Methanex Corp Stock Price, News & Analysis

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

Methanex Corporation (NASDAQ: MEOH) has declared a quarterly dividend of US$0.0375 per share, payable on June 30, 2021, to shareholders of record as of June 16, 2021. As the world's largest methanol producer, Methanex continues to uphold its commitment to returning value to shareholders through consistent dividend payments.

Methanex reported a strong financial performance for Q1 2021, with net income of $105 million compared to a net loss of $27 million in Q4 2020. Adjusted EBITDA rose to $242 million, significantly up from $136 million in the previous quarter, driven by higher methanol prices, which increased by $81 per tonne to $363 per tonne. The company maintains a robust liquidity position with $856 million in cash and no debt maturities until 2024. Production levels are stable, with a focus on increasing capacity through ongoing projects.

Methanex Corporation (NASDAQ:MEOH) has declared a quarterly dividend of US$0.0375 per share, to be paid on March 31, 2021. Shareholders of record as of March 17, 2021 are eligible. Based in Vancouver, Methanex is the world's largest producer of methanol, serving major international markets. The company is publicly traded on both the Toronto Stock Exchange and NASDAQ. For more information, visit www.methanex.com.

Methanex reported a net loss attributable to shareholders of $27 million for Q4 2020, an improvement from the $88 million loss in Q3 2020. Adjusted EBITDA rose to $136 million, up from $40 million in Q3, driven by a 30% increase in average realized methanol price to $282 per tonne. Despite a challenging 2020 due to COVID-19, the company ended the year with $834 million in cash and a $300 million undrawn credit facility. Production insights show upcoming challenges, particularly in New Zealand, affecting production outlook for 2021.

Methanex Corporation (NASDAQ:MEOH) announced that its Titan methanol facility in Trinidad will remain idled indefinitely due to unsuccessful negotiations for a longer-term natural gas agreement. Consequently, the company will restructure its Trinidad operations and reduce its workforce by approximately 60 positions. Despite this, the Atlas facility continues operation, supported by its own gas supply agreement. CEO John Floren reaffirmed Methanex's commitment to Trinidad and hopes to secure a future gas agreement. The company focuses on managing costs while maintaining its global production capacity.

Waterfront Shipping has announced the addition of eight new methanol dual-fuel vessels to its fleet, enhancing its commitment to efficient and environmental-friendly marine transportation. The vessels, built in South Korea, will optimize engine performance and are designed to comply with stringent emissions regulations. With this order, approximately 60% of the fleet will be powered by methanol, known for reducing CO₂ emissions by up to 15% compared to conventional fuels. This move is part of a broader strategy to support the marine industry's transition to cleaner fuels.

Methanex Corporation (NASDAQ: MEOH) has declared a quarterly dividend of US$0.0375 per share, to be paid on December 31, 2020. Shareholders of record as of December 17, 2020 will receive this dividend. Methanex is recognized as the largest global producer and supplier of methanol, trading on the Toronto Stock Exchange (MX) and NASDAQ. This dividend declaration reflects the company's ongoing commitment to return value to its shareholders.

Methanex reported a net loss of $88 million for Q3 2020, compared to a loss of $65 million in Q2 2020. Adjusted EBITDA rose to $40 million from $32 million, driven by improved methanol prices and demand. Total sales volume was 12,678 thousand tonnes, with an average realized price of $3217 per tonne. The company issued $700 million in senior unsecured notes and repaid $200 million on its revolving credit, while enhancing liquidity to $1.2 billion. Production decreased to 1,372 thousand tonnes due to maintenance and gas delivery issues. A planned maintenance at plants and a debottlenecking project are underway to increase capacity.