Domtar Corporation (UFS) Announces Quarterly Dividend of $0.42
Domtar Corporation (NYSE:UFS) (TSE:UFS) announced a quarterly dividend on Thursday, November 2nd, Wall Street Journal reports. Investors of record on Tuesday, January 2nd will be given a dividend of 0.415 per share by the basic materials company on Monday, January 15th. This represents a $1.66 annualized dividend and a dividend yield of 3.51%. The ex-dividend date is Friday, December 29th.
Domtar Corporation has raised its dividend by an average of 17.7% per year over the last three years and has raised its dividend annually for the last 7 consecutive years. Domtar Corporation has a dividend payout ratio of 70.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect Domtar Corporation to earn $2.76 per share next year, which means the company should continue to be able to cover its $1.66 annual dividend with an expected future payout ratio of 60.1%.
Domtar Corporation (NYSE:UFS) (TSE:UFS) last issued its quarterly earnings data on Friday, October 27th. The basic materials company reported $1.03 EPS for the quarter, beating the consensus estimate of $0.73 by $0.30. The company had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Domtar Corporation had a net margin of 3.44% and a return on equity of 6.17%. Domtar Corporation’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.13 earnings per share.
Several brokerages recently commented on UFS. KeyCorp set a $33.00 price objective on shares of Domtar Corporation and gave the company a “sell” rating in a research note on Friday, October 27th. DA Davidson boosted their price objective on shares of Domtar Corporation to $37.00 and gave the company an “underperform” rating in a research note on Monday. Scotiabank set a $41.00 price objective on shares of Domtar Corporation and gave the company a “sector perform” rating in a research note on Monday. National Bank Financial boosted their price objective on shares of Domtar Corporation from $42.00 to $46.00 and gave the company a “sector perform” rating in a research note on Monday. Finally, Zacks Investment Research raised shares of Domtar Corporation from a “hold” rating to a “strong-buy” rating and set a $51.00 price objective for the company in a research note on Thursday, October 5th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $43.30.
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In other Domtar Corporation news, insider Michael Fagan sold 4,154 shares of the business’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $41.40, for a total value of $171,975.60. Following the completion of the transaction, the insider now owns 10,649 shares of the company’s stock, valued at approximately $440,868.60. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Michael Dennis Garcia sold 4,712 shares of the business’s stock in a transaction that occurred on Tuesday, September 19th. The stock was sold at an average price of $42.73, for a total transaction of $201,343.76. Following the completion of the transaction, the insider now directly owns 4,712 shares of the company’s stock, valued at approximately $201,343.76. The disclosure for this sale can be found here. In the last three months, insiders sold 13,766 shares of company stock valued at $569,809. Corporate insiders own 1.04% of the company’s stock.
Domtar Corporation Company Profile
Domtar Corporation designs, manufactures, markets and distributes a range of fiber-based products, including communication papers, specialty and packaging papers and absorbent hygiene products. The Company segments include Pulp and Paper and Personal Care. The Pulp and Paper segment consists of the design, manufacturing, marketing and distribution of communication, specialty and packaging papers, as well as softwood, fluff and hardwood market pulp.
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