Silgan Holdings (SLGN) Declares $0.18 Dividend

Silgan Holdings said on May 1, 2023 that its board of directors declared a regular quarterly dividend of $0.18 per share ($0.72 annualized). Previously, the company paid $0.18 per share.

Shares must be purchased before the ex-div date of May 31, 2023 to qualify for the dividend. Shareholders of record as of June 1, 2023 will receive the payment on June 15, 2023.

At the current share price of $48.60 / share, the stock's dividend yield is 1.48%.

Looking back five years and taking a sample every week, the average dividend yield has been 1.41%, the lowest has been 1.10%, and the highest has been 1.90%. The standard deviation of yields is 0.12 (n=237).

The current dividend yield is 0.60 standard deviations above the historical average.

Additionally, the company's dividend payout ratio is 0.24. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company's 3-Year dividend growth rate is 0.50%, demonstrating that it has increased its dividend over time.

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What is the Fund Sentiment?

There are 686 funds or institutions reporting positions in Silgan Holdings. This is an increase of 56 owner(s) or 8.89% in the last quarter. Average portfolio weight of all funds dedicated to SLGN is 0.25%, an increase of 0.06%. Total shares owned by institutions decreased in the last three months by 1.79% to 97,290K shares. The put/call ratio of SLGN is 5.66, indicating a bearish outlook.

Analyst Price Forecast Suggests 24.25% Upside

As of April 24, 2023, the average one-year price target for Silgan Holdings is 60.38. The forecasts range from a low of 50.50 to a high of $67.20. The average price target represents an increase of 24.25% from its latest reported closing price of 48.60.

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The projected annual revenue for Silgan Holdings is 6,701MM, an increase of 4.90%. The projected annual non-GAAP EPS is 4.20.

What are Other Shareholders Doing?

Jpmorgan Chase holds 4,399K shares representing 3.99% ownership of the company. In it's prior filing, the firm reported owning 4,633K shares, representing a decrease of 5.32%. The firm increased its portfolio allocation in SLGN by 7.49% over the last quarter.

Wellington Management Group Llp holds 3,736K shares representing 3.39% ownership of the company. In it's prior filing, the firm reported owning 3,696K shares, representing an increase of 1.08%. The firm increased its portfolio allocation in SLGN by 17.35% over the last quarter.

Cardinal Capital Management holds 3,411K shares representing 3.09% ownership of the company. In it's prior filing, the firm reported owning 3,573K shares, representing a decrease of 4.75%. The firm increased its portfolio allocation in SLGN by 10.43% over the last quarter.

JMVSX - JPMorgan Mid Cap Value Fund Class I holds 3,179K shares representing 2.88% ownership of the company. In it's prior filing, the firm reported owning 3,323K shares, representing a decrease of 4.51%. The firm increased its portfolio allocation in SLGN by 11.74% over the last quarter.

AMERICAN FUNDS INSURANCE SERIES - Growth Fund Class 1 holds 2,858K shares representing 2.59% ownership of the company. In it's prior filing, the firm reported owning 2,835K shares, representing an increase of 0.80%. The firm increased its portfolio allocation in SLGN by 21.74% over the last quarter.

Silgan Holdings Background Information
(This description is provided by the company.)

Headquartered in Stamford, Connecticut, Silgan is a leading supplier of rigid packaging for consumer goods products with annual net sales of approximately $4.5 billion in 2019. Silgan operates 100 manufacturing facilities in North and South America, Europe and Asia. The Company is a leading supplier of metal containers in North America and Europe for food and general line products. The Company is also a leading worldwide supplier of metal and plastic closures and dispensing systems for food, beverage, health care, garden, personal care, home and beauty products. In addition, the Company is a leading supplier of plastic containers for shelf-stable food and personal care products in North America.

This story originally appeared on Fintel.