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

Unilever PLC (NYSE:UL) announced a dividend on Thursday, October 24th, NASDAQ reports. Shareholders of record on Friday, November 8th will be given a dividend of 0.4755 per share on Friday, December 6th. The ex-dividend date is Friday, November 8th. This is a positive change from Unilever’s previous dividend of $0.35.

Unilever has increased its dividend payment by an average of 0.1% annually over the last three years. Unilever has a dividend payout ratio of 56.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Unilever to earn $3.30 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 57.6%.

Unilever Trading Down 1.0 %

NYSE:UL opened at $61.69 on Friday. Unilever has a 12 month low of $46.16 and a 12 month high of $65.87. The stock has a 50 day moving average of $63.79 and a two-hundred day moving average of $58.04. The firm has a market cap of $154.42 billion, a P/E ratio of 18.25, a price-to-earnings-growth ratio of 1.86 and a beta of 0.48.

Wall Street Analysts Forecast Growth

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