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 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.
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.
Methanex Corporation (NASDAQ: MEOH) held its Annual General Meeting on April 28, 2022, in Vancouver, British Columbia. A total of 61,242,426 common shares were voted, representing 83.08% of outstanding shares. Shareholders approved all agenda items, including the election of directors with over 99% votes in favor for most nominees. KPMG LLP was re-appointed as auditors, though only 58.51% votes were for their reappointment. Additionally, an advisory vote on executive compensation was approved with 68.22% in favor, indicating shareholder support for the company's compensation practices.
Methanex reported a net income of $119 million for Q1 2022, down from $201 million in Q4 2021. Adjusted EBITDA was $337 million, slightly lower than $340 million in the previous quarter. The average realized methanol price fell to $425 per tonne. Despite a robust balance sheet with $1.1 billion in cash, production decreased due to outages. Methanex's Geismar 3 project is on track to commence by late 2023/early 2024. A 16% dividend increase to $0.145 per share was approved, alongside an expanded share buyback program.
Methanex Corporation (NASDAQ: MEOH) has amended its Normal Course Issuer Bid, increasing the number of shares eligible for repurchase from 3,810,464 to 6,094,171. The company, which has already repurchased 3,810,464 shares at an average price of $47.83, is set to continue purchases from May 2, 2022, until September 23, 2022. The amendment follows a strong financial position and robust methanol prices, allowing Methanex to return excess cash to shareholders while funding its Geismar 3 project costs. All repurchased shares will be canceled.
Methanex Corporation has announced a 16% increase in its quarterly dividend, raising it from US$0.125 to US$0.145 per share. This increase is effective for the dividend payable on June 30, 2022, to shareholders on record as of June 16, 2022. Methanex, headquartered in Vancouver, is the world's largest producer and supplier of methanol, listed under the symbols MX and MEOH on the Toronto Stock Exchange and NASDAQ, respectively.
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Methanex Corporation (NASDAQ:MEOH) has finalized a strategic partnership with Mitsui O.S.K. Lines, Ltd., acquiring approximately US$145 million for a 40% stake in its subsidiary, Waterfront Shipping (WFS). Methanex retains a 60% majority interest and will manage WFS, leveraging its position as a leading methanol producer and shipper. This partnership aims to promote methanol, especially renewable methanol, as a competitive marine fuel that significantly reduces emissions compared to traditional fuels.
Methanex Corporation, the largest global methanol supplier, has announced a quarterly dividend of US$0.125 per share. This dividend will be payable on March 31, 2022 to shareholders on record as of March 17, 2022. The company, listed on the NASDAQ under the ticker symbol MEOH, continues to bolster shareholder returns amid its leading market position.
Methanex reported robust fourth-quarter results for 2021, with net income attributable to shareholders reaching $201 million compared to $71 million in Q3. The increase is attributed to higher methanol prices, which rose to an average realized price of $445 per tonne. Adjusted EBITDA for the quarter was $340 million, up from $264 million. Production increased by 31% quarter-over-quarter, aided by higher output in Chile and record production in Geismar. The Geismar 3 project is on track for completion by late 2023 or early 2024, and the company returned $68 million to shareholders through buybacks and dividends.