Sylvamo Co. (NYSE:SLVM) to Issue $0.45 Quarterly Dividend

Sylvamo Co. (NYSE:SLVM) declared a quarterly dividend on Friday, September 13th, Wall Street Journal reports. Shareholders of record on Thursday, October 3rd will be paid a dividend of 0.45 per share on Thursday, October 17th. This represents a $1.80 annualized dividend and a yield of 2.17%. The ex-dividend date is Thursday, October 3rd.

Sylvamo has a payout ratio of 22.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Sylvamo to earn $8.30 per share next year, which means the company should continue to be able to cover its $1.80 annual dividend with an expected future payout ratio of 21.7%.

Sylvamo Stock Down 3.3 %

Shares of NYSE SLVM opened at $83.00 on Wednesday. Sylvamo has a 12-month low of $40.79 and a 12-month high of $88.42. The stock has a market cap of $3.40 billion, a P/E ratio of 17.70, a PEG ratio of 5.00 and a beta of 1.07. The company has a current ratio of 1.68, a quick ratio of 1.05 and a debt-to-equity ratio of 1.08. The business’s fifty day simple moving average is $76.71 and its 200-day simple moving average is $69.80.

Sylvamo (NYSE:SLVM) last announced its quarterly earnings data on Friday, August 9th. The company reported $1.98 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $0.40. The business had revenue of $933.00 million during the quarter, compared to the consensus estimate of $937.56 million. Sylvamo had a return on equity of 28.83% and a net margin of 6.30%. The business’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.14 earnings per share. As a group, equities analysts predict that Sylvamo will post 7.4 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on SLVM. Royal Bank of Canada lifted their price objective on shares of Sylvamo from $63.00 to $71.00 and gave the stock a “sector perform” rating in a research report on Monday, August 12th. Bank of America raised their target price on Sylvamo from $82.00 to $88.00 and gave the stock a “neutral” rating in a research report on Monday, September 23rd.

Sylvamo Company Profile

Sylvamo Corporation produces and markets uncoated freesheet for cutsize, offset paper, and pulp in Latin America, Europe, and North America. The company operates through Europe, Latin America, and North America segments. The Europe segment offers copy, tinted, and colored laser printing paper under REY Adagio and Pro-Design brands; and graphic and high-speed inkjet printing papers under the brand Jetstar; as well as produces uncoated freesheet papers.