Richards Packaging Income Fund (TSE:RPI.UN) Sets New 52-Week High Following Dividend Announcement

Key Points

• Richards Packaging Income Fund achieved a new 52-week high of C$34.89 after announcing a $0.11 dividend to be paid on October 14th, leading to a dividend yield of 3.8%.
• National Bankshares set a price target of C$43.00 for the stock, which currently has an average rating of "Buy" among analysts.
• The fund's market capitalization is approximately C$381.45 million, with a PE ratio of 15.90 and a notable payout ratio of 60.27%.

Richards Packaging Income Fund (TSE:RPI.UN - Get Free Report) hit a new 52-week high during mid-day trading on Monday after the company announced a dividend. The stock traded as high as C$34.89 and last traded at C$34.82, with a volume of 16901 shares. The stock had previously closed at C$33.65.The newly announced dividend which will be paid on Tuesday, October 14th. Stockholders of record on Tuesday, October 14th will be paid a $0.11 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend is Monday, September 29th. Richards Packaging Income Fund's payout ratio is currently 60.27%.

Analysts Set New Price Targets

Separately, National Bankshares set a C$43.00 price objective on Richards Packaging Income Fund and gave the company an "outperform" rating in a research note on Friday, September 12th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of C$43.00.

Richards Packaging Income Fund Trading Up 3.5%

The stock has a market capitalization of C$381.45 million, a PE ratio of 15.90 and a beta of 0.71. The firm has a 50 day moving average price of C$32.91 and a 200 day moving average price of C$30.69. The company has a quick ratio of 0.61, a current ratio of 1.62 and a debt-to-equity ratio of 24.16.

Richards Packaging Income Fund Company Profile

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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