Turning Point Brands, Inc. Declares Quarterly Dividend of $0.08 (NYSE:TPB)

Key Points

• Turning Point Brands declared a quarterly dividend of $0.08 per share, payable October 9 to shareholders of record on September 18. The annualized dividend is $0.32, representing a 0.4% yield, with the company having increased its dividend for seven consecutive years.
• The dividend appears well covered, with a current payout ratio of 9.0% and an expected future payout ratio of 14.3% based on projected earnings of $2.24 per share.
• Turning Point Brands recently exceeded quarterly earnings expectations, reporting $0.76 in EPS versus the $0.68 consensus estimate and $124.28 million in revenue, up 16.8% year over year.

Turning Point Brands, Inc. (NYSE:TPB - Get Free Report) announced a quarterly dividend on Monday, July 27th. Shareholders of record on Friday, September 18th will be given a dividend of 0.08 per share on Friday, October 9th. This represents a c) dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Friday, September 18th.

Turning Point Brands has increased its dividend by an average of 0.1%per year over the last three years and has raised its dividend annually for the last 7 consecutive years. Turning Point Brands has a payout ratio of 9.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Turning Point Brands to earn $2.24 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 14.3%.

Turning Point Brands Stock Performance

TPB opened at $78.67 on Tuesday. The business has a 50 day moving average price of $83.94 and a two-hundred day moving average price of $95.22. The company has a market capitalization of $1.52 billion, a price-to-earnings ratio of 26.76 and a beta of 0.92. Turning Point Brands has a 1-year low of $65.80 and a 1-year high of $146.90. The company has a debt-to-equity ratio of 0.76, a current ratio of 5.87 and a quick ratio of 4.05.

Turning Point Brands (NYSE:TPB - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.68 by $0.08. The firm had revenue of $124.28 million for the quarter, compared to analysts' expectations of $115.67 million. Turning Point Brands had a net margin of 11.53% and a return on equity of 16.54%. Turning Point Brands's revenue for the quarter was up 16.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.91 earnings per share. Research analysts predict that Turning Point Brands will post 1.39 EPS for the current fiscal year.

Turning Point Brands Company Profile

Turning Point Brands, Inc NYSE: TPB is a U.S.-based consumer products company focused on the manufacture, marketing and distribution of smokeless tobacco, vaping and cigar products. Headquartered in Old Hickory, Tennessee, the company serves retail outlets across all 50 states through a direct-store-delivery network and select third-party distributors. Turning Point Brands operates two reporting segments—Smokeless Products and Cigar—and leverages its logistics capabilities to offer a broad portfolio of brands and SKUs.

In its Smokeless Products segment, Turning Point Brands produces moist smokeless tobacco under leading brand names such as Grizzly, Kodiak and Stoker's.

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