Greif Bros. (NYSE:GEF.B) Shares Gap Up After Dividend Announcement

Key Points

• Greif Bros. Corporation announced a dividend increase from $0.81 to $0.84 per share, which will be paid to stockholders on October 1st.
• The stock price gapped up from $68.68 to $71.73 after the dividend announcement, last trading at $69.77 with a volume of 221 shares.
• Greif Bros. reported earnings of $1.03 per share and revenue of $1.13 billion for the last quarter, reflecting a return on equity of 10.21%.

Greif Bros. Corporation (NYSE:GEF.B - Get Free Report) gapped up before the market opened on Thursday following a dividend announcement from the company. The stock had previously closed at $68.68, but opened at $71.73. Greif Bros. shares last traded at $69.77, with a volume of 221 shares. The newly announced dividend which will be paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 16th will be paid a dividend of $0.84 per share. This is an increase from Greif Bros.'s previous quarterly dividend of $0.81. This represents a $3.36 annualized dividend and a dividend yield of 4.8%. The ex-dividend date is Tuesday, September 16th. Greif Bros.'s payout ratio is 89.50%.

Greif Bros. Stock Performance

The stock has a market cap of $3.31 billion, a PE ratio of 19.27 and a beta of 0.88. The company has a quick ratio of 0.96, a current ratio of 1.27 and a debt-to-equity ratio of 1.07. The firm has a 50 day moving average price of $69.41 and a 200 day moving average price of $63.07.

Greif Bros. (NYSE:GEF.B - Get Free Report) last announced its quarterly earnings results on Wednesday, August 27th. The industrial products company reported $1.03 EPS for the quarter. The firm had revenue of $1.13 billion for the quarter. Greif Bros. had a return on equity of 10.21% and a net margin of 3.74%.

Greif Bros. Company Profile

Greif, Inc produces and sells industrial packaging products and services worldwide. It operates through four segments: Rigid Industrial Packaging & Services; Paper Packaging & Services; Flexible Products & Services; and Land Management. The Rigid Industrial Packaging & Services segment offers rigid industrial packaging products, including steel, fiber, and plastic drums; rigid intermediate bulk containers; closure systems for industrial packaging products; transit protection products; water bottles, and remanufactured and reconditioned industrial containers; and services, such as container life cycle management, filling, logistics, warehousing, and other packaging services.

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