Packaging Corp Of America (NYSE:PKG) announced a quarterly dividend on Wednesday, May 17th. Shareholders of record on Thursday, June 15th will be paid a dividend of 0.63 per share by the industrial products company on Friday, July 14th. This represents a $2.52 dividend on an annualized basis and a yield of 2.51%.

Packaging Corp Of America has increased its dividend by an average of 27.0% per year over the last three years and has raised its dividend every year for the last 6 years. Packaging Corp Of America has a payout ratio of 42.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect Packaging Corp Of America to earn $6.57 per share next year, which means the company should continue to be able to cover its $2.52 annual dividend with an expected future payout ratio of 38.4%.

Shares of Packaging Corp Of America (NYSE:PKG) traded down 2.27% during mid-day trading on Wednesday, reaching $100.55. 501,827 shares of the company’s stock were exchanged. The company’s 50-day moving average price is $95.50 and its 200-day moving average price is $90.54. The company has a market capitalization of $9.39 billion, a PE ratio of 20.52 and a beta of 1.84. Packaging Corp Of America has a one year low of $62.41 and a one year high of $103.17.

Packaging Corp Of America (NYSE:PKG) last posted its quarterly earnings results on Wednesday, April 26th. The industrial products company reported $1.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.24 by $0.03. Packaging Corp Of America had a net margin of 7.76% and a return on equity of 27.81%. The company had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same period last year, the firm posted $1.11 EPS. Packaging Corp Of America’s revenue for the quarter was up 9.7% compared to the same quarter last year. On average, equities analysts expect that Packaging Corp Of America will post $5.93 earnings per share for the current year.

Dividend History for Packaging Corp Of America (NYSE:PKG)

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A number of research firms have issued reports on PKG. Deutsche Bank AG raised their price target on shares of Packaging Corp Of America from $91.00 to $94.00 and gave the stock a “hold” rating in a research report on Tuesday, April 25th. Barclays PLC reduced their price target on shares of Packaging Corp Of America from $100.00 to $90.00 and set an “equal weight” rating for the company in a research report on Monday, May 1st. ValuEngine lowered shares of Packaging Corp Of America from a “buy” rating to a “hold” rating in a research report on Thursday, May 11th. BMO Capital Markets reissued a “buy” rating and set a $104.00 price target (up from $100.00) on shares of Packaging Corp Of America in a research report on Monday, May 1st. Finally, Jefferies Group LLC reissued a “buy” rating and set a $114.00 price target (up from $107.00) on shares of Packaging Corp Of America in a research report on Saturday, April 29th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company’s stock. Packaging Corp Of America has an average rating of “Hold” and an average target price of $95.17.

About Packaging Corp Of America

Packaging Corporation of America (PCA) is a producer of containerboard products and uncoated freesheet. The Company operates through three segments: Packaging, Paper, and Corporate and Other. The Packaging segment produces a range of corrugated packaging products. The Paper segment manufactures and sells a range of papers, including communication-based papers and pressure sensitive papers.

5 Day Chart for NYSE:PKG

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