Key Details
Price
$65.54Last Dividend
$0.17Annual ROE
2.89%Beta
0.65Events Calendar
Next earnings date:
Feb 05, 2025Recent quarterly earnings:
Nov 06, 2024Recent annual earnings:
Jan 31, 2024Next ex-dividend date:
Mar 03, 2025Recent ex-dividend date:
Dec 02, 2024Next split:
N/ARecent split:
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On January 27, 2025, Corteva, Inc. (NYSE: CTVA) revealed that its Board of Directors has approved a dividend of $0.17 per share for common stock, which will be paid on March 17, 2025, to shareholders recorded by March 3, 2025. Additionally, EIDP, Inc. has also announced a preferred stock dividend.
Corteva: A Strong Investment Based on Commodity Prices
As President Trump is set to return to the White House in 2025, many are wondering about his plans for trade policies and import tariffs. The agriculture sector in the United States is preparing for potential changes.
Corteva emphasizes its financial plan until 2027. The company has also approved a new share buyback program worth $3 billion.
Corteva, Inc. (NYSE: CTVA) announced on November 19, 2024, that its Board of Directors has approved a new share repurchase program worth $3 billion. This program is effective right away, has no expiration date, and allows management to decide when to buy back shares. This move shows the company's commitment to careful investment of its capital.
Corteva presented its plans at the 2024 Investor Day in Indianapolis, focusing on how to provide value to shareholders while tackling three major global issues: food security due to a rising population and limited farmland, climate change causing severe weather and pest problems, and the shift from fossil fuels to biofuels. The company believes that innovation will be key to solving these challenges.
On November 18, 2024, Corteva Inc. announced a partnership with bp to create a joint venture focused on crop-based biofuel feedstocks. This collaboration aims to produce and supply these feedstocks to support the expected increase in demand for sustainable aviation fuel (SAF).
Corteva has revealed a groundbreaking non-GMO hybrid technology for wheat, which is a significant advancement for this essential crop. Unlike corn, which has greatly benefited from hybrid technology, wheat has faced challenges that have made it difficult to achieve consistent and cost-effective improvements in yield. This new system is expected to provide a strong foundation for future growth in wheat productivity.
This Industry Outlook article has featured Corteva, Dole, Adecoagro, and Calavo Growers.
I maintain a 'Buy' recommendation for Corteva, setting a target price of $68 per share due to expected improvements in profit margins and market recovery. Although Corteva's Q3 performance in Latin America was not strong, they are likely to see better margins in FY25 thanks to lower raw material costs and effective cost management. The management predicts a stable crop protection market for FY25, with major savings from reduced seed commodity prices and falling raw material costs.
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