Turning Point Brands, Inc. to Issue Quarterly Dividend of $0.07 (NYSE:TPB)

Turning Point Brands, Inc. (NYSE:TPB - Get Free Report) declared a quarterly dividend on Thursday, May 2nd, Wall Street Journal reports. Shareholders of record on Friday, June 14th will be paid a dividend of 0.07 per share on Friday, July 5th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date of this dividend is Friday, June 14th.

Turning Point Brands has raised its dividend by an average of 9.1% per year over the last three years and has increased its dividend annually for the last 5 consecutive years. Turning Point Brands has a dividend payout ratio of 9.7% meaning its dividend is sufficiently covered by earnings.

Turning Point Brands Stock Performance

Shares of TPB stock traded up $3.38 on Thursday, hitting $32.57. 451,891 shares of the stock traded hands, compared to its average volume of 120,688. The company has a debt-to-equity ratio of 2.02, a current ratio of 2.67 and a quick ratio of 1.68. The company has a market capitalization of $575.84 million, a PE ratio of 15.89 and a beta of 0.50. Turning Point Brands has a 1-year low of $19.67 and a 1-year high of $32.73. The company's fifty day moving average is $27.57 and its 200 day moving average is $24.97.

Turning Point Brands (NYSE:TPB - Get Free Report) last issued its earnings results on Wednesday, February 28th. The company reported $0.72 earnings per share for the quarter. Turning Point Brands had a return on equity of 38.62% and a net margin of 9.49%. The firm had revenue of $97.10 million for the quarter, compared to analyst estimates of $90.11 million. During the same period last year, the company earned $0.65 earnings per share. The firm's revenue for the quarter was down 6.1% on a year-over-year basis.

Insiders Place Their Bets

In other Turning Point Brands news, insider Plano Lorenzo De purchased 15,043 shares of the firm's stock in a transaction dated Thursday, March 14th. The stock was bought at an average price of $27.97 per share, with a total value of $420,752.71. Following the completion of the purchase, the insider now owns 31,375 shares in the company, valued at approximately $877,558.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 5.20% of the stock is owned by corporate insiders.

Turning Point Brands Company Profile

Turning Point Brands, Inc, together with its subsidiaries, manufactures, markets, and distributes branded consumer products. The company operates through three segments: Zig-Zag Products, Stoker's Products, and Creative Distribution Solutions. Zig-Zag Products segment markets and distributes rolling papers, tubes, finished cigars, make-your-own cigar wraps, and related products, as well as lighters and other accessories under the Zig-Zag brand.