International Flavors & Fragrances Inc (NYSE:IFF) Plans Dividend Increase – $0.75 Per Share

International Flavors & Fragrances Inc (NYSE:IFF) declared a quarterly dividend on Monday, August 5th, RTT News reports. Shareholders of record on Monday, September 23rd will be given a dividend of 0.75 per share by the specialty chemicals company on Friday, October 4th. This represents a $3.00 annualized dividend and a yield of 2.12%. This is an increase from International Flavors & Fragrances’s previous quarterly dividend of $0.73.

International Flavors & Fragrances has raised its dividend by an average of 12.4% annually over the last three years and has raised its dividend every year for the last 9 years. International Flavors & Fragrances has a dividend payout ratio of 46.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect International Flavors & Fragrances to earn $6.99 per share next year, which means the company should continue to be able to cover its $2.92 annual dividend with an expected future payout ratio of 41.8%.

IFF traded down $2.35 during midday trading on Monday, hitting $141.47. 1,361,130 shares of the company traded hands, compared to its average volume of 906,020. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.56 and a quick ratio of 1.58. The stock has a market cap of $15.25 billion, a P/E ratio of 22.50 and a beta of 0.75. International Flavors & Fragrances has a 52-week low of $121.85 and a 52-week high of $152.95. The stock’s 50 day moving average price is $145.04.

International Flavors & Fragrances (NYSE:IFF) last posted its quarterly earnings data on Monday, May 6th. The specialty chemicals company reported $1.57 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.52 by $0.05. The business had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.28 billion. International Flavors & Fragrances had a net margin of 7.29% and a return on equity of 12.74%. The company’s revenue was up 39.4% compared to the same quarter last year. During the same period last year, the firm posted $1.79 earnings per share. Equities analysts expect that International Flavors & Fragrances will post 6.3 EPS for the current year.

IFF has been the topic of several recent analyst reports. Zacks Investment Research raised shares of International Flavors & Fragrances from a “sell” rating to a “hold” rating and set a $151.00 price objective on the stock in a report on Monday. BNP Paribas cut shares of International Flavors & Fragrances from a “neutral” rating to an “underperform” rating in a research report on Friday, June 21st. ValuEngine cut shares of International Flavors & Fragrances from a “buy” rating to a “hold” rating in a research report on Tuesday, July 2nd. UBS Group raised their price objective on shares of International Flavors & Fragrances from $168.00 to $172.00 and gave the stock a “buy” rating in a research report on Tuesday, May 7th. Finally, Exane BNP Paribas cut shares of International Flavors & Fragrances to an “underperform” rating in a research report on Friday, June 21st. Four analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $150.13.

In related news, insider Nicolas Mirzayantz sold 3,472 shares of the firm’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $136.73, for a total transaction of $474,726.56. Following the completion of the sale, the insider now directly owns 45,858 shares in the company, valued at $6,270,164.34. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last 90 days, insiders have sold 10,508 shares of company stock valued at $1,496,115. 0.39% of the stock is owned by company insiders.

About International Flavors & Fragrances

International Flavors & Fragrances Inc, together with its subsidiaries, manufactures flavors and fragrances for use in various consumer products. It operates through three segments: Taste, Scent, and Frutarom. The Taste segment offers flavor compounds primarily to the food and beverage industries for use in consumer products, such as prepared foods, beverages, dairy, food, and sweet products.

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Dividend History for International Flavors & Fragrances (NYSE:IFF)

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