Richards Packaging Income Fund (TSE:RPI.UN) Reaches New 1-Year High - Time to Buy?

Key Points

• Richards Packaging Income Fund shares reached a new 52-week high of C$33.40, closing at C$33.03 with a volume of 1,800 shares traded.
• The company announced a monthly dividend of $0.11 per share, which equates to an annualized dividend of $1.32 and a yield of 3.95%.
• Richards Packaging has transitioned from manufacturing glass containers for pharmacies to becoming a significant distributor for various sectors including food, pharmaceuticals, and health & beauty.

Shares of Richards Packaging Income Fund (TSE:RPI.UN - ) hit a new 52-week high on Monday . The stock traded as high as C$33.40 and last traded at C$33.03, with a volume of 1800 shares traded. The stock had previously closed at C$32.70.

Richards Packaging Income Fund Trading Up 2.1%

The company has a fifty day simple moving average of C$31.79 and a 200-day simple moving average of C$29.81. The company has a market capitalization of C$366.06 million, a PE ratio of 10.21 and a beta of 0.47. The company has a current ratio of 1.62, a quick ratio of 0.61 and a debt-to-equity ratio of 24.16.

Richards Packaging Income Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Thursday, August 14th will be issued a $0.11 dividend. The ex-dividend date is Thursday, July 31st. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.95%. Richards Packaging Income Fund's payout ratio is currently 40.37%.

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.

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