Neenah Paper, Inc. (NP) to Issue Quarterly Dividend of $0.37
Neenah Paper, Inc. (NYSE:NP) declared a quarterly dividend on Wednesday, November 1st, RTT News reports. Shareholders of record on Friday, November 17th will be paid a dividend of 0.37 per share by the basic materials company on Monday, December 11th. This represents a $1.48 dividend on an annualized basis and a yield of 1.71%.
Neenah Paper has increased its dividend payment by an average of 23.5% per year over the last three years and has increased its dividend every year for the last 6 years. Neenah Paper has a payout ratio of 35.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect Neenah Paper to earn $4.72 per share next year, which means the company should continue to be able to cover its $1.48 annual dividend with an expected future payout ratio of 31.4%.
Neenah Paper (NYSE:NP) last issued its quarterly earnings data on Wednesday, August 2nd. The basic materials company reported $1.22 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.08 by $0.14. The business had revenue of $248.70 million for the quarter, compared to analysts’ expectations of $250.88 million. Neenah Paper had a return on equity of 21.03% and a net margin of 7.99%. The company’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.26 EPS.
In related news, SVP Steven S. Heinrichs sold 2,744 shares of the stock in a transaction on Wednesday, September 27th. The stock was sold at an average price of $85.00, for a total transaction of $233,240.00. Following the sale, the senior vice president now owns 18,293 shares in the company, valued at approximately $1,554,905. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Bonnie Cruickshank Lind sold 1,500 shares of the stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $82.00, for a total value of $123,000.00. Following the sale, the chief financial officer now owns 25,574 shares in the company, valued at approximately $2,097,068. The disclosure for this sale can be found here. Insiders have sold a total of 8,109 shares of company stock worth $659,940 in the last 90 days. 2.00% of the stock is currently owned by insiders.
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Several analysts have recently issued reports on NP shares. Zacks Investment Research cut Neenah Paper from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. BidaskClub upgraded Neenah Paper from a “strong sell” rating to a “sell” rating in a report on Monday, July 31st.
About Neenah Paper
Neenah Paper, Inc is a producer of technical products and premium fine papers and packaging. The Company has two primary businesses: technical products business, and fine paper and packaging business. Its segments consist of Technical Products, Fine Paper and Packaging, and Other. The technical products business is an international producer of transportation, water and other filter media and durable, saturated and coated substrates.
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