Karat Packaging Inc. (KRT) to Issue Quarterly Dividend of $0.47 on August 28th

Karat Packaging Inc. (NASDAQ:KRT) announced a quarterly dividend on Tuesday, August 4th. Investors of record on Friday, August 21st will be paid a dividend of 0.47 per share on Friday, August 28th. This represents a c) annualized dividend and a dividend yield of 3.9%. The ex-dividend date is Friday, August 21st. This is a 4.4% increase from Karat Packaging’s previous quarterly dividend of $0.45.

Karat Packaging has a dividend payout ratio of 102.2% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Karat Packaging to earn $2.39 per share next year, which means the company should continue to be able to cover its $1.88 annual dividend with an expected future payout ratio of 78.7%.

Karat Packaging Trading Up 0.2%

NASDAQ:KRT opened at $47.88 on Wednesday. The stock’s 50 day moving average price is $37.23 and its 200 day moving average price is $30.58. Karat Packaging has a 52 week low of $20.61 and a 52 week high of $50.81. The company has a market capitalization of $954.25 million, a P/E ratio of 19.15, a P/E/G ratio of 2.07 and a beta of 0.82. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.25 and a current ratio of 2.25.

Karat Packaging (NASDAQ:KRT) last issued its quarterly earnings data on Thursday, August 6th. The company reported $1.48 earnings per share for the quarter, beating the consensus estimate of $0.47 by $1.01. The firm had revenue of $136.30 million for the quarter, compared to analyst estimates of $135.46 million. Karat Packaging had a net margin of 10.18% and a return on equity of 30.62%. On average, research analysts forecast that Karat Packaging will post 1.78 EPS for the current fiscal year.

Karat Packaging Company Profile

Karat Packaging Technologies, Inc (NASDAQ: KRT) is a U.S.-based provider of premium packaging solutions for consumer goods and industrial products. The company specializes in the design, manufacture and delivery of high-quality litho-laminated folding cartons, tubes and flexible packaging. Karat Packaging operates an integrated production model that combines prepress, printing, converting and finishing capabilities to support the branding and shelf-appeal needs of its customers.

The company serves a diverse range of end markets, including food and beverage, confectionery, health and beauty, pharmaceuticals, specialty chemicals and promotional packaging.