International Paper Company (NYSE:IP) announced a quarterly dividend on Tuesday, October 10th, RTT News reports. Investors of record on Wednesday, November 15th will be given a dividend of 0.475 per share by the basic materials company on Friday, December 15th. This represents a $1.90 annualized dividend and a yield of 3.30%. This is an increase from International Paper’s previous quarterly dividend of $0.46.

International Paper has increased its dividend payment by an average of 12.6% per year over the last three years and has increased its dividend annually for the last 5 consecutive years. International Paper has a dividend payout ratio of 54.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect International Paper to earn $4.28 per share next year, which means the company should continue to be able to cover its $1.85 annual dividend with an expected future payout ratio of 43.2%.

International Paper (NYSE IP) traded up 1.07% during mid-day trading on Tuesday, reaching $57.64. The company’s stock had a trading volume of 1,157,453 shares. The stock has a market cap of $23.80 billion, a price-to-earnings ratio of 29.27 and a beta of 1.46. International Paper has a 12-month low of $43.55 and a 12-month high of $58.95. The firm’s 50 day moving average price is $55.74 and its 200 day moving average price is $54.42.

International Paper (NYSE:IP) last released its quarterly earnings data on Thursday, July 27th. The basic materials company reported $0.65 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.64 by $0.01. The company had revenue of $5.77 billion for the quarter, compared to analyst estimates of $5.72 billion. International Paper had a return on equity of 27.09% and a net margin of 3.73%. The firm’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.92 earnings per share. On average, equities analysts predict that International Paper will post $3.46 earnings per share for the current year.

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A number of equities research analysts have commented on IP shares. Zacks Investment Research upgraded International Paper from a “hold” rating to a “buy” rating and set a $64.00 target price on the stock in a research report on Tuesday, July 11th. Vertical Research restated a “buy” rating on shares of International Paper in a research report on Friday, July 28th. KeyCorp restated a “hold” rating on shares of International Paper in a research report on Thursday, July 27th. Jefferies Group LLC restated a “buy” rating and issued a $66.00 target price on shares of International Paper in a research report on Friday, August 18th. Finally, Goldman Sachs Group, Inc. (The) upgraded International Paper from a “neutral” rating to a “buy” rating and lifted their target price for the company from $60.00 to $64.00 in a research report on Thursday, July 13th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. International Paper currently has an average rating of “Hold” and a consensus target price of $60.27.

In related news, insider Gregory T. Wanta sold 1,044 shares of the business’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $55.22, for a total value of $57,649.68. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.63% of the stock is currently owned by insiders.

International Paper Company Profile

International Paper Company is a paper and packaging company with primary markets and manufacturing operations in North America, Europe, Latin America, Russia, Asia, Africa and the Middle East. The Company’s segments include Industrial Packaging, Global Cellulose Fibers, Printing Papers and Consumer Packaging.

Dividend History for International Paper (NYSE:IP)

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