Packaging Corp Of America (NYSE:PKG) announced a quarterly dividend on Thursday, December 14th, RTT News reports. Shareholders of record on Tuesday, December 26th will be given a dividend of 0.63 per share by the industrial products company on Friday, January 12th. This represents a $2.52 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date of this dividend is Friday, December 22nd.

Packaging Corp Of America has raised its dividend by an average of 27.0% per year over the last three years and has raised its dividend every year for the last 6 years. Packaging Corp Of America has a dividend payout ratio of 42.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Packaging Corp Of America to earn $6.67 per share next year, which means the company should continue to be able to cover its $2.52 annual dividend with an expected future payout ratio of 37.8%.

Shares of Packaging Corp Of America (NYSE PKG) opened at $119.74 on Thursday. Packaging Corp Of America has a 12-month low of $84.01 and a 12-month high of $120.75. The company has a debt-to-equity ratio of 1.30, a current ratio of 2.45 and a quick ratio of 1.49. The stock has a market cap of $11,212.61, a P/E ratio of 20.85, a price-to-earnings-growth ratio of 2.38 and a beta of 1.81.

Packaging Corp Of America (NYSE:PKG) last announced its quarterly earnings results on Wednesday, October 25th. The industrial products company reported $1.68 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.69 by ($0.01). Packaging Corp Of America had a return on equity of 29.38% and a net margin of 8.18%. The business had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.64 billion. During the same quarter last year, the company earned $1.30 EPS. The business’s revenue for the quarter was up 10.5% compared to the same quarter last year. equities analysts expect that Packaging Corp Of America will post 5.99 earnings per share for the current year.

PKG has been the topic of several analyst reports. Vertical Research restated a “buy” rating and set a $124.00 price target (up previously from $118.00) on shares of Packaging Corp Of America in a research note on Wednesday, August 23rd. Deutsche Bank restated a “hold” rating and set a $120.00 price target (up previously from $94.00) on shares of Packaging Corp Of America in a research note on Monday, October 9th. Zacks Investment Research upgraded shares of Packaging Corp Of America from a “hold” rating to a “buy” rating and set a $132.00 price target on the stock in a research note on Thursday, October 12th. KeyCorp restated a “hold” rating on shares of Packaging Corp Of America in a research note on Thursday, October 12th. Finally, Stephens initiated coverage on shares of Packaging Corp Of America in a research note on Tuesday, October 24th. They set an “overweight” rating and a $130.00 price target on the stock. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $117.36.

In related news, SVP Thomas W.H. Walton sold 6,027 shares of the firm’s stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $116.15, for a total value of $700,036.05. Following the transaction, the senior vice president now directly owns 32,690 shares in the company, valued at approximately $3,796,943.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Charles J. Carter sold 6,150 shares of the firm’s stock in a transaction on Friday, October 27th. The shares were sold at an average price of $117.04, for a total transaction of $719,796.00. Following the completion of the transaction, the senior vice president now owns 24,265 shares in the company, valued at $2,839,975.60. The disclosure for this sale can be found here. Insiders sold a total of 67,177 shares of company stock worth $1,427,532 over the last quarter. 1.20% of the stock is currently owned by company insiders.

TRADEMARK VIOLATION WARNING: “Packaging Corp Of America (PKG) To Go Ex-Dividend on December 22nd” was first posted by Watch List News and is owned by of Watch List News. If you are accessing this piece on another website, it was illegally stolen and reposted in violation of US and international copyright & trademark laws. The legal version of this piece can be accessed at https://www.watchlistnews.com/packaging-corp-of-america-pkg-to-go-ex-dividend-on-december-22nd/1775978.html.

Packaging Corp Of America Company Profile

Packaging Corporation of America (PCA) is a producer of containerboard products and uncoated freesheet. The Company operates through three segments: Packaging, Paper, and Corporate and Other. The Packaging segment produces a range of corrugated packaging products. The Paper segment manufactures and sells a range of papers, including communication-based papers and pressure sensitive papers.

Dividend History for Packaging Corp Of America (NYSE:PKG)

Receive News & Ratings for Packaging Corp Of America Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Packaging Corp Of America and related companies with MarketBeat.com's FREE daily email newsletter.