P H Glatfelter Co (NYSE:GLT) Raises Dividend to $0.14 Per Share
P H Glatfelter Co (NYSE:GLT) announced a quarterly dividend on Thursday, May 7th, Zacks reports. Stockholders of record on Friday, July 3rd will be paid a dividend of 0.135 per share by the basic materials company on Saturday, August 1st. This represents a $0.54 annualized dividend and a dividend yield of 3.67%. The ex-dividend date of this dividend is Wednesday, July 1st. This is a positive change from P H Glatfelter’s previous quarterly dividend of $0.13.
P H Glatfelter has decreased its dividend payment by an average of 25.7% per year over the last three years and has increased its dividend annually for the last 6 consecutive years. P H Glatfelter has a payout ratio of 70.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect P H Glatfelter to earn $0.91 per share next year, which means the company should continue to be able to cover its $0.54 annual dividend with an expected future payout ratio of 59.3%.
P H Glatfelter stock opened at $14.73 on Tuesday. The business’s 50-day simple moving average is $15.48 and its 200 day simple moving average is $15.30. The stock has a market cap of $652.71 million, a price-to-earnings ratio of -34.26 and a beta of 1.66. P H Glatfelter has a 12-month low of $9.44 and a 12-month high of $19.03. The company has a quick ratio of 1.28, a current ratio of 2.18 and a debt-to-equity ratio of 0.60.
Several research firms have weighed in on GLT. DA Davidson reissued a “buy” rating on shares of P H Glatfelter in a research note on Wednesday, May 6th. Zacks Investment Research lowered P H Glatfelter from a “hold” rating to a “sell” rating in a research note on Monday, June 8th. Finally, ValuEngine raised P H Glatfelter from a “sell” rating to a “hold” rating in a research report on Friday, March 13th.
P H Glatfelter Company Profile
P. H. Glatfelter Company, together with its subsidiaries, manufactures and sells engineered materials worldwide. The company's Composite Fibers business unit offers food and beverage filtration paper for single-serve coffee and tea products; wall covering base materials for wallpaper manufacturers; metallized products that are used in labels, packaging liners, gift wrap, and other consumer product applications; composite laminate papers for use in production of decorative laminates, furniture, and flooring applications; and special paper products, which are used in electrical energy storage, transport and transmission, wipes, and other engineered fiber-based applications.
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