Reynolds Consumer Products Inc. (NASDAQ:REYN) Shareholders to Receive $0.23 Quarterly Dividend

Key Points

• Reynolds Consumer Products declared a quarterly dividend of $0.23 per share, payable November 30 to shareholders of record on November 16. The annualized dividend is $0.92 per share, representing a 3.9% yield.
• The dividend appears adequately covered, with a current payout ratio of 55.8% and an expected future payout ratio of 54.8%, based on projected earnings of $1.68 per share.
• REYN shares rose 0.8% to $23.79. The company’s latest quarterly results exceeded analyst expectations, reporting adjusted earnings of $0.42 per share versus the $0.40 consensus estimate and revenue of $944 million.

Reynolds Consumer Products Inc. (NASDAQ:REYN - Get Free Report) announced a quarterly dividend on Thursday, October 29th. Shareholders of record on Monday, November 16th will be paid a dividend of $0.23 per share on Monday, November 30th. This represents a $0.92 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend is Monday, November 16th.

Reynolds Consumer Products has increased its dividend by an average of 0.1% annually over the last three years. Reynolds Consumer Products has a payout ratio of 55.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect Reynolds Consumer Products to earn $1.68 per share next year, which means the company should continue to be able to cover its $0.92 annual dividend with an expected future payout ratio of 54.8%.

Reynolds Consumer Products Stock Up 0.8%

Shares of NASDAQ REYN traded up $0.19 during mid-day trading on Friday, reaching $23.79. 256,034 shares of the company were exchanged, compared to its average volume of 1,189,963. Reynolds Consumer Products has a 1 year low of $20.44 and a 1 year high of $27.32. The firm has a 50-day moving average of $22.66 and a 200 day moving average of $23.23. The stock has a market cap of $5.01 billion, a price-to-earnings ratio of 14.48 and a beta of 0.55. The company has a quick ratio of 0.71, a current ratio of 1.80 and a debt-to-equity ratio of 0.66.

Reynolds Consumer Products (NASDAQ:REYN - Get Free Report) last announced its earnings results on Wednesday, July 29th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.02. The company had revenue of $944.00 million for the quarter, compared to analyst estimates of $935.46 million. Reynolds Consumer Products had a return on equity of 16.03% and a net margin of 9.11%. The firm's quarterly revenue was up .6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.39 EPS. On average, research analysts expect that Reynolds Consumer Products will post 1.60 earnings per share for the current year.

About Reynolds Consumer Products

Reynolds Consumer Products Inc NASDAQ: REYN manufactures and markets household products used for food preparation, storage, cleanup and waste management. Its portfolio includes aluminum foil, parchment paper, plastic wrap, disposable cookware, trash bags, food-storage bags and other everyday consumer products.

The company sells products under well-known brands including Reynolds and Reynolds Kitchens, Hefty, Presto, Diamond and Fresh. Its offerings are distributed through grocery stores, mass merchants, club stores, e-commerce channels and other retail outlets, as well as through foodservice and other commercial customers.

Reynolds Consumer Products serves consumers primarily in the United States and Canada.

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