Associated British Foods (LON:ABF) Reaches New 12-Month High Following Dividend Announcement

Associated British Foods plc (LON:ABFGet Free Report) shares hit a new 52-week high during trading on Tuesday after the company announced a dividend. 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 trading hands. The stock had previously closed at GBX 2,506 ($30.95).

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

Analysts Set New Price Targets

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

Check Out Our Latest Research Report on ABF

Associated British Foods Trading Up 9.0 %

The company has a debt-to-equity ratio of 33.25, a current ratio of 1.83 and a quick ratio of 0.93. The stock’s 50-day moving average is GBX 2,367.64 and its two-hundred day moving average is GBX 2,299.26. The stock has a market cap of £20.58 billion, a P/E ratio of 2,038.06, a price-to-earnings-growth ratio of 1.37 and a beta of 1.24.

About Associated British Foods

(Get Free Report)

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.

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