Associated British Foods (LON:ABF) Sets New 52-Week High After Dividend Announcement

Associated British Foods plc (LON:ABF)’s stock price hit a new 52-week high during trading on Tuesday following a dividend announcement from the company. The company traded as high as GBX 2,741 ($33.86) and last traded at GBX 2,738.70 ($33.83), with a volume of 13246012 shares. The stock had previously closed at GBX 2,506 ($30.95).

The newly announced dividend which will be paid on Friday, July 5th. Stockholders of record on Thursday, May 30th will be paid a dividend of GBX 20.70 ($0.26) per share. This represents a dividend yield of 0.83%. The ex-dividend date is Thursday, May 30th. Associated British Foods’s dividend payout ratio (DPR) is presently 3,507.46%.

Analyst Ratings Changes

Separately, Shore Capital restated a “buy” rating on shares of Associated British Foods in a research note on Thursday, April 18th.

Associated British Foods Price Performance

The company has a 50-day simple moving average of GBX 2,367.64 and a 200-day simple moving average of GBX 2,299.26. The stock has a market cap of £20.58 billion, a PE ratio of 2,038.06, a PEG ratio of 1.37 and a beta of 1.24. The company has a debt-to-equity ratio of 33.25, a current ratio of 1.83 and a quick ratio of 0.93.

Associated British Foods Company Profile

Associated British Foods plc operates as a diversified food, ingredients, and retail company worldwide. It operates through five segments: Grocery, Ingredients, Agriculture, Sugar, and Retail. The Grocery segment manufactures and sells grocery products, including hot beverages, sugar and sweeteners, vegetable oils, balsamic vinegars, bread and baked goods, cereals, ethnic foods, and meat products to retail, wholesale, and foodservice businesses.