International Paper Co (NYSE:IP) to Issue Quarterly Dividend of $0.51

International Paper Co (NYSE:IP) announced a quarterly dividend on Tuesday, May 12th, RTT News reports. Stockholders of record on Wednesday, May 27th will be given a dividend of 0.5125 per share by the basic materials company on Monday, June 15th. This represents a $2.05 dividend on an annualized basis and a dividend yield of 6.69%.

International Paper has increased its dividend by an average of 3.3% annually over the last three years and has raised its dividend annually for the last 8 consecutive years. International Paper has a dividend payout ratio of 95.8% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Research analysts expect International Paper to earn $2.27 per share next year, which means the company should continue to be able to cover its $2.05 annual dividend with an expected future payout ratio of 90.3%.

NYSE:IP traded down $1.47 during midday trading on Wednesday, reaching $30.65. 1,723,538 shares of the company traded hands, compared to its average volume of 3,590,018. The firm has a market capitalization of $13.00 billion, a price-to-earnings ratio of 18.54 and a beta of 1.35. The company has a fifty day moving average price of $31.88 and a 200 day moving average price of $40.24. International Paper has a twelve month low of $26.38 and a twelve month high of $47.64. The company has a debt-to-equity ratio of 1.44, a current ratio of 0.77 and a quick ratio of 0.56.

International Paper (NYSE:IP) last posted its quarterly earnings data on Thursday, April 30th. The basic materials company reported $0.57 EPS for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.15. The company had revenue of $5.35 billion for the quarter, compared to analyst estimates of $5.32 billion. International Paper had a return on equity of 20.98% and a net margin of 2.99%. The firm’s quarterly revenue was down 5.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.11 earnings per share. On average, equities research analysts forecast that International Paper will post 2.1 earnings per share for the current fiscal year.

Several equities analysts recently weighed in on IP shares. Credit Suisse Group assumed coverage on shares of International Paper in a research report on Friday, February 14th. They issued a “neutral” rating and a $48.00 price target on the stock. Cfra dropped their price target on shares of International Paper from $45.00 to $36.00 and set a “hold” rating on the stock in a research report on Friday, May 1st. ValuEngine cut shares of International Paper from a “hold” rating to a “sell” rating in a research report on Friday, May 1st. Wells Fargo & Co increased their price target on International Paper from $32.00 to $34.00 and gave the company an “equal weight” rating in a research report on Friday, May 1st. Finally, Zacks Investment Research cut International Paper from a “hold” rating to a “sell” rating and set a $35.00 price objective on the stock. in a research report on Tuesday, May 5th. Four analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company’s stock. International Paper currently has an average rating of “Hold” and a consensus price target of $42.83.

In related news, SVP William Thomas Hamic sold 4,000 shares of International Paper stock in a transaction on Wednesday, March 18th. The shares were sold at an average price of $32.41, for a total value of $129,640.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP W. Michael Jr. Amick sold 16,000 shares of International Paper stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $42.94, for a total transaction of $687,040.00. Following the completion of the transaction, the senior vice president now directly owns 27,194 shares in the company, valued at $1,167,710.36. The disclosure for this sale can be found here. In the last three months, insiders sold 31,000 shares of company stock valued at $1,297,820. 0.37% of the stock is currently owned by corporate insiders.

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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