Unilever PLC (NYSE:UL) Raises Dividend to $0.48 Per Share

Unilever PLC (NYSE:UL) declared 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 an increase from Unilever’s previous dividend of $0.35.

Unilever has increased its dividend payment by an average of 0.1% per year over the last three years. Unilever has a payout ratio of 55.5% meaning its dividend is sufficiently covered by earnings. 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 Price Performance

Shares of NYSE:UL traded down $0.61 during trading on Friday, reaching $61.69. The company had a trading volume of 1,511,398 shares, compared to its average volume of 2,621,845. The company has a fifty day moving average of $63.79 and a two-hundred day moving average of $58.04. Unilever has a 12 month low of $46.16 and a 12 month high of $65.87.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on UL shares. TD Cowen started coverage on shares of Unilever in a research note on Tuesday, July 23rd. They issued a “buy” rating and a $67.00 price objective for the company. UBS Group raised shares of Unilever to a “strong sell” rating in a research note on Tuesday, July 30th. Bank of America raised shares of Unilever from an “underperform” rating to a “buy” rating and upped their price objective for the company from $47.00 to $72.00 in a research note on Thursday, August 22nd. Finally, StockNews.com raised shares of Unilever from a “hold” rating to a “buy” rating in a research note on Friday, October 4th. Three investment analysts have rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price 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.