KP Tissue (TSE:KPT) Hits New 12-Month High After Dividend Announcement

KP Tissue Inc. (TSE:KPT) hit a new 52-week high on Tuesday following a dividend announcement from the company. The company traded as high as C$9.35 and last traded at C$9.28, with a volume of 32032 shares changing hands. The stock had previously closed at C$9.31.

The newly announced dividend which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 15th will be paid a $0.18 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 7.76%. KP Tissue’s dividend payout ratio (DPR) is presently 112.73%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. National Bankshares increased their price objective on shares of KP Tissue from C$8.50 to C$9.50 and gave the stock a “sector perform” rating in a research note on Thursday, May 22nd. Desjardins increased their price objective on shares of KP Tissue from C$8.50 to C$9.50 and gave the stock a “hold” rating in a research note on Thursday, May 22nd. Finally, TD Securities increased their price objective on shares of KP Tissue from C$8.00 to C$9.00 and gave the stock a “hold” rating in a research note on Thursday, May 22nd.

KP Tissue Stock Performance

The business’s fifty day simple moving average is C$8.78 and its 200-day simple moving average is C$8.28. The company has a market capitalization of C$92.75 million, a P/E ratio of 14.53, a P/E/G ratio of -0.88 and a beta of 0.37.

KP Tissue Company Profile

KP Tissue Inc, through its interest in Kruger Products L.P., produces, distributes, markets, and sells a range of disposable tissue products in Canada and the United States. The company operates through two segments, Consumer and Away-From-Home. It offers bathroom and facial tissues, paper towels, and napkins.