Intertape Polymer Group (TSE:ITP) Announces Dividend Increase – $0.20 Per Share

Intertape Polymer Group (TSE:ITP) declared a quarterly dividend on Wednesday, August 7th, Zacks reports. Stockholders of record on Monday, September 16th will be given a dividend of 0.195 per share on Monday, September 30th. This represents a $0.78 annualized dividend and a dividend yield of 4.36%. The ex-dividend date is Friday, September 13th. This is an increase from Intertape Polymer Group’s previous quarterly dividend of $0.19.

ITP stock traded down C$0.11 during trading on Wednesday, reaching C$17.90. 66,948 shares of the stock were exchanged, compared to its average volume of 144,526. The company has a current ratio of 2.52, a quick ratio of 1.05 and a debt-to-equity ratio of 220.25. The firm has a market capitalization of $1.07 billion and a price-to-earnings ratio of 28.41. The business has a 50 day moving average price of C$18.36 and a 200-day moving average price of C$18.38. Intertape Polymer Group has a 1 year low of C$14.60 and a 1 year high of C$19.97.

Intertape Polymer Group (TSE:ITP) last posted its quarterly earnings results on Thursday, August 8th. The company reported C$0.29 earnings per share for the quarter, beating the consensus estimate of C$0.25 by C$0.04. The firm had revenue of C$395.43 million during the quarter, compared to analysts’ expectations of C$395.37 million. On average, research analysts anticipate that Intertape Polymer Group will post 1.13 EPS for the current year.

A number of research analysts recently commented on ITP shares. National Bank Financial upped their price objective on Intertape Polymer Group from C$21.50 to C$22.50 and gave the company an “outperform” rating in a report on Friday, August 9th. Cormark cut their target price on Intertape Polymer Group from C$23.00 to C$21.50 in a research note on Friday, August 9th. Finally, BMO Capital Markets set a C$23.00 target price on Intertape Polymer Group and gave the company an “outperform” rating in a research report on Friday, June 28th.

Intertape Polymer Group Company Profile

Intertape Polymer Group Inc, together with its subsidiaries, operates in the packaging industry in Canada, the United States, and internationally. It develops, manufactures, and sells various paper-and-film based pressure sensitive and water activated tapes, polyethylene and specialized polyolefin films, protective packaging and engineered coated products, and complementary packaging systems for industrial and retail use.

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Dividend History for Intertape Polymer Group (TSE:ITP)

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