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 reported a net income of $71 million for Q3 2021, down from $107 million in Q2, attributed to changes in share-based compensation. Adjusted EBITDA rose to $264 million from $262 million, propelled by a higher average realized price of $390 per tonne. Global methanol prices are projected to increase due to energy shortages and rising feedstock costs. The company has restarted construction on the Geismar 3 project, targeting completion by late 2023/early 2024. A quarterly dividend of $0.125 per share was declared alongside a 5% share buyback program.
M&G Investments, owning approximately 19.5% of Methanex (MEOH), issued a supportive letter to the board on September 30, 2021. They praised the company's strategic direction, including the restart of the G3 project and efforts to reduce leverage. M&G emphasized their backing of share buybacks to enhance shareholder value, believing that Methanex is on the right path to increase value despite past concerns about the G3 project. They anticipate strong cash flow and a favorable financial position as the company progresses.
Methanex Corporation (NASDAQ: MEOH) has announced a Normal Course Issuer Bid (NCIB) to purchase up to 3,810,464 common shares, representing 5% of its outstanding shares. The buyback will take place from September 24, 2021, to September 23, 2022. This initiative is part of Methanex's strategy to return excess cash to shareholders, supported by a strong financial position and favorable methanol prices. John Floren, President and CEO, highlighted that this program builds on their history of shareholder returns.
Methanex reported a net income of $107 million for Q2 2021, slightly up from $105 million in Q1 2021, largely due to increased methanol prices. Adjusted EBITDA rose to $262 million from $242 million, driven by strong demand amid supply challenges. The company ended Q2 with over $750 million in cash and announced significant developments including the restart of the Geismar 3 project and a strategic shipping partnership which will generate $145 million in capital. The quarterly dividend has been increased to $0.125 per share.
Methanex Corporation (NASDAQ:MEOH) announced a dividend increase from US$0.0375 to US$0.125 per share, effective September 30, 2021. The new dividend applies to shareholders on record as of September 16, 2021. This decision reflects the company's commitment to returning value to its shareholders as it continues to lead in global methanol production and supply.
Methanex Corporation announced the restart of its Geismar 3 project and a dividend increase to $0.125 per share from $0.0375. This decision aligns with the company's capital allocation priorities aimed at enhancing shareholder value. The Geismar 3 project is strategically positioned to benefit from positive methanol industry trends, with estimated construction costs of $1.25 to $1.35 billion and anticipated completion by late 2023/early 2024. Additionally, a partnership with Mitsui O.S.K. Lines is expected to unlock $145 million in non-dilutive capital.
Methanex Corporation (NASDAQ: MEOH) and Mitsui O.S.K. Lines (MOL) have finalized key commercial terms for a strategic partnership involving Methanex's subsidiary, Waterfront Shipping (WFS). MOL will acquire a 40% minority stake in WFS for $145 million, while Methanex retains 60%. This partnership aims to leverage MOL's shipping expertise to enhance WFS's operations and promote methanol as a low-emission marine fuel. The deal awaits regulatory approval, with closing expected by year-end. Methanol is noted for its ability to significantly reduce harmful emissions in maritime transport.
Methanex, through its subsidiary Waterfront Shipping, launched the world's first barge-to-ship methanol bunkering operation at the Port of Rotterdam. The operation utilized the Takaroa Sun vessel, demonstrating methanol's viability as a low-emission fuel alternative. This initiative aims to support the maritime industry's emission reduction goals. With over 100,000 hours of operation using methanol, Waterfront Shipping has ordered eight additional methanol-fuelled vessels, solidifying its commitment to cleaner marine fuel solutions.
Methanex Corporation (NASDAQ:MEOH) announced the results of its Annual General Meeting held on April 29, 2021, where 59,353,231 common shares were voted, representing 77.88% of outstanding shares. All items of business were approved, including the election of director nominees. Key results include:
- Douglas Arnell: 76.60% votes for
- James Bertram: 76.55% votes for
- Phillip Cook: 75.16% votes for
- Paul Dobson: 76.60% votes for
- John Floren: 76.60% votes for
- Maureen Howe: 76.19% votes for
- Robert Kostelnik: 74.33% votes for
- Leslie O’Donoghue: 99.30% votes for
- Kevin Rodgers: 97.72% votes for
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