Ashland declares a quarterly dividend
On January 31, Ashland (ASH) announced its regular cash dividend to its shareholders. Ashland announced a quarterly dividend of $0.25 per share—an increase of 11.1% over the previous year. To receive the dividend, investors should hold Ashland stock as of the close on March 1 in the company’s record. The dividend is expected to be paid on March 15.
At the end of the fourth quarter, Ashland had ~62.6 million outstanding common shares. Assuming that Ashland doesn’t buy back any outstanding common shares until the record date, it would be spending ~$15.65 million in the form of dividends.
Stock price update
Ashland stock remained flat in the past week. Ashland stock declined marginally by 0.2% and closed at $75.76 for the week ending February 1. The decline pushed the stock price to trade 2.6% below the 100-day moving average price of $77.76. Ashland’s 100-day moving average price has fallen from a high of $81.89 to the current level, which indicates weakness in the stock. So far in 2019, Ashland has gained 7.8%. Ashland’s 14-day relative strength index was at 53, which suggests that the stock isn’t overbought or oversold.
Ashland underperformed the Invesco Russell MidCap Pure Value ETF (PXMV), which gained 2.4% for the week. PXMV invests 1.3% of its portfolio in Ashland. PXMV also provides exposure to Avnet (AVT), Dish Network (DISH), and CNA Financial (CNA) with weights of 1.4%, 1.2%, and 1.2%, respectively, as of February 1.