Bemis Company, Inc. (NYSE:BMS) declared a quarterly dividend on Thursday, November 2nd, RTT News reports. Shareholders of record on Wednesday, November 15th will be paid a dividend of 0.30 per share by the industrial products company on Friday, December 1st. This represents a $1.20 dividend on an annualized basis and a yield of 2.67%.

Bemis has raised its dividend payment by an average of 3.7% per year over the last three years and has raised its dividend annually for the last 33 consecutive years. Bemis has a dividend payout ratio of 50.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Bemis to earn $2.67 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 44.9%.

Bemis (NYSE:BMS) last issued its quarterly earnings data on Thursday, October 26th. The industrial products company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.05. Bemis had a net margin of 4.84% and a return on equity of 17.83%. The company had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.02 billion. During the same quarter in the previous year, the firm posted $0.75 earnings per share. Bemis’s revenue for the quarter was up .8% on a year-over-year basis.

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BMS has been the topic of several recent analyst reports. Bank of America Corporation upgraded shares of Bemis from an “underperform” rating to a “neutral” rating and boosted their target price for the company from $46.00 to $51.00 in a report on Friday, September 15th. Barclays PLC boosted their target price on shares of Bemis from $50.00 to $52.00 and gave the company an “overweight” rating in a report on Monday. Zacks Investment Research upgraded shares of Bemis from a “sell” rating to a “hold” rating in a report on Monday, October 16th. KeyCorp restated a “hold” rating on shares of Bemis in a report on Friday, October 13th. Finally, Citigroup Inc. restated a “hold” rating on shares of Bemis in a report on Thursday, August 31st. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $48.60.

About Bemis

Bemis Company, Inc is a manufacturer of packaging products. The Company operates through two segments: U.S. Packaging and Global Packaging. The U.S. Packaging segment represents all food, consumer, and industrial products packaging-related manufacturing operations located in the United States. The Global Packaging segment includes all packaging-related manufacturing operations located outside of the United States, as well as global medical device and pharmaceutical packaging-related manufacturing operations.

Dividend History for Bemis (NYSE:BMS)

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