Unilever PLC (NYSE:UL) Plans Dividend of $0.48

Unilever PLC (NYSE:UL) announced a dividend on Thursday, October 24th, NASDAQ reports. Stockholders of record on Friday, November 8th will be paid a dividend of 0.4755 per share on Friday, December 6th. The ex-dividend date of this dividend is Friday, November 8th. This is a boost from Unilever’s previous dividend of $0.35.

Unilever has raised its dividend payment by an average of 0.1% annually over the last three years. Unilever has a dividend payout ratio of 55.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Unilever to earn $3.30 per share next year, which means the company should continue to be able to cover its $1.91 annual dividend with an expected future payout ratio of 57.9%.

Unilever Trading Down 1.0 %

Unilever stock traded down $0.61 during mid-day trading on Friday, hitting $61.69. The stock had a trading volume of 1,511,398 shares, compared to its average volume of 2,621,845. The firm’s 50 day moving average is $63.79 and its 200 day moving average is $58.04. Unilever has a one year low of $46.16 and a one year high of $65.87.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. UBS Group raised Unilever to a “strong sell” rating in a research note on Tuesday, July 30th. Bank of America upgraded shares of Unilever from an “underperform” rating to a “buy” rating and lifted their price objective for the company from $47.00 to $72.00 in a research report on Thursday, August 22nd. StockNews.com raised shares of Unilever from a “hold” rating to a “buy” rating in a report on Friday, October 4th. Finally, TD Cowen initiated coverage on shares of Unilever in a research note on Tuesday, July 23rd. They set a “buy” rating and a $67.00 target price for the company. Three investment analysts have rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Unilever has an average rating of “Hold” and an average price target of $61.75.

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.