Associated British Foods (LON:ABF) Reaches New 1-Year High After Dividend Announcement

Shares of Associated British Foods plc (LON:ABF) hit a new 52-week high during mid-day trading on Tuesday following a dividend announcement from the company. The company traded as high as GBX 2,741 ($33.86) and last traded at GBX 2,738.70 ($33.83), with a volume of 13246012 shares changing hands. The stock had previously closed at GBX 2,506 ($30.95).

The newly announced dividend which will be paid on Friday, July 5th. Shareholders of record on Thursday, May 30th will be issued a GBX 20.70 ($0.26) dividend. The ex-dividend date of this dividend is Thursday, May 30th. This represents a yield of 0.83%. Associated British Foods’s dividend payout ratio is currently 3,507.46%.

Analysts Set New Price Targets

Separately, Shore Capital reaffirmed a “buy” rating on shares of Associated British Foods in a research report on Thursday, April 18th.

Associated British Foods Price Performance

The firm has a market capitalization of £20.56 billion, a price-to-earnings ratio of 1,870.15, a P/E/G ratio of 1.37 and a beta of 1.24. The company’s 50 day moving average is GBX 2,357.86 and its 200 day moving average is GBX 2,294. The company has a quick ratio of 0.93, a current ratio of 1.83 and a debt-to-equity ratio of 33.25.

Associated British Foods Company Profile

Associated British Foods plc operates as a diversified food, ingredients, and retail company worldwide. It operates through five segments: Grocery, Ingredients, Agriculture, Sugar, and Retail. The Grocery segment manufactures and sells grocery products, including hot beverages, sugar and sweeteners, vegetable oils, balsamic vinegars, bread and baked goods, cereals, ethnic foods, and meat products to retail, wholesale, and foodservice businesses.