Richards Packaging Income Fund (TSE:RPI.UN) Hits New 52-Week High - Still a 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.

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

Richards Packaging Income Fund Price Performance

The company has a debt-to-equity ratio of 24.16, a current ratio of 1.62 and a quick ratio of 0.61. The company has a market capitalization of C$355.87 million, a PE ratio of 9.93 and a beta of 0.47. The firm has a 50-day moving average of C$32.00 and a 200 day moving average of C$29.87.

Richards Packaging Income Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Thursday, August 14th will be given a $0.11 dividend. This represents a c) annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend is Thursday, July 31st. Richards Packaging Income Fund's dividend payout ratio (DPR) is presently 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.