International Paper Co (NYSE:IP) declared a quarterly dividend on Tuesday, July 9th, RTT News reports. Stockholders of record on Thursday, August 15th will be given a dividend of 0.50 per share by the basic materials company on Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.19%. The ex-dividend date is Wednesday, August 14th.
International Paper has increased its dividend by an average of 5.5% annually over the last three years and has raised its dividend annually for the last 7 consecutive years. International Paper has a dividend payout ratio of 38.4% meaning its dividend is sufficiently covered by earnings. Analysts expect International Paper to earn $4.27 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 46.8%.
NYSE:IP opened at $38.54 on Tuesday. International Paper has a 12 month low of $37.55 and a 12 month high of $54.95. The company has a market capitalization of $15.65 billion, a price-to-earnings ratio of 7.24, a price-to-earnings-growth ratio of 1.69 and a beta of 1.49. The company has a debt-to-equity ratio of 1.38, a quick ratio of 1.02 and a current ratio of 1.46. The company has a 50 day moving average price of $42.84.
In other International Paper news, SVP Thomas J. Plath sold 1,000 shares of International Paper stock in a transaction on Friday, May 17th. The shares were sold at an average price of $45.17, for a total transaction of $45,170.00. Following the sale, the senior vice president now owns 30,671 shares in the company, valued at $1,385,409.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Sharon R. Ryan sold 22,507 shares of International Paper stock in a transaction on Friday, July 26th. The stock was sold at an average price of $44.97, for a total transaction of $1,012,139.79. Following the sale, the senior vice president now owns 61,554 shares in the company, valued at approximately $2,768,083.38. The disclosure for this sale can be found here. Insiders own 0.33% of the company’s stock.
IP has been the topic of a number of recent analyst reports. KeyCorp reissued a “sell” rating and issued a $38.00 price target on shares of International Paper in a research report on Thursday, July 25th. Bank of America lowered shares of International Paper from a “buy” rating to a “neutral” rating in a research report on Tuesday, April 16th. Citigroup lowered shares of International Paper from a “buy” rating to a “neutral” rating and dropped their price target for the company from $53.00 to $45.00 in a research report on Thursday, July 11th. UBS Group set a $50.00 target price on shares of International Paper and gave the stock a “buy” rating in a research report on Monday, June 24th. Finally, Stephens lowered shares of International Paper from an “overweight” rating to an “equal weight” rating and set a $60.00 target price on the stock. in a research report on Monday, June 24th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the stock. International Paper presently has a consensus rating of “Hold” and a consensus target price of $47.82.
About International Paper
International Paper Co engages in the manufacture of paper and packaging products. It operates through the following segments: Industrial Packaging, Global Cellulose Fibers, and Printing Papers. The Industrial Packaging segment involves in the manufacturing of containerboards, which include linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating kraft.
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