Amcor plc Declares Quarterly Dividend of $0.13 (NYSE:AMCR)

Amcor plc (NYSE:AMCRGet Free Report) declared a quarterly dividend on Tuesday, April 30th, Wall Street Journal reports. Shareholders of record on Wednesday, May 22nd will be paid a dividend of 0.125 per share on Tuesday, June 11th. This represents a $0.50 annualized dividend and a yield of 4.87%. The ex-dividend date is Tuesday, May 21st.

Amcor has raised its dividend payment by an average of 2.1% annually over the last three years and has increased its dividend annually for the last 4 consecutive years. Amcor has a dividend payout ratio of 67.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Amcor to earn $0.74 per share next year, which means the company should continue to be able to cover its $0.50 annual dividend with an expected future payout ratio of 67.6%.

Amcor Stock Down 0.9 %

Shares of NYSE:AMCR opened at $10.27 on Friday. The firm has a 50 day simple moving average of $9.46 and a 200-day simple moving average of $9.41. Amcor has a twelve month low of $8.45 and a twelve month high of $10.51. The company has a current ratio of 1.29, a quick ratio of 0.75 and a debt-to-equity ratio of 1.76. The company has a market capitalization of $14.84 billion, a PE ratio of 22.82, a P/E/G ratio of 5.61 and a beta of 0.79.

Amcor (NYSE:AMCRGet Free Report) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.01. The firm had revenue of $3.41 billion during the quarter, compared to analysts’ expectations of $3.49 billion. Amcor had a net margin of 4.75% and a return on equity of 24.66%. Amcor’s quarterly revenue was down 7.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.18 earnings per share. On average, equities analysts predict that Amcor will post 0.7 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. upped their target price on Amcor from $9.90 to $10.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st.

Read Our Latest Report on Amcor

About Amcor

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Amcor plc develops, produces, and sells packaging products in Europe, North America, Latin America, Africa, and the Asia Pacific regions. The company operates through two segments, Flexibles and Rigid Packaging. The Flexibles segment provides flexible and film packaging products in the food and beverage, medical and pharmaceutical, fresh produce, snack food, personal care, and other industries.

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Dividend History for Amcor (NYSE:AMCR)

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