Amcor PLC (NYSE:AMCR) Plans $0.65 Quarterly Dividend

Amcor PLC (NYSE:AMCR) declared a quarterly dividend on Wednesday, May 6th. Investors of record on Thursday, May 28th will be paid a dividend of 0.65 per share on Wednesday, June 17th. This represents a c) annualized dividend and a yield of 6.5%. The ex-dividend date of this dividend is Thursday, May 28th.

Amcor has raised its dividend by an average of 0.0%per year over the last three years and has increased its dividend annually for the last 5 consecutive years. Amcor has a dividend payout ratio of 317.1% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Amcor to earn $4.36 per share next year, which means the company should continue to be able to cover its $2.60 annual dividend with an expected future payout ratio of 59.6%.

Amcor Stock Performance

Shares of AMCR stock opened at $40.26 on Thursday. The stock has a fifty day moving average price of $41.34 and a 200 day moving average price of $42.50. The stock has a market cap of $18.60 billion, a PE ratio of 26.32, a P/E/G ratio of 1.05 and a beta of 0.63. Amcor has a 1 year low of $36.67 and a 1 year high of $50.94. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.77 and a current ratio of 1.30.

Amcor (NYSE:AMCR) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $0.96 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.96. The firm had revenue of $5.91 billion during the quarter, compared to analysts’ expectations of $5.71 billion. Amcor had a return on equity of 15.57% and a net margin of 3.04%.Amcor’s revenue was up 77.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.90 earnings per share. Sell-side analysts forecast that Amcor will post 3.94 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Amcor

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. State Street Corp grew its position in shares of Amcor by 1.7% in the fourth quarter. State Street Corp now owns 141,509,581 shares of the company’s stock valued at $1,180,190,000 after purchasing an additional 2,432,340 shares during the period. M&G PLC grew its position in shares of Amcor by 6.1% in the fourth quarter. M&G PLC now owns 114,989,595 shares of the company’s stock valued at $919,917,000 after purchasing an additional 6,655,611 shares during the period. Vanguard Group Inc. grew its position in shares of Amcor by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 113,335,957 shares of the company’s stock valued at $945,222,000 after purchasing an additional 1,845,627 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Amcor by 2.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 84,095,399 shares of the company’s stock valued at $701,356,000 after purchasing an additional 2,036,667 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of Amcor by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 64,202,708 shares of the company’s stock valued at $533,487,000 after purchasing an additional 262,418 shares during the period. Hedge funds and other institutional investors own 45.14% of the company’s stock.

About Amcor

Amcor (NYSE: AMCR) is a global packaging company specializing in the design, development and production of flexible and rigid packaging solutions for food, beverage, pharmaceutical, medical, home and personal care, and other consumer and industrial products. The company’s product portfolio encompasses flexible films, pouches, specialty cartons, rigid containers, metal closures and dispensing systems. Amcor’s packaging solutions are engineered to preserve product quality, extend shelf life and meet the specific requirements of a wide range of end markets.

Founded in its current form in 2005 following a spin-off from a mining conglomerate, Amcor expanded its capabilities and geographic footprint through organic investments and strategic acquisitions.