Intertape Polymer Group (ITP) Announces $0.14 Quarterly Dividend

Intertape Polymer Group (TSE:ITP) announced a quarterly dividend on Wednesday, November 7th, Zacks reports. Shareholders of record on Friday, December 14th will be paid a dividend of 0.14 per share on Friday, December 28th. This represents a $0.56 annualized dividend and a yield of 3.30%. The ex-dividend date is Thursday, December 13th.

ITP traded down C$0.51 during trading on Friday, hitting C$16.97. The company’s stock had a trading volume of 158,000 shares, compared to its average volume of 165,704. The company has a debt-to-equity ratio of 190.17, a current ratio of 2.44 and a quick ratio of 1.04. Intertape Polymer Group has a twelve month low of C$16.42 and a twelve month high of C$22.84.

Intertape Polymer Group (TSE:ITP) last issued its quarterly earnings data on Thursday, November 8th. The company reported C$0.41 EPS for the quarter, beating the consensus estimate of C$0.29 by C$0.12. The business had revenue of C$364.71 million during the quarter, compared to analyst estimates of C$354.82 million. On average, analysts forecast that Intertape Polymer Group will post 1.15999988767724 earnings per share for the current fiscal year.

In other news, insider Douglas Nalette sold 50,000 shares of Intertape Polymer Group stock in a transaction that occurred on Friday, November 16th. The stock was sold at an average price of C$18.03, for a total value of C$901,500.00.

Several analysts have commented on ITP shares. Royal Bank of Canada raised their price objective on Intertape Polymer Group from C$18.00 to C$20.00 and gave the company a “sector perform” rating in a report on Wednesday, August 15th. National Bank Financial reissued an “outperform” rating and issued a C$23.00 price objective on shares of Intertape Polymer Group in a report on Monday, December 3rd. Finally, TD Securities reissued a “buy” rating and issued a C$23.00 price objective on shares of Intertape Polymer Group in a report on Monday, December 3rd. One analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of C$21.67.

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Intertape Polymer Group Company Profile

Intertape Polymer Group Inc, together with its subsidiaries, operates in the packaging industry in Canada, the United States, and internationally. It develops, manufactures, and sells various paper and film based pressure sensitive and water activated tapes, polyethylene and specialized polyolefin films, woven coated fabrics, and complementary packaging systems for industrial and retail use.

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Dividend History for Intertape Polymer Group (TSE:ITP)

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