Silgan Holdings Inc. (NYSE:SLGN) Announces Quarterly Dividend of $0.19

Silgan Holdings Inc. (NYSE:SLGN) declared a quarterly dividend on Tuesday, November 5th,NASDAQ Dividends reports. Shareholders of record on Monday, December 2nd will be given a dividend of 0.19 per share by the industrial products company on Monday, December 16th. This represents a $0.76 annualized dividend and a yield of 1.32%. The ex-dividend date is Monday, December 2nd.

Silgan has increased its dividend payment by an average of 14.5% per year over the last three years and has raised its dividend annually for the last 21 consecutive years. Silgan has a dividend payout ratio of 18.5% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Silgan to earn $4.10 per share next year, which means the company should continue to be able to cover its $0.76 annual dividend with an expected future payout ratio of 18.5%.

Silgan Stock Performance

SLGN opened at $57.53 on Friday. The company has a current ratio of 1.09, a quick ratio of 0.75 and a debt-to-equity ratio of 1.24. The business’s 50 day moving average is $52.75 and its 200-day moving average is $49.18. The stock has a market cap of $6.14 billion, a PE ratio of 20.84, a price-to-earnings-growth ratio of 1.50 and a beta of 0.67. Silgan has a twelve month low of $41.07 and a twelve month high of $58.14.

Silgan (NYSE:SLGN) last announced its quarterly earnings results on Wednesday, October 30th. The industrial products company reported $1.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.02). The business had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.82 billion. Silgan had a return on equity of 18.76% and a net margin of 5.11%. The company’s revenue was down 3.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.16 EPS. On average, analysts predict that Silgan will post 3.6 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. StockNews.com lowered shares of Silgan from a “buy” rating to a “hold” rating in a research report on Wednesday, October 9th. Royal Bank of Canada increased their price objective on shares of Silgan from $55.00 to $58.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $57.43.

About Silgan

Silgan Holdings Inc, together with its subsidiaries, manufactures and sells rigid packaging solutions for consumer goods products in the United States and internationally. It operates through three segments: Dispensing and Specialty Closures, Metal Containers, and Custom Containers. The Dispensing and Specialty Closures segment offers a range of metal and plastic closures, and dispensing systems for food, beverage, health care, garden, home, personal care, beauty products, and hard surface cleaning products, as well as capping/sealing equipment and detection systems.