Welcome to our dedicated page for Methanex news (Ticker: MEOH), a resource for investors and traders seeking the latest updates and insights on Methanex stock.
Methanex Corp (MEOH) is the world's leading methanol producer, supplying this essential chemical feedstock to global energy and manufacturing markets. This news hub provides investors and industry professionals with timely updates on corporate developments, operational milestones, and strategic initiatives shaping the methanol industry.
Access official press releases covering quarterly earnings, production capacity changes, and supply chain innovations alongside analysis of market trends impacting methanol demand. Our curated collection helps stakeholders monitor regulatory developments, sustainability initiatives, and partnership announcements critical to Methanex's position in the chemicals sector.
Key updates include plant operations across North America and Asia-Pacific regions, logistics network expansions, and technological advancements in methanol production. Bookmark this page for direct access to filings, executive commentary, and operational updates from the global leader in methanol supply chain solutions.
Methanex Corporation (NASDAQ: MEOH) has declared a quarterly dividend of US$0.175 per share, payable on December 31, 2022. Shareholders of record as of December 17, 2022 will receive this dividend. Methanex, based in Vancouver, is the world's largest producer of methanol, serving major international markets. The company trades under the ticker symbol MEOH on NASDAQ and MX on the TSX.
Methanex reported net income of $69 million for Q3 2022, down from $125 million in Q2 2022, mainly due to lower methanol prices and planned turnarounds in Egypt and New Zealand. Adjusted EBITDA was $192 million, also lower than the previous quarter's $243 million. The company is on track to start producing methanol from the Geismar 3 project in Q4 2023, funded with cash on hand. In July, they increased the quarterly dividend by 20% and announced a 5% share repurchase program. Methanex ended Q3 with $962 million in cash, maintaining robust liquidity.
Methanex Corporation (NASDAQ: MEOH) announced a multi-million-dollar investment to enhance carbon emissions reduction at its Motunui facility in New Zealand. The upgrade to distillation technology will be implemented over the next 12 months, with an anticipated economic payback in two years. Upon completion, the project could reduce carbon emissions by over 50,000 tonnes annually, equivalent to removing 20,000 cars from the road. This initiative aligns with Methanex's commitment to sustainability and the transition to a low-carbon economy.
Methanex Corporation (NASDAQ: MEOH) announced that the Toronto Stock Exchange approved its Normal Course Issuer Bid (NCIB) to buy back up to 3,506,405 shares, equating to 5% of its outstanding shares. The buyback will commence on September 26, 2022, and conclude by September 25, 2023, with daily limits on purchases. This decision reflects Methanex's strong financial position and commitment to returning excess cash to shareholders, following a previous buyback from September 2021 to July 2022 that successfully canceled over 6 million shares.
Methanex Corporation (NASDAQ: MEOH) announced a leadership change, with John Floren retiring as President and CEO on December 31, 2022. Rich Sumner, currently Senior Vice President of Global Marketing & Logistics, will succeed him starting January 1, 2023. The Board of Directors expressed confidence in Sumner's ability to lead the company, emphasizing his extensive experience since 2004. Under Floren, Methanex enhanced its production and returned approximately $2 billion to shareholders. The transition is aimed at reinforcing Methanex’s leading position in the methanol industry and fostering long-term shareholder value.
Methanex Corporation announced the approval of a Normal Course Issuer Bid (NCIB) to purchase up to 3,506,405 common shares, equating to 5% of its outstanding shares as of September 15, 2022. Purchases will commence no earlier than September 26, 2022, on the Toronto Stock Exchange (TSX). The NCIB aims to enhance shareholder value and reflects the company's strong balance sheet. Previously, Methanex repurchased 3,810,464 shares under a prior NCIB at an average price of $47.83.
Methanex reported a net income of $125 million for Q2 2022, with an Adjusted EBITDA of $243 million. The Geismar 3 project’s capital cost has been reduced by $50 million to $1.3 billion, with production expected by Q4 2023. The board announced a 20% dividend increase to $0.175 per share, reflecting a commitment to shareholder returns. Despite lower methanol sales and rising costs, cash reserves are strong at $878 million. Production decreased to 1,551,000 tonnes compared to the previous quarter, influenced by gas availability constraints in New Zealand.
Methanex Corporation (NASDAQ: MEOH) has announced a significant 20% increase in its quarterly dividend, moving from US$0.145 to US$0.175 per share. The new dividend will be payable on September 30, 2022, to shareholders recorded by September 16, 2022. This enhancement underscores the company's strong cash flow generation and commitment to returning capital to its investors, as stated by CEO John Floren.
Methanex Corporation (NASDAQ: MEOH) announced it will host an Investor Day on June 16, 2022, in Geismar, Louisiana. The event will feature presentations by Methanex’s leadership team, providing a detailed business update, followed by a live Q&A session at 12:00 PM central time. Interested investors can access a live webcast of the event at this link, with a replay available afterward. Methanex is recognized as the world's largest methanol supplier, trading under the symbols MX and MEOH.
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