Unilever PLC (NYSE:UL) Announces Dividend Increase – $0.53 Per Share

Unilever PLC (NYSE:UL) declared a quarterly dividend on Thursday, July 31st. Investors of record on Friday, November 7th will be paid a dividend of 0.5258 per share on Friday, December 5th. This represents a c) dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend is Friday, November 7th. This is a 1.6% increase from Unilever’s previous quarterly dividend of $0.52.

Unilever has raised its dividend payment by an average of 0.0%annually over the last three years. Unilever has a dividend payout ratio of 57.9% meaning its dividend is sufficiently covered by earnings. Analysts expect Unilever to earn $3.49 per share next year, which means the company should continue to be able to cover its $2.08 annual dividend with an expected future payout ratio of 59.6%.

Unilever Stock Performance

Shares of UL stock traded up $0.16 during mid-day trading on Wednesday, hitting $60.97. 184,811 shares of the stock were exchanged, compared to its average volume of 2,571,666. Unilever has a 12-month low of $54.32 and a 12-month high of $65.66. The stock’s fifty day simple moving average is $61.44 and its two-hundred day simple moving average is $61.79.

Wall Street Analyst Weigh In

A number of research analysts have commented on UL shares. CICC Research started coverage on shares of Unilever in a research note on Thursday, August 21st. They issued an “outperform” rating on the stock. Jefferies Financial Group reaffirmed an “underperform” rating on shares of Unilever in a research note on Sunday, August 3rd. Weiss Ratings reiterated a “buy (b)” rating on shares of Unilever in a research note on Wednesday, October 8th. Finally, Zacks Research downgraded Unilever from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 16th. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $73.00.

About Unilever

Unilever PLC operates as a fast-moving consumer goods company in the Asia Pacific, Africa, the Americas, and Europe. It operates through five segments: Beauty & Wellbeing, Personal Care, Home Care, Nutrition, and Ice Cream. The Beauty & Wellbeing segment engages in the sale of hair care products, such as shampoo, conditioner, and styling; skin care products including face, hand, and body moisturizer; and prestige beauty and health & wellbeing products consist of the vitamins, minerals, and supplements.