Domtar Corp (NYSE:UFS) (TSE:UFS) announced a quarterly dividend on Thursday, February 23rd. Shareholders of record on Monday, April 3rd will be paid a dividend of 0.415 per share by the basic materials company on Monday, April 17th. This represents a $1.66 annualized dividend and a yield of 4.46%. The ex-dividend date is Thursday, March 30th.
Domtar Corp has increased its dividend payment by an average of 17.7% annually over the last three years and has increased its dividend every year for the last 7 years. Domtar Corp has a dividend payout ratio of 59.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Domtar Corp to earn $3.16 per share next year, which means the company should continue to be able to cover its $1.66 annual dividend with an expected future payout ratio of 52.5%.
Shares of Domtar Corp (NYSE:UFS) traded up 1.169% during midday trading on Friday, hitting $37.635. 278,443 shares of the stock were exchanged. The firm’s 50-day moving average is $37.38 and its 200 day moving average is $38.66. The firm has a market cap of $2.36 billion, a PE ratio of 18.449 and a beta of 1.59. Domtar Corp has a 52-week low of $32.74 and a 52-week high of $44.58.
Domtar Corp (NYSE:UFS) last released its earnings results on Thursday, February 9th. The basic materials company reported $0.75 earnings per share for the quarter, missing the consensus estimate of $0.95 by $0.20. Domtar Corp had a return on equity of 6.54% and a net margin of 2.51%. The business had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter last year, the business posted $1.11 earnings per share. The firm’s revenue for the quarter was down 3.0% compared to the same quarter last year. On average, analysts forecast that Domtar Corp will post $2.74 earnings per share for the current year.
Several equities analysts have recently commented on the company. Zacks Investment Research lowered Domtar Corp from a “hold” rating to a “sell” rating in a research note on Tuesday, February 7th. Bank of America Corp upgraded Domtar Corp from a “neutral” rating to a “buy” rating and raised their price target for the company from $44.00 to $48.00 in a research note on Friday, January 27th. DA Davidson restated an “underperform” rating and set a $32.00 price target (down previously from $35.00) on shares of Domtar Corp in a research note on Wednesday, March 29th. Finally, Citigroup Inc restated a “neutral” rating and set a $39.00 price target (down previously from $41.00) on shares of Domtar Corp in a research note on Friday, April 14th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company’s stock. Domtar Corp has an average rating of “Hold” and an average target price of $40.83.
In other Domtar Corp news, insider John David Williams sold 32,550 shares of Domtar Corp stock in a transaction dated Thursday, February 23rd. The stock was sold at an average price of $39.28, for a total value of $1,278,564.00. Following the transaction, the insider now owns 33,060 shares in the company, valued at $1,298,596.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.85% of the stock is owned by insiders.
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Domtar Corp Company Profile
Domtar Corporation designs, manufactures, markets and distributes a range of fiber-based products, including communication papers, specialty and packaging papers and absorbent hygiene products. The Company segments include Pulp and Paper and Personal Care. The Pulp and Paper segment consists of the design, manufacturing, marketing and distribution of communication, specialty and packaging papers, as well as softwood, fluff and hardwood market pulp.
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