Greif Bros. Corporation (GEF) Announces $0.42 Quarterly Dividend

Greif Bros. Corporation (NYSE:GEF) announced a quarterly dividend on Wednesday, December 6th, Wall Street Journal reports. Stockholders of record on Monday, December 18th will be paid a dividend of 0.42 per share by the industrial products company on Monday, January 1st. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date of this dividend is Friday, December 15th.

Greif Bros. has raised its dividend by an average of 10.1% per year over the last three years. Greif Bros. has a payout ratio of 58.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Greif Bros. to earn $3.43 per share next year, which means the company should continue to be able to cover its $1.68 annual dividend with an expected future payout ratio of 49.0%.

Shares of Greif Bros. (GEF) traded up $0.05 during trading on Thursday, hitting $54.83. 246,000 shares of the stock were exchanged, compared to its average volume of 211,135. Greif Bros. has a 12 month low of $50.70 and a 12 month high of $63.04. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.10 and a current ratio of 1.56. The company has a market cap of $2,620.78, a P/E ratio of 20.91, a PEG ratio of 1.84 and a beta of 1.29.

Greif Bros. (NYSE:GEF) last issued its quarterly earnings results on Wednesday, December 6th. The industrial products company reported $0.98 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.91 by $0.07. Greif Bros. had a net margin of 2.65% and a return on equity of 15.49%. The company had revenue of $968.00 million during the quarter, compared to the consensus estimate of $931.96 million. During the same quarter in the prior year, the firm posted $0.65 EPS. The firm’s quarterly revenue was up 11.6% on a year-over-year basis. equities analysts predict that Greif Bros. will post 2.84 earnings per share for the current year.

Several equities analysts recently commented on GEF shares. BMO Capital Markets reissued a “hold” rating and issued a $55.00 price objective on shares of Greif Bros. in a research note on Thursday, August 17th. Bank of America downgraded shares of Greif Bros. from a “buy” rating to a “neutral” rating and increased their price objective for the company from $60.45 to $63.00 in a research note on Friday, September 1st. Robert W. Baird reissued a “buy” rating and issued a $66.00 price objective on shares of Greif Bros. in a research note on Friday, September 1st. Zacks Investment Research downgraded shares of Greif Bros. from a “hold” rating to a “sell” rating in a research note on Thursday, November 30th. Finally, KeyCorp reissued a “sell” rating on shares of Greif Bros. in a research note on Friday, November 10th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $57.00.

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About Greif Bros.

Greif, Inc is a producer of industrial packaging products and services. The Company’s segments are Rigid Industrial Packaging & Services; Paper Packaging & Services; Flexible Products & Services, and Land Management. The Rigid Industrial Packaging & Services segment is engaged in the production and sale of rigid industrial packaging products, and services, such as container life cycle management, filling, logistics, warehousing and other packaging services.

Dividend History for Greif Bros. (NYSE:GEF)

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