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

Sylvamo Co. (NYSE:SLVM) announced a quarterly dividend on Tuesday, December 17th,Wall Street Journal reports. Investors of record on Monday, January 6th will be given a dividend of 0.45 per share on Friday, January 24th. This represents a $1.80 annualized dividend and a yield of 2.28%. The ex-dividend date is Monday, January 6th.

Sylvamo has a payout ratio of 25.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect Sylvamo to earn $8.40 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 21.4%.

Sylvamo Stock Performance

SLVM traded down $0.45 during midday trading on Thursday, hitting $79.08. 416,057 shares of the company traded hands, compared to its average volume of 309,748. The company’s 50-day moving average is $87.93 and its 200 day moving average is $78.93. The company has a quick ratio of 1.13, a current ratio of 1.72 and a debt-to-equity ratio of 0.94. The firm has a market capitalization of $3.24 billion, a PE ratio of 12.30, a price-to-earnings-growth ratio of 2.92 and a beta of 1.08. Sylvamo has a 52 week low of $44.94 and a 52 week high of $98.02.

Sylvamo (NYSE:SLVM) last issued its quarterly earnings data on Tuesday, November 12th. The company reported $2.44 earnings per share for the quarter, beating analysts’ consensus estimates of $2.18 by $0.26. Sylvamo had a net margin of 7.13% and a return on equity of 30.60%. The company had revenue of $965.00 million for the quarter, compared to the consensus estimate of $960.47 million. During the same quarter in the prior year, the firm earned $1.70 earnings per share. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. On average, research analysts expect that Sylvamo will post 7.15 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on SLVM shares. Sidoti began coverage on Sylvamo in a report on Tuesday, October 15th. They set a “buy” rating and a $100.00 price target on the stock. Bank of America reiterated an “underperform” rating and set a $96.00 price objective on shares of Sylvamo in a research report on Wednesday, December 11th.

About Sylvamo

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.