Intertape Polymer Group (ITP) Declares Quarterly Dividend of $0.14
Intertape Polymer Group (TSE:ITP) announced a quarterly dividend on Friday, August 11th, Zacks reports. Stockholders of record on Friday, September 15th will be paid a dividend of 0.14 per share on Friday, September 29th. This represents a $0.56 annualized dividend and a dividend yield of 3.03%. The ex-dividend date of this dividend is Thursday, September 14th. This is a positive change from Intertape Polymer Group’s previous quarterly dividend of $0.12.
Shares of Intertape Polymer Group (ITP) traded down 0.48% during midday trading on Friday, hitting $18.49. 263,271 shares of the stock traded hands. Intertape Polymer Group has a one year low of $18.45 and a one year high of $25.74. The firm has a 50-day moving average price of $21.42 and a 200 day moving average price of $23.05. The stock has a market cap of $1.10 billion and a price-to-earnings ratio of 21.25.
In other news, Director Melbourne F. Yull sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, June 22nd. The shares were sold at an average price of C$24.54, for a total value of C$1,227,000.00. Also, Director Gregory Yull sold 105,000 shares of the company’s stock in a transaction that occurred on Friday, June 16th. The stock was sold at an average price of C$24.61, for a total transaction of C$2,584,050.00. Insiders have sold a total of 170,725 shares of company stock valued at $4,192,890 over the last three months.
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ITP has been the subject of a number of analyst reports. Royal Bank Of Canada boosted their target price on shares of Intertape Polymer Group from C$28.00 to C$29.00 and gave the company an “outperform” rating in a research note on Tuesday, June 13th. Scotiabank lowered shares of Intertape Polymer Group from a “focus stock” rating to an “outperform” rating and reduced their target price for the company from C$29.00 to C$26.00 in a research note on Monday, August 14th. Finally, TD Securities reduced their target price on shares of Intertape Polymer Group from C$28.00 to C$26.00 in a research note on Monday, August 14th.
Intertape Polymer Group Company Profile
Intertape Polymer Group Inc operates in the specialty packaging industry. The Company develops, manufactures and sells a range of paper and film-based pressure sensitive and water activated tapes, polyethylene and specialized polyolefin packaging films, woven coated fabrics and complementary packaging systems for industrial and retail use.
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