Turning Point Brands, Inc. (NYSE:TPB) Announces $0.07 Quarterly Dividend

Turning Point Brands, Inc. (NYSE:TPB) declared a quarterly dividend on Thursday, May 2nd, Wall Street Journal reports. Stockholders of record on Friday, June 14th will be paid a dividend of 0.07 per share on Friday, July 5th. This represents a $0.28 annualized dividend and a dividend yield of 0.86%. The ex-dividend date of this dividend is Friday, June 14th.

Turning Point Brands has increased its dividend by an average of 9.1% annually over the last three years and has increased its dividend annually for the last 5 consecutive years. Turning Point Brands has a dividend payout ratio of 9.7% indicating that its dividend is sufficiently covered by earnings.

Turning Point Brands Trading Up 11.6 %

NYSE TPB traded up $3.38 on Thursday, reaching $32.57. 451,891 shares of the company were exchanged, compared to its average volume of 119,626. The company has a current ratio of 2.67, a quick ratio of 1.68 and a debt-to-equity ratio of 2.02. Turning Point Brands has a fifty-two week low of $19.67 and a fifty-two week high of $32.73. The business’s fifty day moving average price is $27.37 and its 200 day moving average price is $24.92. The stock has a market capitalization of $575.84 million, a P/E ratio of 15.53 and a beta of 0.50.

Turning Point Brands (NYSE:TPB) last posted its quarterly earnings results on Wednesday, February 28th. The company reported $0.72 earnings per share for the quarter. The business had revenue of $97.10 million during the quarter, compared to analysts’ expectations of $90.11 million. Turning Point Brands had a net margin of 9.49% and a return on equity of 38.62%. The business’s revenue for the quarter was down 6.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.65 EPS.

Insider Buying and Selling at Turning Point Brands

In other Turning Point Brands news, insider Plano Lorenzo De purchased 15,043 shares of the stock in a transaction dated Thursday, March 14th. The stock was acquired at an average cost of $27.97 per share, for a total transaction of $420,752.71. Following the acquisition, the insider now owns 31,375 shares in the company, valued at approximately $877,558.75. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 5.20% of the company’s stock.

Turning Point Brands Company Profile

Turning Point Brands, Inc, together with its subsidiaries, manufactures, markets, and distributes branded consumer products. The company operates through three segments: Zig-Zag Products, Stoker's Products, and Creative Distribution Solutions. Zig-Zag Products segment markets and distributes rolling papers, tubes, finished cigars, make-your-own cigar wraps, and related products, as well as lighters and other accessories under the Zig-Zag brand.