Unilever PLC (NYSE:UL) Increases Dividend to $0.48 Per Share

Unilever PLC (NYSE:UL) announced a quarterly dividend on Thursday, October 24th, NASDAQ reports. Stockholders of record on Friday, November 8th will be given a dividend of 0.4755 per share on Friday, December 6th. This represents a $1.90 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date of this dividend is Friday, November 8th. This is an increase from Unilever’s previous quarterly dividend of $0.35.

Unilever has increased its dividend by an average of 0.1% annually over the last three years. Unilever has a payout ratio of 56.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect Unilever to earn $3.43 per share next year, which means the company should continue to be able to cover its $1.90 annual dividend with an expected future payout ratio of 55.4%.

Unilever Price Performance

NYSE:UL opened at $61.66 on Wednesday. Unilever has a 1-year low of $46.46 and a 1-year high of $65.87. The business’s fifty day moving average price is $63.67 and its 200 day moving average price is $59.00.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on UL. UBS Group upgraded shares of Unilever to a “strong sell” rating in a research note on Tuesday, July 30th. Bank of America raised Unilever from an “underperform” rating to a “buy” rating and lifted their price objective for the company from $47.00 to $72.00 in a research report on Thursday, August 22nd. StockNews.com raised Unilever from a “hold” rating to a “buy” rating in a research note on Friday, October 4th. Finally, TD Cowen assumed coverage on Unilever in a report on Tuesday, July 23rd. They issued a “buy” rating and a $67.00 price objective on the stock. Three analysts have rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $61.75.

Unilever Company Profile

Unilever PLC operates as a fast-moving consumer goods company in the Asia Pacific, Africa, the Americas, and Europe. It operates through five segments: Beauty & Wellbeing, Personal Care, Home Care, Nutrition, and Ice Cream. The Beauty & Wellbeing segment engages in the sale of hair care products, such as shampoo, conditioner, and styling; skin care products including face, hand, and body moisturizer; and prestige beauty and health & wellbeing products consist of the vitamins, minerals, and supplements.