Associated British Foods plc (LON:ABF – Get Free Report) reached a new 52-week high on Tuesday following a dividend announcement from the company. The stock 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. Stockholders of record on Thursday, May 30th will be paid a dividend of GBX 20.70 ($0.26) per share. This represents a dividend yield of 0.83%. The ex-dividend date of this dividend is Thursday, May 30th. Associated British Foods’s payout ratio is currently 3,507.46%.
Analyst Upgrades and Downgrades
Separately, Shore Capital restated a “buy” rating on shares of Associated British Foods in a research note on Thursday, April 18th.
Associated British Foods Stock Up 8.9 %
The company has a debt-to-equity ratio of 33.25, a current ratio of 1.83 and a quick ratio of 0.93. The business’s 50 day moving average price is GBX 2,357.86 and its 200 day moving average price is GBX 2,294. The firm has a market cap of £20.56 billion, a PE ratio of 1,870.15, a PEG ratio of 1.37 and a beta of 1.24.
About Associated British Foods
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.
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