Unilever PLC (NYSE:UL) Announces Dividend Increase – $0.41 Per Share
Unilever PLC (NYSE:UL) announced a quarterly dividend on Friday, July 21st, NASDAQ reports. Shareholders of record on Friday, August 4th will be given a dividend of 0.409 per share on Wednesday, September 6th. This represents a $1.64 annualized dividend and a yield of 2.87%. The ex-dividend date is Wednesday, August 2nd. This is an increase from Unilever PLC’s previous quarterly dividend of $0.38.
Unilever PLC has decreased its dividend by an average of 0.1% per year over the last three years. Unilever PLC has a payout ratio of 65.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Unilever PLC to earn $2.84 per share next year, which means the company should continue to be able to cover its $1.64 annual dividend with an expected future payout ratio of 57.7%.
Unilever PLC (NYSE:UL) traded down 0.82% during mid-day trading on Friday, reaching $56.61. The company’s stock had a trading volume of 290,750 shares. Unilever PLC has a one year low of $38.58 and a one year high of $57.45. The company has a market capitalization of $159.22 billion, a price-to-earnings ratio of 24.31 and a beta of 0.88. The stock has a 50-day moving average price of $54.99 and a 200-day moving average price of $50.08.
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A number of equities analysts have weighed in on UL shares. UBS AG reiterated a “neutral” rating on shares of Unilever PLC in a research note on Monday, July 17th. Seaport Global Securities reduced their price objective on Unilever PLC from $28.00 to $26.00 in a research note on Monday, April 3rd. Zacks Investment Research lowered Unilever PLC from a “buy” rating to a “hold” rating in a research note on Thursday, June 22nd. Finally, ABN Amro lowered Unilever PLC from a “hold” rating to a “sell” rating in a research note on Friday, March 31st. Two analysts have rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $43.50.
About Unilever PLC
Unilever PLC is a fast-moving consumer goods (FMCG) company. The Company’s segments include Personal Care, which primarily includes sales of skin care and hair care products, deodorants and oral care products; Foods, which primarily includes sales of soups, bouillons, sauces, snacks, mayonnaise, salad dressings, margarines and spreads; Home Care, which primarily includes sales of home care products, such as powders, liquids and capsules, soap bars and a range of cleaning products, and Refreshment, which primarily includes sales of ice cream and tea-based beverages.
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