Richards Packaging Income Fund (TSE:RPI.UN) Sets New 52-Week High After Dividend Announcement

Richards Packaging Income Fund (TSE:RPI.UN)’s stock price hit a new 52-week high during trading on Monday after the company announced a dividend. The stock traded as high as C$34.89 and last traded at C$34.82, with a volume of 16901 shares. The stock had previously closed at C$33.65.

The newly announced dividend which will be paid on Tuesday, October 14th. Stockholders of record on Tuesday, October 14th will be issued a $0.11 dividend. This represents a c) annualized dividend and a dividend yield of 3.8%. The ex-dividend date is Monday, September 29th. Richards Packaging Income Fund’s dividend payout ratio is presently 60.27%.

Wall Street Analysts Forecast Growth

Separately, National Bankshares set a C$43.00 price objective on Richards Packaging Income Fund and gave the company an “outperform” rating in a report on Friday, September 12th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, Richards Packaging Income Fund presently has an average rating of “Buy” and a consensus target price of C$43.00.

Richards Packaging Income Fund Price Performance

The company has a debt-to-equity ratio of 24.16, a quick ratio of 0.61 and a current ratio of 1.62. The firm has a fifty day simple moving average of C$32.95 and a 200 day simple moving average of C$30.74. The company has a market capitalization of C$381.78 million, a PE ratio of 15.91 and a beta of 0.71.

About Richards Packaging Income Fund

RICHARDS Packaging business model has changed. Originally a manufacturer of glass containers for pharmacies, RICHARDS has become a major North American manufacturer and distributor of containers for the food, pharmaceutical, health & beauty and industrial sectors. While continuing to grow and expand into different areas of healthcare.