Karat Packaging Inc. (NASDAQ:KRT) Increases Dividend to $0.45 Per Share

Karat Packaging Inc. (NASDAQ:KRT) announced a quarterly dividend on Thursday, February 13th, RTT News reports. Investors of record on Monday, February 24th will be given a dividend of 0.45 per share on Friday, February 28th. This represents a $1.80 annualized dividend and a yield of 5.81%. The ex-dividend date is Monday, February 24th. This is an increase from Karat Packaging’s previous quarterly dividend of $0.40.

Karat Packaging has a payout ratio of 91.8% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities analysts expect Karat Packaging to earn $1.80 per share next year, which means the company may not be able to cover its $1.80 annual dividend with an expected future payout ratio of 100.0%.

Karat Packaging Trading Down 2.8 %

KRT opened at $30.99 on Friday. The stock has a market capitalization of $620.42 million, a P/E ratio of 22.14 and a beta of 1.08. Karat Packaging has a 12 month low of $23.10 and a 12 month high of $33.89. The firm’s fifty day simple moving average is $30.42 and its 200 day simple moving average is $28.40. The company has a current ratio of 3.12, a quick ratio of 1.82 and a debt-to-equity ratio of 0.29.

Analysts Set New Price Targets

KRT has been the topic of several recent research reports. William Blair lowered shares of Karat Packaging from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 2nd. Stifel Nicolaus lifted their price target on shares of Karat Packaging from $32.00 to $36.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th.

About Karat Packaging

Karat Packaging Inc, together with its subsidiaries, engages in the manufacture and distribution of single-use disposable products in plastic, paper, biopolymer-based, and other compostable forms used in various restaurant and foodservice settings. It provides food and take-out containers, bags, tableware, cups, lids, cutlery, straws, specialty beverage ingredients, equipment, gloves, and other products under the Karat Earth brand.