Neenah Paper, Inc. (NP) Announces $0.37 Quarterly Dividend
Neenah Paper, Inc. (NYSE:NP) announced a quarterly dividend on Thursday, November 2nd, Wall Street Journal reports. Investors of record on Friday, November 17th will be given a dividend of 0.37 per share by the basic materials company on Monday, December 4th. This represents a $1.48 annualized dividend and a dividend yield of 1.71%. The ex-dividend date of this dividend is Thursday, November 16th.
Neenah Paper has raised its dividend by an average of 23.5% per year over the last three years and has increased its dividend annually for the last 6 consecutive years. Neenah Paper has a payout ratio of 35.6% indicating that its dividend is sufficiently covered by earnings. Research 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 posted its quarterly earnings results on Wednesday, August 2nd. The basic materials company reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.14. The company had revenue of $248.70 million for the quarter, compared to analyst estimates of $250.88 million. Neenah Paper had a return on equity of 21.03% and a net margin of 7.99%. Neenah Paper’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.26 EPS.
In other Neenah Paper news, SVP Matthew L. Duncan sold 311 shares of Neenah Paper stock in a transaction that occurred on Wednesday, September 20th. The stock was sold at an average price of $82.00, for a total transaction of $25,502.00. Following the transaction, the senior vice president now owns 1,963 shares of the company’s stock, valued at $160,966. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Julie Schertell sold 2,000 shares of Neenah Paper stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $76.71, for a total value of $153,420.00. Following the transaction, the senior vice president now directly owns 3,789 shares in the company, valued at approximately $290,654.19. The disclosure for this sale can be found here. Insiders have sold a total of 6,162 shares of company stock worth $499,615 in the last three months. Corporate insiders own 2.00% of the company’s stock.
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Several brokerages have recently weighed in on NP. BidaskClub raised Neenah Paper from a “strong sell” rating to a “sell” rating in a research report on Tuesday, August 15th. Zacks Investment Research lowered Neenah Paper from a “hold” rating to a “sell” rating in a research report on Wednesday, August 9th.
Neenah Paper Company Profile
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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