Smithfield Foods, Inc. (NASDAQ:SFD) Plans $0.31 Quarterly Dividend

Key Points

• Smithfield declared a quarterly dividend of $0.3125 per share payable May 28 to holders of record May 14, equal to an annualized $1.25 and a yield of about 4.7%.
• The dividend is currently covered, with a payout ratio of 54.3%, and analysts’ EPS forecasts (~$2.63 next year) imply a lower future payout ratio of roughly 47.5%.
• Smithfield beat quarterly estimates with $0.64 EPS (vs. $0.58 est.) and $3.80B revenue (up 0.8% YoY); the stock trades around $26.50 with a market cap of $10.44B and a P/E of 10.5.

Smithfield Foods, Inc. (NASDAQ:SFD - Get Free Report) announced a quarterly dividend on Thursday, April 30th. Investors of record on Thursday, May 14th will be paid a dividend of 0.3125 per share on Thursday, May 28th. This represents a c) annualized dividend and a dividend yield of 4.7%. The ex-dividend date of this dividend is Thursday, May 14th.

Smithfield Foods has a payout ratio of 54.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Smithfield Foods to earn $2.63 per share next year, which means the company should continue to be able to cover its $1.25 annual dividend with an expected future payout ratio of 47.5%.

Smithfield Foods Stock Up 0.9%

Smithfield Foods stock opened at $26.53 on Friday. Smithfield Foods has a 52-week low of $21.08 and a 52-week high of $29.81. The company has a market cap of $10.44 billion, a P/E ratio of 10.50 and a beta of -0.33. The business has a 50-day simple moving average of $26.31 and a two-hundred day simple moving average of $23.87.

Smithfield Foods (NASDAQ:SFD - Get Free Report) last announced its quarterly earnings results on Tuesday, April 28th. The company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.06. The business had revenue of $3.80 billion during the quarter, compared to the consensus estimate of $3.74 billion. During the same quarter in the prior year, the firm posted $0.58 EPS. The company's revenue for the quarter was up .8% on a year-over-year basis. Research analysts anticipate that Smithfield Foods will post 2.72 EPS for the current fiscal year.

About Smithfield Foods

Smithfield Foods, Inc NASDAQ: SFD is one of the world's largest pork processors and hog producers. Founded in 1936 in Smithfield, Virginia, the company has grown from a regional ham producer into a fully integrated food company offering a broad range of fresh pork, value-added meats and prepared foods. Its product portfolio includes bacon, ham, sausage, ribs and deli meats marketed under well-known brands such as Smithfield®, Nathan's Famous® and Eckrich®.

Smithfield operates a network of hog production facilities, processing plants and distribution centers across the United States, Europe and Latin America.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.