International Paper (NYSE:IP) Announces Quarterly Dividend of $0.46

International Paper (NYSE:IPGet Free Report) announced a quarterly dividend on Tuesday, July 9th, RTT News reports. Investors of record on Thursday, August 15th will be given a dividend of 0.4625 per share by the basic materials company on Monday, September 16th. This represents a $1.85 annualized dividend and a dividend yield of 4.35%.

International Paper has decreased its dividend by an average of 3.4% per year over the last three years. International Paper has a dividend payout ratio of 65.1% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect International Paper to earn $2.77 per share next year, which means the company should continue to be able to cover its $1.85 annual dividend with an expected future payout ratio of 66.8%.

International Paper Stock Performance

IP traded down $0.62 on Tuesday, hitting $42.55. 4,306,565 shares of the stock traded hands, compared to its average volume of 5,789,391. The business has a fifty day moving average price of $42.83 and a two-hundred day moving average price of $38.67. The firm has a market capitalization of $14.78 billion, a PE ratio of 87.12 and a beta of 1.06. International Paper has a 52 week low of $30.78 and a 52 week high of $47.40. The company has a current ratio of 1.68, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66.

International Paper (NYSE:IPGet Free Report) last announced its quarterly earnings data on Thursday, April 25th. The basic materials company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.06). International Paper had a return on equity of 7.45% and a net margin of 0.93%. The firm had revenue of $4.62 billion during the quarter, compared to analyst estimates of $4.56 billion. During the same quarter in the previous year, the business earned $0.53 earnings per share. International Paper’s revenue for the quarter was down 8.0% compared to the same quarter last year. On average, research analysts predict that International Paper will post 1.9 EPS for the current fiscal year.

Wall Street Analyst Weigh In

IP has been the topic of several recent research reports. Truist Financial restated a “buy” rating and issued a $52.00 price target on shares of International Paper in a research report on Thursday, June 27th. Seaport Res Ptn upgraded shares of International Paper from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 28th. Citigroup raised shares of International Paper from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $36.00 to $46.00 in a research note on Wednesday, March 20th. Stifel Nicolaus began coverage on shares of International Paper in a research note on Tuesday. They issued a “hold” rating and a $48.70 target price for the company. Finally, Wells Fargo & Company lifted their price target on shares of International Paper from $37.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 30th. Five equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $45.21.

Check Out Our Latest Analysis on International Paper

Insiders Place Their Bets

In related news, Director Kathryn D. Sullivan sold 600 shares of the stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $45.11, for a total transaction of $27,066.00. Following the completion of the transaction, the director now directly owns 43,402 shares in the company, valued at $1,957,864.22. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In the last 90 days, insiders sold 3,600 shares of company stock worth $147,054. Corporate insiders own 0.55% of the company’s stock.

About International Paper

(Get Free Report)

International Paper Company produces and sells renewable fiber-based packaging and pulp products in North America, Latin America, Europe, and North Africa. It operates through two segments, Industrial Packaging and Global Cellulose Fibers. The company offers linerboard, medium, whitetop, recycled linerboard, recycled medium and saturating kraft; and pulp for a range of applications, such as diapers, towel and tissue products, feminine care, incontinence, and other personal care products, as well as specialty pulps for use in textiles, construction materials, paints, coatings, and others.

See Also

Dividend History for International Paper (NYSE:IP)

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