Tronox’s quarterly dividend
On August 15, Tronox (TROX) announced its latest quarterly dividend of $0.045 per share. The dividend will be paid on the company’s outstanding class A and class B ordinary shares. Tronox set the record date as August 27. Investors holding shares as of the record date are eligible for the dividend. The dividends are expected to be paid on September 7.
At the end of the second quarter, including class A and class B shares, the total number of outstanding shares stood at ~122.9 million. If Tronox doesn’t buy back any shares before the record date, it would be paying ~$5.53 million towards the quarterly dividend. As of August 17, Tronox’s dividend yield was 1.05%.
Stock price update
Tronox stock fell 4.1%% and closed at $15.31 for the week ending August 17. The decline in the stock price caused Tronox to trade 16.8% below its 100-day moving average of $18.39, which indicates a downward trend in the stock. On a year-to-date basis, the stock has declined 26.9%. Chemours (CC) and FMC (FMC) have fallen 16.8% and 10.8%, respectively. W.R. Grace (GRA) has a marginal gain of 0.4% YTD. Tronox’s relative strength index of 35 indicates that the stock is very close to being oversold.
Investors could hold Tronox indirectly by investing in the VanEck Vectors Rare Earth Strategic Metals ETF (REMX), which has invested 4.6% of its portfolio in Tronox as of August 17.