Amcor PLC (NYSE:AMCR) to Issue $0.13 Quarterly Dividend

Key Points

• Amcor PLC announced a quarterly dividend of $0.13 per share, set to be paid on September 25th to stockholders of record as of September 5th.
• The company reported earnings of $0.20 per share, which missed expectations by $0.01, with a revenue of $5.08 billion for the quarter.
• Amcor's stock is currently down 0.3%, trading at $8.73, while the company boasts a market cap of $12.62 billion and a dividend yield of 5.8%.

Amcor PLC (NYSE:AMCR - Get Free Report) announced a quarterly dividend on Friday, August 15th, Wall Street Journal reports. Stockholders of record on Friday, September 5th will be paid a dividend of 0.1275 per share on Thursday, September 25th. This represents a c) annualized dividend and a dividend yield of 5.8%. The ex-dividend date is Friday, September 5th.

Amcor has a payout ratio of 62.2% indicating that its dividend is sufficiently covered by earnings. Analysts expect Amcor to earn $0.79 per share next year, which means the company should continue to be able to cover its $0.51 annual dividend with an expected future payout ratio of 64.6%.

Amcor Stock Down 0.3%

Shares of NYSE AMCR traded down $0.03 during midday trading on Friday, reaching $8.73. 65,215,919 shares of the company's stock traded hands, compared to its average volume of 29,318,555. The company has a market cap of $12.62 billion, a price-to-earnings ratio of 15.59, a P/E/G ratio of 1.27 and a beta of 0.74. Amcor has a one year low of $8.37 and a one year high of $11.48. The company has a quick ratio of 1.16, a current ratio of 1.70 and a debt-to-equity ratio of 2.24. The stock's 50 day simple moving average is $9.43 and its 200-day simple moving average is $9.52.

Amcor (NYSE:AMCR - Get Free Report) last posted its quarterly earnings data on Thursday, August 14th. The company reported $0.20 earnings per share for the quarter, missing analysts' consensus estimates of $0.21 by ($0.01). The business had revenue of $5.08 billion during the quarter, compared to analyst estimates of $5.18 billion. Amcor had a return on equity of 26.49% and a net margin of 5.99%. The firm's revenue for the quarter was up 43.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.21 EPS. On average, analysts predict that Amcor will post 0.74 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of AMCR. NewSquare Capital LLC increased its holdings in Amcor by 377.9% in the 2nd quarter. NewSquare Capital LLC now owns 2,810 shares of the company's stock valued at $26,000 after purchasing an additional 2,222 shares during the last quarter. AdvisorNet Financial Inc grew its position in Amcor by 839.8% in the 2nd quarter. AdvisorNet Financial Inc now owns 3,026 shares of the company's stock valued at $28,000 after acquiring an additional 2,704 shares in the last quarter. Rakuten Securities Inc. increased its stake in Amcor by 18,725.0% during the first quarter. Rakuten Securities Inc. now owns 3,012 shares of the company's stock worth $29,000 after purchasing an additional 2,996 shares during the period. Adirondack Trust Co. purchased a new position in shares of Amcor in the second quarter valued at approximately $29,000. Finally, HM Payson & Co. acquired a new position in shares of Amcor in the first quarter valued at approximately $30,000. Institutional investors and hedge funds own 45.14% of the company's stock.

About Amcor

Amcor plc develops, produces, and sells packaging products in Europe, North America, Latin America, Africa, and the Asia Pacific regions. The company operates through two segments, Flexibles and Rigid Packaging. The Flexibles segment provides flexible and film packaging products in the food and beverage, medical and pharmaceutical, fresh produce, snack food, personal care, and other industries.

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