Karat Packaging Inc. (NASDAQ:KRT) Increases Dividend to $0.40 Per Share

Posted by Michael Baxter on Nov 19th, 2024

Karat Packaging Inc. (NASDAQ:KRT – Get Free Report) announced a quarterly dividend on Tuesday, November 5th,Zacks Dividends reports. Shareholders of record on Wednesday, November 20th will be given a dividend of 0.40 per share on Friday, November 29th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 5.48%. The ex-dividend date is Wednesday, November 20th. This is an increase from Karat Packaging’s previous quarterly dividend of $0.35.

Karat Packaging has a dividend payout ratio of 84.2% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities analysts expect Karat Packaging to earn $1.88 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 85.1%.

Karat Packaging Trading Down 0.9 %

NASDAQ KRT opened at $29.20 on Tuesday. Karat Packaging has a 12 month low of $21.06 and a 12 month high of $31.21. The company has a current ratio of 3.12, a quick ratio of 1.82 and a debt-to-equity ratio of 0.29. The business’s 50-day moving average price is $26.85 and its two-hundred day moving average price is $27.41. The firm has a market capitalization of $584.58 million, a PE ratio of 20.86 and a beta of 1.03.

Wall Street Analyst Weigh In

Separately, Truist Financial downgraded Karat Packaging from a “buy” rating to a “hold” rating and dropped their price target for the stock from $34.00 to $28.00 in a research note on Friday, August 9th.

Read Our Latest Report on KRT

Karat Packaging Company Profile

(Get Free Report)

Karat Packaging Inc, together with its subsidiaries, engages in the manufacture and distribution of single-use disposable products in plastic, paper, biopolymer-based, and other compostable forms used in various restaurant and foodservice settings. It provides food and take-out containers, bags, tableware, cups, lids, cutlery, straws, specialty beverage ingredients, equipment, gloves, and other products under the Karat Earth brand.