Molson Coors Beverage (NYSE:TAP.A) Trading 2.3% Higher – Here’s Why

Shares of Molson Coors Beverage (NYSE:TAP.A) were up 2.3% during trading on Tuesday . The company traded as high as $59.90 and last traded at $56.25. Approximately 341 shares traded hands during trading, a decline of 60% from the average daily volume of 851 shares. The stock had previously closed at $54.99.

Molson Coors Beverage Stock Performance

The business’s 50 day simple moving average is $58.44 and its 200 day simple moving average is $58.82.

Molson Coors Beverage (NYSE:TAP.A) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.50 earnings per share (EPS) for the quarter. The firm had revenue of $2.30 billion for the quarter.

Molson Coors Beverage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, June 6th will be given a $0.47 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $1.88 annualized dividend and a yield of 3.34%. Molson Coors Beverage’s payout ratio is 77.05%.

About Molson Coors Beverage

Molson Coors Beverage Company manufactures, markets, and sells beer and other malt beverage products under various brands in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers flavored malt beverages including hard seltzers, craft, and ready to drink beverages. It provides its products under Aspall Cider, Blue Moon, Coors Original, Hop Valley brands, Leinenkugel's, Miller Genuine Draft, Molson Ultra, Sharp's, Staropramen, and Vizzy Hard Seltzer above premier brands; Bergenbier, Borsodi, Carling, Coors Banquet, Coors Light, Jelen, Kamenitza, Miller Lite, Molson Canadian Lager, Molson Dry, Molson Export, and Niksicko, Ozujsko under the premium brands; and Branik, Icehouse, Keystone, Miller High Life, Milwaukee's Best, and Steel Reserve under the economy brands.