Greif, Inc. Declares Quarterly Dividend of $0.44 (NYSE:GEF)
Greif, Inc. (NYSE:GEF) announced a quarterly dividend on Tuesday, June 4th, NASDAQ reports. Shareholders of record on Tuesday, June 18th will be paid a dividend of 0.44 per share by the industrial products company on Monday, July 1st. This represents a $1.76 annualized dividend and a yield of 4.95%. The ex-dividend date of this dividend is Monday, June 17th.
Greif has increased its dividend by an average of 0.4% annually over the last three years. Greif has a dividend payout ratio of 48.9% meaning its dividend is sufficiently covered by earnings. Analysts expect Greif to earn $4.10 per share next year, which means the company should continue to be able to cover its $1.76 annual dividend with an expected future payout ratio of 42.9%.
GEF traded up $0.90 during trading on Wednesday, hitting $35.59. The stock had a trading volume of 10,409 shares, compared to its average volume of 230,070. The company has a market cap of $1.69 billion, a price-to-earnings ratio of 10.06, a price-to-earnings-growth ratio of 1.04 and a beta of 1.50. Greif has a twelve month low of $31.80 and a twelve month high of $59.48. The company has a quick ratio of 1.15, a current ratio of 1.67 and a debt-to-equity ratio of 2.50.
Several equities research analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Greif from a “sell” rating to a “hold” rating in a research note on Thursday, May 23rd. Wells Fargo & Co set a $40.00 target price on shares of Greif and gave the company a “hold” rating in a research note on Friday, June 7th. KeyCorp restated a “sell” rating and issued a $31.00 target price on shares of Greif in a research note on Thursday, February 28th. Finally, Bank of America set a $38.00 price target on shares of Greif and gave the stock a “sell” rating in a report on Thursday, March 7th. Four investment analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. Greif presently has a consensus rating of “Sell” and an average target price of $36.88.
ILLEGAL ACTIVITY NOTICE: This piece was published by Watch List News and is owned by of Watch List News. If you are viewing this piece on another site, it was stolen and republished in violation of US & international copyright and trademark law. The original version of this piece can be read at https://www.watchlistnews.com/greif-inc-declares-quarterly-dividend-of-0-44-nysegef/3039517.html.
Greif Company Profile
Greif, Inc produces and sells industrial packaging products and services worldwide. It operates through four segments: Rigid Industrial Packaging & Services; Paper Packaging & Services; Flexible Products & Services; and Land Management. The Rigid Industrial Packaging & Services segment offers rigid industrial packaging products, including steel, fiber, and plastic drums; rigid intermediate bulk containers; closure systems for industrial packaging products; transit protection products; water bottles, and remanufactured and reconditioned industrial containers; and services, such as container life cycle management, filling, logistics, warehousing, and other packaging services.
Further Reading: Inflation
Receive News & Ratings for Greif Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Greif and related companies with MarketBeat.com's FREE daily email newsletter.