Veritiv said on August 7, 2023 that its board of directors declared a regular quarterly dividend of $0.63 per share ($2.52 annualized). Previously, the company paid $0.63 per share.
Shares must be purchased before the ex-div date of August 16, 2023 to qualify for the dividend. Shareholders of record as of August 17, 2023 will receive the payment on September 13, 2023.
At the current share price of $168.99 / share, the stock's dividend yield is 1.49%.
Looking back five years and taking a sample every week, the average dividend yield has been 8.64%, the lowest has been 1.12%, and the highest has been 43.83%. The standard deviation of yields is 7.45 (n=236).
The current dividend yield is 0.96 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.08. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.33%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 555 funds or institutions reporting positions in Veritiv. This is an increase of 4 owner(s) or 0.73% in the last quarter. Average portfolio weight of all funds dedicated to VRTV is 0.15%, a decrease of 6.11%. Total shares owned by institutions increased in the last three months by 1.35% to 15,208K shares. 
The put/call ratio of VRTV is 1.42, indicating a bearish outlook.
Analyst Price Forecast Suggests 4.63% Downside
As of August 2, 2023, the average one-year price target for Veritiv is 161.16. The forecasts range from a low of 159.58 to a high of $165.90. The average price target represents a decrease of 4.63% from its latest reported closing price of 168.99.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Veritiv is 6,731MM, an increase of 4.60%. The projected annual non-GAAP EPS is 16.47.
What are Other Shareholders Doing?
Baupost Group holds 3,324K shares representing 24.54% ownership of the company. No change in the last quarter.
IJR - iShares Core S&P Small-Cap ETF holds 981K shares representing 7.24% ownership of the company. In it's prior filing, the firm reported owning 999K shares, representing a decrease of 1.86%. The firm increased its portfolio allocation in VRTV by 5.92% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 395K shares representing 2.92% ownership of the company. In it's prior filing, the firm reported owning 387K shares, representing an increase of 2.01%. The firm increased its portfolio allocation in VRTV by 4.63% over the last quarter.
IWM - iShares Russell 2000 ETF holds 283K shares representing 2.09% ownership of the company. In it's prior filing, the firm reported owning 300K shares, representing a decrease of 5.81%. The firm increased its portfolio allocation in VRTV by 9.64% over the last quarter.
Pacer Advisors holds 256K shares representing 1.89% ownership of the company. In it's prior filing, the firm reported owning 160K shares, representing an increase of 37.37%. The firm increased its portfolio allocation in VRTV by 39.84% over the last quarter.
Veritiv Background Information
(This description is provided by the company.)
Veritiv Corporation, headquartered in Atlanta and a Fortune 500® company, is a full-service provider of packaging, JanSan and hygiene products, services and solutions. Additionally, Veritiv provides print and publishing products, and logistics and supply chain management solutions. Serving customers in a wide range of industries both in North America and globally, Veritiv has distribution centers throughout the U.S., Canada and Mexico, and team members around the world helping shape the success of its customers.
Additional reading:
- Veritiv Announces Second Quarter 2023 Financial Results
- Veritiv Announces Second Quarter 2023 Financial Results
- VOTING AND SUPPORT AGREEMENT
- AGREEMENT AND PLAN OF MERGER dated as of AUGUST 6, 2023 VERITIV CORPORATION, VERDE PURCHASER, LLC VERDE MERGER SUB, INC. TABLE OF CONTENTS
- Veritiv Corporation to be Acquired by CD&R
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
