DowDuPont declared its quarterly dividend
In a press release on February 14, DowDuPont (DWDP) announced its regular quarterly dividend for the first quarter. In order to be eligible for the dividend, investors should hold DowDuPont shares as of February 28. DowDuPont is expected to pay the dividend on March 15. In the first quarter, DowDuPont declared the sixth dividend since the merger of Dow Chemical and DuPont.
DowDuPont declared a dividend of $0.38 per share, which indicates that there isn’t a change in the dividend rate year-over-year or from the previous quarter. At the end of the fourth quarter for 2018, DowDuPont had 2.29 billion outstanding shares. If DowDuPont doesn’t buyback any shares before the record date, then it would be spending $871.30 million towards the dividend payment.
DowDuPont’s stock price
DowDuPont’s stock price rose 4.9% and closed at $54.24 for the week ending February 15. Despite the gain in the stock price, DowDuPont traded 4.25% below the 100-day moving average price of $56.65. DowDuPont’s 100-day moving average has fallen from a high of $67.6 to the current levels in the past six months, which indicates weakness in the stock. However, DowDuPont has risen 2.3% in 2019. DowDuPont’s 14-day relative strength index of 50 indicates that the stock isn’t overbought or oversold.
Investors could hold DowDuPont indirectly by investing in the Materials Select Sector SPDR Fund (XLB). XLB has invested 21.4% of its portfolio in DowDuPont. XLB also provides exposure to Linde (LIN), Air Products and Chemicals (APD), and LyondellBasell (LYB) with weights of 16.2%, 6.6%, and 4.75%, respectively, as of February 15.