International Paper Co Announces Quarterly Dividend of $0.50 (NYSE:IP)

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.

International Paper (NYSE:IP) last released its quarterly earnings results on Thursday, July 25th. The basic materials company reported $1.15 EPS for the quarter, beating the Zacks’ consensus estimate of $1.01 by $0.14. International Paper had a net margin of 6.88% and a return on equity of 30.14%. The company had revenue of $5.67 billion for the quarter, compared to analyst estimates of $5.77 billion. During the same quarter last year, the firm posted $1.19 earnings per share. The company’s quarterly revenue was down 2.8% compared to the same quarter last year. As a group, research analysts expect that International Paper will post 4.7 EPS for the current fiscal year.

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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Dividend History for International Paper (NYSE:IP)

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