One of the world’s leading producers of Methanol and Canada-based firm, Methanex, has announced that the Company’s Board of Directors has approved a quarterly dividend for holders of the Company’s common shares in the amount of US$ 0.25 per common share. The dividend will be paid on December 31, 2014 to shareholders of record at the close of business on December 17, 2014.
According to reports, the adjusted EBITDA at Methanex fell 14.37 per cent sequentially quarter on quarter to $137 million for the third quarter of 2014 due to a decrease in its average realized price dropping to $389 per ton from $450 per ton in second quarter of 2014.
Adjusted net income was $66 million or $0.69 per share on a diluted basis in the third quarter of 2014, compared to adjusted net income of $91 million or $0.94 per share on a diluted basis for the second quarter of 2014.
During the third quarter of 2014, Methanex continued to repurchase common shares approved by its board in the second quarter. Till the end of the quarter, it repurchased 2,701,399 or 56 per cent of the shares approved by the board for repurchasing.
Methanex is a Vancouver-based, publicly traded company and is the world’s largest supplier of methanol to major international markets. Methanex shares are listed for trading on the Toronto Stock Exchange in Canada under the trading symbol “MX” and on the NASDAQ Global Market in the United States under the trading symbol “MEOH”.
