Associated British Foods (LON:ABF) Reaches New 12-Month High Following Dividend Announcement

Shares of Associated British Foods plc (LON:ABF - Get Free Report) reached a new 52-week high during mid-day trading on Tuesday after the company announced a dividend. The company traded as high as GBX 2,741 ($33.86) and last traded at GBX 2,738.70 ($33.83), with a volume of 13246012 shares. The stock had previously closed at GBX 2,506 ($30.95).

The newly announced dividend which will be paid on Friday, July 5th. Shareholders of record on Thursday, May 30th will be given a GBX 20.70 ($0.26) dividend. This represents a yield of 0.83%. The ex-dividend date of this dividend is Thursday, May 30th. Associated British Foods's dividend payout ratio (DPR) is 3,507.46%.

Wall Street Analyst Weigh In

Separately, Shore Capital reaffirmed a "buy" rating on shares of Associated British Foods in a research report on Thursday, April 18th.

Associated British Foods Stock Up 9.0 %

The company's fifty day moving average is GBX 2,367.64 and its 200-day moving average is GBX 2,299.26. The company has a market capitalization of £20.58 billion, a PE ratio of 2,038.06, a price-to-earnings-growth ratio of 1.37 and a beta of 1.24. The company has a debt-to-equity ratio of 33.25, a quick ratio of 0.93 and a current ratio of 1.83.

About Associated British Foods

Associated British Foods plc operates as a diversified food, ingredients, and retail company worldwide. It operates through five segments: Grocery, Ingredients, Agriculture, Sugar, and Retail. The Grocery segment manufactures and sells grocery products, including hot beverages, sugar and sweeteners, vegetable oils, balsamic vinegars, bread and baked goods, cereals, ethnic foods, and meat products to retail, wholesale, and foodservice businesses.