Associated British Foods (LON:ABF) Sets New 52-Week High After Dividend Announcement

Associated British Foods plc (LON:ABF) shares reached a new 52-week high on Tuesday after the company announced a dividend. The company traded as high as GBX 2,741 ($33.86) and last traded at GBX 2,738.70 ($33.83), with a volume of 13246012 shares trading hands. The stock had previously closed at GBX 2,506 ($30.95).

The newly announced dividend which will be paid on Friday, July 5th. Investors of record on Thursday, May 30th will be paid a dividend of GBX 20.70 ($0.26) per share. This represents a yield of 0.83%. The ex-dividend date of this dividend is Thursday, May 30th. Associated British Foods’s dividend payout ratio is presently 3,507.46%.

Analysts Set New Price Targets

Separately, Shore Capital reissued a “buy” rating on shares of Associated British Foods in a research note on Thursday, April 18th.

Associated British Foods Price Performance

The stock has a market capitalization of £20.36 billion, a P/E ratio of 2,016.42, a price-to-earnings-growth ratio of 1.37 and a beta of 1.24. The business’s 50 day simple moving average is GBX 2,376.36 and its two-hundred day simple moving average is GBX 2,302.08. The company has a quick ratio of 0.93, a current ratio of 1.83 and a debt-to-equity ratio of 33.25.

About Associated British Foods

Associated British Foods plc operates as a diversified food, ingredients, and retail company worldwide. It operates through five segments: Grocery, Ingredients, Agriculture, Sugar, and Retail. The Grocery segment manufactures and sells grocery products, including hot beverages, sugar and sweeteners, vegetable oils, balsamic vinegars, bread and baked goods, cereals, ethnic foods, and meat products to retail, wholesale, and foodservice businesses.