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Methanex Corporation reports developments tied to its global methanol production, marketing and distribution business. The company supplies methanol to customers in Asia Pacific, North America, Europe and South America, with production sites in Canada, Chile, Egypt, New Zealand, Trinidad and Tobago, and the United States.
Recurring news covers methanol production volumes, realized pricing, quarterly and annual operating results, cash dividends, balance-sheet actions, shareholder meeting results, board governance and sustainability reporting. Company updates also include low-carbon methanol market development and biomethanol fuel-supply initiatives for marine and industrial uses.
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Methanex reported strong financial results for Q1 2023, achieving a net income of $60 million and Adjusted EBITDA of $209 million. This reflects higher sales driven by increased production, with an average realized price of $371 per tonne. The Geismar 3 project is over 80% complete, expected to start production in Q4 2023, with remaining costs fully funded at $330 - 380 million. The board approved a 6% dividend increase to $0.185 per share, and Methanex returned $60 million to shareholders through dividends and repurchases. The company maintains a strong liquidity position with $780 million in cash.
Methanex Corporation (NASDAQ: MEOH) has announced a 6% increase in its quarterly dividend, raising it to US$0.185 per share from US$0.175. This change will take effect for the dividend payable on June 30, 2023, to shareholders on record as of June 16, 2023. Methanex is recognized as the world’s largest producer and supplier of methanol, operating primarily in major international markets. The company is publicly traded on both the Toronto Stock Exchange and NASDAQ, symbolized as MX and MEOH respectively.
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