Schweitzer-Mauduit International, Inc. (SWM) Announces Dividend Increase – $0.43 Per Share
Schweitzer-Mauduit International, Inc. (NYSE:SWM) announced a quarterly dividend on Thursday, November 2nd, Wall Street Journal reports. Investors of record on Friday, December 1st will be paid a dividend of 0.43 per share on Friday, December 22nd. This represents a $1.72 annualized dividend and a yield of Infinity. The ex-dividend date is Thursday, November 30th. This is a boost from Schweitzer-Mauduit International’s previous quarterly dividend of $0.42.
Schweitzer-Mauduit International has raised its dividend by an average of 8.7% annually over the last three years and has raised its dividend every year for the last 5 years. Schweitzer-Mauduit International has a payout ratio of 53.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Schweitzer-Mauduit International to earn $3.35 per share next year, which means the company should continue to be able to cover its $1.68 annual dividend with an expected future payout ratio of 50.1%.
Schweitzer-Mauduit International (NYSE:SWM) last posted its quarterly earnings results on Wednesday, November 1st. The company reported $1.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.18. Schweitzer-Mauduit International had a net margin of 8.33% and a return on equity of 19.52%. The company had revenue of $257.80 million during the quarter, compared to analyst estimates of $238.00 million. During the same period last year, the firm posted $0.74 EPS. Schweitzer-Mauduit International’s revenue for the quarter was up 23.2% compared to the same quarter last year.
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In other news, Director Jeffrey Keenan acquired 10,000 shares of the company’s stock in a transaction dated Tuesday, August 8th. The shares were acquired at an average price of $38.64 per share, with a total value of $386,400.00. Following the purchase, the director now directly owns 25,000 shares of the company’s stock, valued at $966,000. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 1.84% of the stock is owned by company insiders.
Separately, DA Davidson initiated coverage on shares of Schweitzer-Mauduit International in a research note on Tuesday, September 26th. They set a “buy” rating and a $47.00 price objective on the stock.
About Schweitzer-Mauduit International
Schweitzer-Mauduit International, Inc (SWM) is a diversified producer of engineered solutions and materials for a variety of industries. The Company has two operating product line segments: Engineered Papers, and Advanced Materials and Structures. As of December 31, 2016, the Company conducted business in over 90 countries and operate 18 production locations across the world, with facilities in the United States, Canada, the United Kingdom, France, Luxembourg, Russia, Brazil, China and Poland.
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