Greif (GEF.B) Announces Dividend of $0.78

Greif, Inc., a manufacturing company based in Delaware, Ohio, announced on February 26, 2024, that its board of directors declared a regular quarterly dividend of $0.78 per share ($3.12 annualized). This represents an increase from the previous dividend of $0.77 per share. Shareholders must purchase shares before the ex-dividend date of March 15, 2024, to qualify for the dividend, with the payment scheduled for April 1, 2024.

At the current share price of $63.08, the stock’s dividend yield is 4.95%. Looking back over the past five years, the average dividend yield has been 5.61%, with a low of 3.61% and a high of 8.69%. The current dividend yield is 0.58 standard deviations below the historical average.

Additionally, Greif’s dividend payout ratio is 0.53, indicating that the company pays out 53% of its income in dividends. A payout ratio above 1.0 would suggest the company is dipping into savings to maintain its dividend, which is not ideal.

In terms of fund sentiment, there are 509 funds or institutions reporting positions in Greif, with a decrease of 78 owners or 13.29% in the last quarter. The average portfolio weight of all funds dedicated to Greif is 0.14%, a decrease of 7.21%. Analyst price forecasts suggest a 25.18% upside potential for Greif, with the average one-year price target at $78.96.

Overall, Greif’s dividend increase and positive analyst forecasts indicate a promising outlook for the company, despite not having increased its dividend in the last three years. Investors and shareholders will be closely monitoring the company’s performance in the coming months.