Turning Point Brands, Inc. (NYSE:TPB) to Issue Quarterly Dividend of $0.08

Turning Point Brands, Inc. (NYSE:TPB) declared a quarterly dividend on Wednesday, February 25th. Shareholders of record on Friday, March 20th will be given a dividend of 0.08 per share on Friday, April 10th. This represents a c) dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend is Friday, March 20th. This is a 6.7% increase from Turning Point Brands’s previous quarterly dividend of $0.08.

Turning Point Brands has raised its dividend by an average of 0.1%per year over the last three years and has increased its dividend every year for the last 7 years. Turning Point Brands has a payout ratio of 8.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Turning Point Brands to earn $3.09 per share next year, which means the company should continue to be able to cover its $0.30 annual dividend with an expected future payout ratio of 9.7%.

Turning Point Brands Stock Performance

Shares of NYSE:TPB traded up $2.05 on Thursday, hitting $145.03. The company had a trading volume of 75,365 shares, compared to its average volume of 282,689. The stock has a market cap of $2.77 billion, a price-to-earnings ratio of 50.87 and a beta of 0.87. The stock has a 50 day moving average price of $119.02 and a 200 day moving average price of $105.04. Turning Point Brands has a 1-year low of $51.48 and a 1-year high of $146.90. The company has a current ratio of 5.56, a quick ratio of 3.98 and a debt-to-equity ratio of 0.82.

About Turning Point Brands

Turning Point Brands, Inc (NYSE: TPB) is a U.S.-based consumer products company focused on the manufacture, marketing and distribution of smokeless tobacco, vaping and cigar products. Headquartered in Old Hickory, Tennessee, the company serves retail outlets across all 50 states through a direct-store-delivery network and select third-party distributors. Turning Point Brands operates two reporting segments—Smokeless Products and Cigar—and leverages its logistics capabilities to offer a broad portfolio of brands and SKUs.

In its Smokeless Products segment, Turning Point Brands produces moist smokeless tobacco under leading brand names such as Grizzly, Kodiak and Stoker’s.