ICL Group Raises Quarterly Dividend 12.8% to $0.053

ICL Group raised its quarterly dividend 12.8% to $0.053 a share from $0.047. The shares went ex-dividend on June 2, 2026, and the forward annual dividend is $0.21 a share.

Why the dividend changed

The board approved the higher distribution alongside ICL’s first-quarter results. The company reported stronger sales, operating income, adjusted earnings and cash from operations, with growth across each of its business segments. Higher bromine and potash prices contributed to the improvement, and management raised its full-year adjusted EBITDA guidance following the quarter. Those gains provided the earnings backdrop for the larger dividend. ICL’s first-quarter results

ICL’s distribution policy links dividends to adjusted net income. The board therefore resets the payment as profitability changes rather than treating the previous rate as a permanently rising base. That structure helps explain both the June increase and the substantial variation in annual distributions over the past several years. ICL’s dividend information

Management said the quarter benefited from resilient execution and the company’s geographically diversified operations. ICL also completed the acquisition of Bartek Ingredients and established a specialty fertilizer production facility in India, advancing its strategy of expanding specialty food and crop-nutrition businesses. These initiatives accompanied, rather than directly funded, the dividend decision. ICL’s first-quarter results

Dividend track record

The June payment continued a short-term recovery in ICL’s quarterly dividend. The amount rose from $0.047 with a March 10, 2026, ex-dividend date to $0.053 on June 2, 2026. A subsequent payment with a September 2, 2026, ex-dividend date increased to $0.058.

The longer record is much less consistent. Annual distributions climbed from $0.09 in 2020 to $0.21 in 2021 and $0.90 in 2022. They then fell 59.4% to $0.37 in 2023 and declined another 46.6% to $0.20 in 2024. The 2025 history lists two payments totaling $0.08, so that figure is not directly comparable with the four-payment annual totals in the preceding years.

ICL has 0 consecutive years of dividend growth, and its last annual cut occurred in 2024. The pattern is consistent with a variable distribution tied to adjusted profit: improving conditions can lift quarterly income quickly, but prior payments do not establish a durable growth streak.

Is the dividend covered?

The dividend consumes 79% of earnings. That leaves a narrower earnings cushion than a lower payout would provide, particularly for a company exposed to agricultural-input demand, commodity pricing, currency movements and raw-material costs.

SmarterDividends rates the dividend C, with a safety score of 52. That places it in the borderline (50-65) category. In plain terms, current earnings cover the distribution, but the combination of a high payout ratio and a history of variable payments provides limited protection if profits weaken.

Yield and valuation

ICL’s forward yield is 3.88%, compared with a Basic Materials sector median of 1.88%. The higher yield compensates investors with more current income than the sector midpoint, while the payment history shows that the amount can change materially with the company’s results.

At a share price of $5.22, SmarterDividends estimates fair value at $7.53 and classifies the shares as undervalued, representing 40% upside to that estimate. The valuation assessment is separate from dividend safety: a discount to estimated fair value does not increase the earnings cushion supporting the payment.

What to watch

Future declarations will depend heavily on adjusted profit under ICL’s distribution policy. The key operating indicators are bromine and potash pricing, potash sales volumes, raw-material costs and currency movements. Management cited the favorable pricing environment when raising guidance, while also identifying raw-material costs and other market headwinds as items requiring active management. ICL’s first-quarter results

Investors can also track the integration of Bartek Ingredients and the expansion of specialty fertilizer production in India. Progress in specialty crop nutrition and specialty food solutions will show whether ICL is reducing its dependence on more cyclical commodity operations. The subsequent $0.058 payment indicates that the quarterly distribution continued to move after June, but ICL’s record makes each new board declaration more informative than an assumed annual run rate.