Unilever N.V. (NYSE:UL) declared a quarterly dividend on Tuesday, April 23rd, Wall Street Journal reports. Investors of record on Friday, May 3rd will be paid a dividend of 0.4641 per share on Wednesday, June 5th. This represents a $1.86 dividend on an annualized basis and a yield of 3.16%. The ex-dividend date of this dividend is Thursday, May 2nd. This is a boost from Unilever’s previous quarterly dividend of $0.44.
Unilever has raised its dividend by an average of 11.7% per year over the last three years and has raised its dividend annually for the last 3 consecutive years. Unilever has a dividend payout ratio of 61.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect Unilever to earn $3.08 per share next year, which means the company should continue to be able to cover its $1.75 annual dividend with an expected future payout ratio of 56.8%.
Unilever stock traded up $0.06 during midday trading on Tuesday, reaching $58.74. 839,251 shares of the stock traded hands, compared to its average volume of 994,602. Unilever has a 12-month low of $50.80 and a 12-month high of $59.14. The stock has a market capitalization of $68.04 billion, a price-to-earnings ratio of 21.21, a price-to-earnings-growth ratio of 3.40 and a beta of 0.63.
Several equities analysts have recently issued reports on UL shares. Zacks Investment Research upgraded Unilever from a “hold” rating to a “strong-buy” rating and set a $66.00 price objective for the company in a research note on Friday, March 22nd. Exane BNP Paribas cut Unilever from an “outperform” rating to a “neutral” rating in a research note on Wednesday, February 27th. BNP Paribas cut Unilever from an “outperform” rating to a “neutral” rating in a research note on Wednesday, February 27th. Finally, JPMorgan Chase & Co. reiterated a “sell” rating on shares of Unilever in a research note on Wednesday, January 30th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a strong buy rating to the stock. Unilever currently has an average rating of “Hold” and an average target price of $66.00.
A hedge fund recently raised its stake in Unilever stock. Geode Capital Management LLC increased its holdings in shares of Unilever N.V. (NYSE:UL) by 15.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 34,902 shares of the company’s stock after purchasing an additional 4,630 shares during the quarter. Geode Capital Management LLC’s holdings in Unilever were worth $1,823,000 at the end of the most recent quarter. Institutional investors and hedge funds own 6.44% of the company’s stock.
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Unilever PLC operates in the fast moving consumer goods industry worldwide. It operates through Beauty & Personal Care, Foods & Refreshment, and Home Care segments. The Beauty & Personal Care segment offers skin care and hair care products, deodorants, and oral care products primarily under the Axe, Dove, Lux, Rexona, Sunsilk, TRESemmé, Signal, Lifebuoy, and Vaseline brands.
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