Schweitzer-Mauduit International, Inc. (SWM) Raises Dividend to $0.43 Per Share
Schweitzer-Mauduit International, Inc. (NYSE:SWM) announced a quarterly dividend on Thursday, November 2nd, Wall Street Journal reports. Stockholders of record on Friday, December 1st will be paid a dividend of 0.43 per share on Friday, December 22nd. This represents a $1.72 annualized dividend and a dividend yield of 4.07%. The ex-dividend date is Thursday, November 30th. This is a boost from Schweitzer-Mauduit International’s previous quarterly dividend of $0.42.
Schweitzer-Mauduit International has raised its dividend payment by an average of 8.7% per year over the last three years and has increased its dividend every year for the last 5 years. Schweitzer-Mauduit International has a dividend payout ratio of 53.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Schweitzer-Mauduit International to earn $3.35 per share next year, which means the company should continue to be able to cover its $1.68 annual dividend with an expected future payout ratio of 50.1%.
Schweitzer-Mauduit International (NYSE:SWM) last announced its quarterly earnings results on Wednesday, November 1st. The company reported $1.00 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.18. The company had revenue of $257.80 million for the quarter, compared to analysts’ expectations of $238.00 million. Schweitzer-Mauduit International had a net margin of 8.00% and a return on equity of 18.00%. Schweitzer-Mauduit International’s revenue was up 23.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.74 EPS.
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In other news, Director Jeffrey Keenan purchased 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 8th. The shares were bought at an average price of $38.64 per share, for a total transaction of $386,400.00. Following the purchase, the director now directly owns 25,000 shares in the company, valued at approximately $966,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.84% of the company’s stock.
Separately, DA Davidson started coverage on shares of Schweitzer-Mauduit International in a research note on Tuesday, September 26th. They issued a “buy” rating and a $47.00 price target on the stock.
About Schweitzer-Mauduit International
Schweitzer-Mauduit International, Inc (SWM) is a diversified producer of engineered solutions and materials for a variety of industries. The Company has two operating product line segments: Engineered Papers, and Advanced Materials and Structures. As of December 31, 2016, the Company conducted business in over 90 countries and operate 18 production locations across the world, with facilities in the United States, Canada, the United Kingdom, France, Luxembourg, Russia, Brazil, China and Poland.
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