Sylvamo Co. (NYSE:SLVM) to Issue $0.45 Quarterly Dividend

Sylvamo Co. (NYSE:SLVM) announced a quarterly dividend on Thursday, February 20th, Wall Street Journal reports. Stockholders of record on Tuesday, April 8th will be paid a dividend of 0.45 per share on Tuesday, April 29th. This represents a $1.80 annualized dividend and a dividend yield of 2.63%. The ex-dividend date is Tuesday, April 8th.

Sylvamo has a payout ratio of 24.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Sylvamo to earn $7.25 per share next year, which means the company should continue to be able to cover its $1.80 annual dividend with an expected future payout ratio of 24.8%.

Sylvamo Stock Performance

Shares of Sylvamo stock opened at $68.33 on Friday. The company has a market cap of $2.80 billion, a PE ratio of 9.48, a price-to-earnings-growth ratio of 2.23 and a beta of 1.12. Sylvamo has a 52 week low of $54.59 and a 52 week high of $98.02. The business has a 50 day moving average price of $78.16 and a 200-day moving average price of $81.43. The company has a quick ratio of 1.03, a current ratio of 1.56 and a debt-to-equity ratio of 0.92.

Sylvamo (NYSE:SLVM) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $1.94 EPS for the quarter, beating analysts’ consensus estimates of $1.84 by $0.10. Sylvamo had a return on equity of 34.72% and a net margin of 7.96%. Equities analysts anticipate that Sylvamo will post 7.45 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have issued reports on SLVM shares. Royal Bank of Canada decreased their target price on Sylvamo from $83.00 to $80.00 and set a “sector perform” rating for the company in a research report on Thursday, February 13th. Bank of America reissued an “underperform” rating and issued a $96.00 target price on shares of Sylvamo in a research report on Wednesday, December 11th.

About Sylvamo

Sylvamo Corporation produces and markets uncoated freesheet for cutsize, offset paper, and pulp in Latin America, Europe, and North America. The company operates through Europe, Latin America, and North America segments. The Europe segment offers copy, tinted, and colored laser printing paper under REY Adagio and Pro-Design brands; and graphic and high-speed inkjet printing papers under the brand Jetstar; as well as produces uncoated freesheet papers.