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Methanex Corp - MEOH STOCK NEWS

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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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FAQ

What is the current stock price of Methanex (MEOH)?

The current stock price of Methanex (MEOH) is $46.38 as of December 20, 2024.

What is the market cap of Methanex (MEOH)?

The market cap of Methanex (MEOH) is approximately 3.1B.

What does Methanex Corporation do?

Methanex Corporation is the world's largest producer and supplier of methanol, used in various consumer and industrial products, and energy applications.

Where is Methanex headquartered?

Methanex is headquartered in Vancouver, Canada.

On which stock exchanges is Methanex listed?

Methanex is listed on the Toronto Stock Exchange under the symbol 'MX' and on the NASDAQ Global Market under the symbol 'MEOH'.

What are some uses of methanol?

Methanol is used in the production of building materials, foams, resins, plastics, MTBE, and as a component of biodiesel and high-octane fuel.

Which market generates the most revenue for Methanex?

China is the largest revenue-generating market for Methanex.

How does Methanex distribute its products?

Methanex distributes its products through a global supply chain that includes port terminals, tankers, barges, rail cars, trucks, and pipelines.

What recent achievements has Methanex made?

Methanex has reported strong production highlights and a positive outlook for 2023, reflecting its robust financial condition and operational excellence.

How can I contact Methanex for investor inquiries?

For investor inquiries, you can contact Sarah Herriott, Director of Investor Relations, at 604-661-2600 or Toll-Free at 1-800-661-8851.

What is Methanex's approach to sustainability?

Methanex focuses on sustainability through innovation and operational efficiencies, strengthening its market position.

Where can I find more information about Methanex?

You can find more information by visiting their official website at www.methanex.com.

Methanex Corp

Nasdaq:MEOH

MEOH Rankings

MEOH Stock Data

3.13B
66.94M
0.35%
80.51%
1.09%
Chemicals
Basic Materials
Link
United States of America
Vancouver