Conagra Brands to Issue Quarterly Dividend of $0.17 (NYSE:CAG)

Key Points

• Conagra Brands announced a quarterly dividend of $0.175 per share, payable on September 2 to shareholders of record as of July 30. The dividend implies an annualized yield of about 5.0%.
• The company has raised its dividend annually for the last five consecutive years, and its payout ratio of 56.0% suggests the dividend is currently covered by earnings.
• Conagra also reported quarterly earnings of $0.47 per share, edging past analyst expectations, while revenue came in at $2.88 billion and rose 3.6% year over year.

Conagra Brands (NYSE:CAG - Get Free Report) announced a quarterly dividend on Wednesday, July 15th. Investors of record on Thursday, July 30th will be given a dividend of 0.175 per share on Wednesday, September 2nd. This represents a c) annualized dividend and a yield of 5.0%. The ex-dividend date of this dividend is Thursday, July 30th.

Conagra Brands has increased its dividend by an average of 0.1%per year over the last three years and has raised its dividend annually for the last 5 consecutive years. Conagra Brands has a dividend payout ratio of 56.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Conagra Brands to earn $1.65 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 84.8%.

Conagra Brands Stock Down 0.1%

CAG traded down $0.01 during midday trading on Wednesday, reaching $14.14. The company's stock had a trading volume of 32,556,341 shares, compared to its average volume of 16,028,336. The firm has a market capitalization of $6.76 billion, a price-to-earnings ratio of -141.35 and a beta of -0.02. The company has a current ratio of 0.90, a quick ratio of 0.30 and a debt-to-equity ratio of 0.79. Conagra Brands has a 1 year low of $12.53 and a 1 year high of $20.32. The stock's 50-day moving average is $13.60 and its 200-day moving average is $15.76.

Conagra Brands (NYSE:CAG - Get Free Report) last announced its earnings results on Wednesday, July 15th. The company reported $0.47 earnings per share for the quarter, beating analysts' consensus estimates of $0.46 by $0.01. Conagra Brands had a negative net margin of 0.39% and a positive return on equity of 10.15%. The business had revenue of $2.88 billion during the quarter, compared to the consensus estimate of $2.89 billion. During the same quarter last year, the firm earned $0.56 earnings per share. The business's revenue for the quarter was up 3.6% on a year-over-year basis. Conagra Brands has set its FY 2027 guidance at 1.400-1.500 EPS. As a group, research analysts expect that Conagra Brands will post 1.7 EPS for the current year.

About Conagra Brands

Conagra Brands, Inc is a leading packaged foods company based in Chicago, Illinois, with a broad portfolio of shelf-stable, frozen and refrigerated foods marketed under familiar brands. The company develops, produces and distributes a wide range of consumer food products, serving both retail grocery and foodservice channels. Conagra's product lineup includes frozen entrees, snacks, condiments, baking goods and desserts, providing convenient meal solutions for consumers across North America and select international markets.

Among its well-known brands are Birds Eye, Healthy Choice, Lean Cuisine, Marie Callender's and Banquet in the frozen foods category, as well as Hunt's sauces, Orville Redenbacher's popcorn, Slim Jim meat snacks and Reddi-wip toppings.

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