Turning Point Brands, Inc. (NYSE:TPB) Declares Dividend Increase – $0.08 Per Share

Turning Point Brands, Inc. (NYSE:TPB) declared a quarterly dividend on Wednesday, February 25th. Stockholders of record on Friday, March 20th will be given a dividend of 0.08 per share on Friday, April 10th. This represents a c) dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend is Friday, March 20th. This is a 6.7% increase from Turning Point Brands’s previous quarterly dividend of $0.08.

Turning Point Brands has increased its dividend payment by an average of 0.1%annually over the last three years and has increased its dividend every year for the last 7 years. Turning Point Brands has a payout ratio of 8.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Turning Point Brands to earn $3.09 per share next year, which means the company should continue to be able to cover its $0.30 annual dividend with an expected future payout ratio of 9.7%.

Turning Point Brands Trading Down 0.2%

Shares of NYSE:TPB traded down $0.34 during midday trading on Thursday, reaching $142.65. 88,302 shares of the company’s stock were exchanged, compared to its average volume of 283,423. The stock has a market cap of $2.72 billion, a price-to-earnings ratio of 50.23 and a beta of 0.87. Turning Point Brands has a fifty-two week low of $51.48 and a fifty-two week high of $146.90. The firm’s 50 day simple moving average is $119.02 and its two-hundred day simple moving average is $105.04. The company has a debt-to-equity ratio of 0.82, a current ratio of 5.56 and a quick ratio of 3.98.

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.