Glatfelter (GLT) to Issue Quarterly Dividend of $0.13 on February 1st

Glatfelter (NYSE:GLT) declared a quarterly dividend on Thursday, December 14th, RTT News reports. Stockholders of record on Wednesday, January 3rd will be paid a dividend of 0.13 per share by the basic materials company on Thursday, February 1st. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date is Tuesday, January 2nd.

Glatfelter has decreased its dividend payment by an average of 1.3% annually over the last three years and has raised its dividend annually for the last 4 consecutive years. Glatfelter has a dividend payout ratio of 46.0% meaning its dividend is sufficiently covered by earnings. Analysts expect Glatfelter to earn $1.37 per share next year, which means the company should continue to be able to cover its $0.52 annual dividend with an expected future payout ratio of 38.0%.

Glatfelter (GLT) opened at $21.50 on Thursday. The company has a market cap of $931.44, a PE ratio of 716.67, a PEG ratio of 3.79 and a beta of 1.36. The company has a current ratio of 1.70, a quick ratio of 0.94 and a debt-to-equity ratio of 0.65. Glatfelter has a 52-week low of $16.53 and a 52-week high of $25.59.

Glatfelter (NYSE:GLT) last posted its quarterly earnings results on Tuesday, October 31st. The basic materials company reported $0.50 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.11. Glatfelter had a net margin of 0.11% and a return on equity of 7.96%. The firm had revenue of $413.00 million during the quarter, compared to analyst estimates of $402.74 million. During the same quarter in the prior year, the business posted $0.54 earnings per share. The company’s quarterly revenue was up 2.0% compared to the same quarter last year. sell-side analysts forecast that Glatfelter will post 1.13 EPS for the current fiscal year.

GLT has been the subject of several recent analyst reports. Zacks Investment Research lowered shares of Glatfelter from a “hold” rating to a “sell” rating in a report on Thursday, November 2nd. TheStreet raised shares of Glatfelter from a “c+” rating to a “b-” rating in a report on Tuesday. Finally, ValuEngine raised shares of Glatfelter from a “hold” rating to a “buy” rating in a report on Thursday, November 2nd. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $19.38.

In other news, EVP John P. Jacunski sold 6,674 shares of the stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $20.85, for a total transaction of $139,152.90. Following the sale, the executive vice president now directly owns 57,464 shares of the company’s stock, valued at $1,198,124.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.30% of the stock is owned by corporate insiders.

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About Glatfelter

P. H. Glatfelter Company is a manufacturer of specialty papers and fiber-based engineered materials. The Company operates through three business units: Composite Fibers, Advanced Airlaid Materials and Specialty Papers. Its Composite Fibers business unit is engaged in the sale of single-serve tea and coffee filtration papers, non-woven wallcovering materials, metallized papers, composite laminates papers, and various technically special papers, including substrates for electrical applications.

Dividend History for Glatfelter (NYSE:GLT)

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