Greif, Inc. (NYSE:GEF) Announces Dividend Increase – $0.54 Per Share

Greif, Inc. (NYSE:GEF) declared a quarterly dividend on Tuesday, August 27th, Zacks reports. Stockholders of record on Monday, September 16th will be given a dividend of 0.54 per share by the industrial products company on Tuesday, October 1st. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.53%. The ex-dividend date of this dividend is Monday, September 16th. This is a boost from Greif’s previous quarterly dividend of $0.52.

Greif has increased its dividend by an average of 5.0% per year over the last three years. Greif has a dividend payout ratio of 44.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Greif to earn $4.85 per share next year, which means the company should continue to be able to cover its $2.16 annual dividend with an expected future payout ratio of 44.5%.

Greif Stock Performance

Greif stock opened at $61.12 on Friday. Greif has a 12-month low of $55.95 and a 12-month high of $71.36. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.70 and a quick ratio of 1.28. The company has a market capitalization of $2.88 billion, a price-to-earnings ratio of 13.14 and a beta of 0.91. The firm’s fifty day moving average price is $61.51 and its 200 day moving average price is $62.61.

Analyst Ratings Changes

Several research firms recently commented on GEF. StockNews.com cut Greif from a “buy” rating to a “hold” rating in a research note on Wednesday, July 10th. Raymond James initiated coverage on Greif in a research report on Friday, July 19th. They issued a “market perform” rating on the stock. Wells Fargo & Company decreased their price target on shares of Greif from $80.00 to $76.00 and set an “overweight” rating for the company in a research report on Monday, August 26th. Truist Financial reaffirmed a “hold” rating and issued a $67.00 price target (down from $69.00) on shares of Greif in a report on Friday, August 30th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $88.00 price objective on shares of Greif in a report on Monday, August 26th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Greif has an average rating of “Moderate Buy” and a consensus target price of $76.00.

About Greif

Greif, Inc engages in the production and sale of industrial packaging products and services worldwide. The company operates through Global Industrial Packaging; Paper Packaging & Services; and Land Management segments. The Global Industrial Packaging segment produces and sells industrial packaging products, including steel, fiber, and plastic drums; rigid and flexible intermediate bulk containers; closure systems for industrial packaging products; transit protection products; water bottles, and remanufactured and reconditioned industrial containers; and various services, such as container life cycle management, filling, logistics, warehousing, and other packaging services to chemicals, paints and pigments, food and beverage, petroleum, industrial coatings, agriculture, pharmaceuticals, mineral product, and other industries.