Associated British Foods (LON:ABF) Hits New 52-Week High Following Dividend Announcement

Associated British Foods plc (LON:ABF)’s stock price reached a new 52-week high on Tuesday after the company announced a dividend. The stock traded as high as GBX 2,741 ($33.86) and last traded at GBX 2,738.70 ($33.83), with a volume of 13246012 shares. The stock had previously closed at GBX 2,506 ($30.95).

The newly announced dividend which will be paid on Friday, July 5th. Shareholders of record on Thursday, May 30th will be paid a dividend of GBX 20.70 ($0.26) per share. The ex-dividend date of this dividend is Thursday, May 30th. This represents a yield of 0.83%. Associated British Foods’s payout ratio is presently 3,507.46%.

Analysts Set New Price Targets

Separately, Shore Capital reiterated a “buy” rating on shares of Associated British Foods in a research report on Thursday, April 18th.

Associated British Foods Stock Down 1.1 %

The company has a market capitalization of £20.36 billion, a PE ratio of 2,016.42, a price-to-earnings-growth ratio of 1.37 and a beta of 1.24. The company has a quick ratio of 0.93, a current ratio of 1.83 and a debt-to-equity ratio of 33.25. The firm has a 50-day moving average of GBX 2,376.36 and a two-hundred day moving average of GBX 2,302.08.

Associated British Foods Company Profile

Associated British Foods plc operates as a diversified food, ingredients, and retail company worldwide. It operates through five segments: Grocery, Ingredients, Agriculture, Sugar, and Retail. The Grocery segment manufactures and sells grocery products, including hot beverages, sugar and sweeteners, vegetable oils, balsamic vinegars, bread and baked goods, cereals, ethnic foods, and meat products to retail, wholesale, and foodservice businesses.