Richards Packaging Income Fund (TSE:RPI.UN) Hits New 12-Month High - What's Next?

Key Points

• Richards Packaging Income Fund shares reached a new 52-week high of C$33.84, indicating strong performance with a trading volume of 74,162 shares.
• The company announced a monthly dividend of $0.11, reflecting a 3.9% annual yield and a payout ratio of 60.27%.
• Richards Packaging has transformed from a glass container manufacturer to a major distributor for various sectors, including food and pharmaceuticals.

Shares of Richards Packaging Income Fund (TSE:RPI.UN - Get Free Report) hit a new 52-week high on Thursday . The stock traded as high as C$33.84 and last traded at C$33.84, with a volume of 74162 shares traded. The stock had previously closed at C$32.53.

Wall Street Analyst Weigh In

Separately, National Bankshares set a C$43.00 price objective on Richards Packaging Income Fund and gave the stock an "outperform" rating in a research report on Friday. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Richards Packaging Income Fund presently has a consensus rating of "Buy" and a consensus price target of C$43.00.

Richards Packaging Income Fund Stock Down 1.4%

The company has a quick ratio of 0.61, a current ratio of 1.62 and a debt-to-equity ratio of 24.16. The company has a market capitalization of C$365.02 million, a PE ratio of 15.21 and a beta of 0.71. The stock has a 50-day moving average of C$32.85 and a 200 day moving average of C$30.41.

Richards Packaging Income Fund Dividend Announcement

The company also recently announced a monthly dividend, which was paid on Thursday, August 14th. Shareholders of record on Thursday, August 14th were given a $0.11 dividend. This represents a c) dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend was Thursday, July 31st. Richards Packaging Income Fund's dividend payout ratio (DPR) is currently 60.27%.

About Richards Packaging Income Fund

RICHARDS Packaging business model has changed. Originally a manufacturer of glass containers for pharmacies, RICHARDS has become a major North American manufacturer and distributor of containers for the food, pharmaceutical, health & beauty and industrial sectors. While continuing to grow and expand into different areas of healthcare.