Sylvamo Co. (SLVM) to Issue Quarterly Dividend of $0.45 on April 29th

Sylvamo Co. (NYSE:SLVM) announced a quarterly dividend on Wednesday, February 19th, Wall Street Journal reports. Stockholders of record on Tuesday, April 8th will be given a dividend of 0.45 per share on Tuesday, April 29th. This represents a $1.80 annualized dividend and a dividend yield of 3.05%. The ex-dividend date of this dividend is Tuesday, April 8th.

Sylvamo has a payout ratio of 24.5% meaning its dividend is sufficiently covered by earnings. 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

SLVM stock opened at $59.08 on Friday. The firm has a market cap of $2.40 billion, a PE ratio of 8.19, a price-to-earnings-growth ratio of 2.23 and a beta of 1.17. The company has a current ratio of 1.56, a quick ratio of 1.03 and a debt-to-equity ratio of 0.92. The stock has a 50-day moving average price of $70.28 and a 200-day moving average price of $79.61. Sylvamo has a 1-year low of $56.35 and a 1-year high of $98.02.

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

Analyst Ratings Changes

SLVM has been the topic of several research analyst reports. Bank of America reissued an “underperform” rating and set a $96.00 target price on shares of Sylvamo in a research note on Wednesday, December 11th. Royal Bank of Canada reduced their target price on Sylvamo from $83.00 to $80.00 and set a “sector perform” rating for the company in a research note on Thursday, February 13th.

Insider Buying and Selling

In related news, CEO Jeanmichel Ribieras sold 21,250 shares of the company’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $65.14, for a total value of $1,384,225.00. Following the sale, the chief executive officer now owns 131,894 shares in the company, valued at $8,591,575.16. This represents a 13.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.75% of the stock is owned by company insiders.

Sylvamo Company Profile

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.