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 (NASDAQ: MEOH, TSX: MX) is the world's largest producer and supplier of methanol, a versatile liquid chemical derived primarily from natural gas. Headquartered in Vancouver, Canada, Methanex serves major international markets in North America, Asia Pacific, Europe, and Latin America. The company's extensive global supply chain includes port terminals, tankers, barges, rail cars, trucks, and pipelines, enabling efficient distribution to various industries.
Methanol produced by Methanex is used as a chemical feedstock in the manufacturing of a wide range of consumer and industrial products, such as building materials, foams, resins, and plastics. It also plays a vital role in energy applications, including the production of methyl tertiary-butyl ether (MTBE) and as a component of biodiesel and high-octane fuel. The company's operations are strategically located to optimize supply and demand dynamics across the globe, with China being its largest revenue-generating market.
Recent achievements highlight Methanex's robust financial condition and commitment to operational excellence. The company continually reviews and updates the operating capacity of its production facilities to reflect ongoing efficiencies and market conditions. Key production highlights from the third and fourth quarters of 2023 indicate a strong performance and positive production outlook.
Strategic partnerships and long-term customer relationships are fundamental to Methanex's business model, ensuring a steady demand for its products. The company's focus on sustainability and innovation further strengthens its market position, making it a significant player in the global methanol industry.
For more information, you can visit Methanex's official website or contact their Investor Relations team.
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.
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.
Methanex Corporation announced that President and CEO, John Floren, will present at the 25th Annual Virtual CIBC Western Institutional Investor Conference on January 19, 2022, at 7:40 a.m. PT (10:40 a.m. ET). The presentation will provide insights into the company, which is the world’s largest supplier of methanol. Investors can access a recording of the event on Methanex's website shortly after its conclusion, lasting approximately 30 minutes.
Methanex trades on the NASDAQ under the symbol MEOH.
Methanex Corporation (NASDAQ: MEOH) announced the appointment of Xiaoping Yang to its Board of Directors, effective January 1, 2022. With over 30 years in the energy and petrochemical sectors, Ms. Yang brings extensive experience in international business, particularly in China and commodity markets. Previously, she served in various executive roles at BP, including Chair of BP China. Methanex's Chair, Doug Arnell, highlighted Yang's insights as valuable for the company's board diversity and strength.
Methanex Corporation (NASDAQ: MEOH) announced a quarterly dividend of US$0.125 per share, payable on December 31, 2021. Shareholders of record as of December 17, 2021 will receive this payment. As the world's largest methanol producer, Methanex continues to solidify its position in the market. The company is publicly traded on the NASDAQ and the Toronto Stock Exchange.
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