price of $53.80.
In other news, CEO Gregory A. Heckman bought 38,588 shares of the business’s stock in a transaction dated Tuesday, May 21st. The stock was bought at an average price of $51.93 per share, for a total transaction of $2,003,874.84. Following the completion of the purchase, the chief executive officer now owns 55,054 shares of the company’s stock, valued at approximately $2,858,954.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Henry Ward Iv Winship purchased 4,000 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The stock was bought at an average cost of $51.40 per share, with a total value of $205,600.00. Following the acquisition, the director now owns 6,086 shares of the company’s stock, valued at $312,820.40. The disclosure for this purchase can be found here. Insiders bought 212,588 shares of company stock valued at $10,882,275 in the last quarter. 3.18% of the stock is currently owned by corporate insiders.
A number of research analysts have recently issued reports on the stock. TheStreet upgraded shares of Bunge from a “c+” rating to a “b” rating in a research note on Wednesday, July 31st. ValuEngine cut shares of Bunge from a “hold” rating to a “sell” rating in a research note on Saturday, May 4th. Finally, Zacks Investment Research cut shares of Bunge from a “buy” rating to a “hold” rating in a research note on Thursday, August 8th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $71.50.
Bunge Limited operates as an agribusiness and food company worldwide. It operates in five segments: Agribusiness, Edible Oil Products, Milling Products, Sugar and Bioenergy, and Fertilizer. The Agribusiness segment purchases, stores, transports, processes, and sells agricultural commodities and commodity products, including oilseeds primarily soybeans, rapeseed, canola, and sunflower seeds, as well as grains primarily wheat and corn; and vegetable oils and protein meals.
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