Intertape Polymer Group Inc. (ITP) to Issue Quarterly Dividend of $0.17 on September 30th

Intertape Polymer Group Inc. (TSE:ITP) declared a quarterly dividend on Wednesday, September 15th, TickerTech reports. Stockholders of record on Thursday, September 30th will be paid a dividend of 0.17 per share on Thursday, September 30th. This represents a $0.68 annualized dividend and a dividend yield of 2.33%. The ex-dividend date is Wednesday, September 15th.

Shares of TSE:ITP traded down C$0.01 during trading on Tuesday, hitting C$29.22. The stock had a trading volume of 104,964 shares, compared to its average volume of 196,191. Intertape Polymer Group has a 12 month low of C$14.30 and a 12 month high of C$32.88. The company has a market capitalization of C$1.73 billion and a PE ratio of 18.00. The firm’s fifty day moving average is C$29.06 and its 200 day moving average is C$28.81. The company has a quick ratio of 1.01, a current ratio of 2.38 and a debt-to-equity ratio of 173.63.

A number of research analysts recently weighed in on the company. BMO Capital Markets raised their price objective on Intertape Polymer Group to C$39.00 in a research report on Thursday, August 12th. National Bank Financial raised their price objective on Intertape Polymer Group to C$40.00 and gave the company an “outperform” rating in a research report on Thursday, August 12th. Cormark raised their price objective on Intertape Polymer Group to C$45.00 in a research report on Thursday, August 12th. TD Securities increased their target price on Intertape Polymer Group from C$38.00 to C$40.00 and gave the company a “na” rating in a research note on Monday, August 16th. Finally, Scotiabank increased their target price on Intertape Polymer Group from C$39.00 to C$40.00 in a research note on Monday, July 5th. Six analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of C$39.72.

In other Intertape Polymer Group news, Director Gregory Yull sold 160,000 shares of the firm’s stock in a transaction dated Thursday, August 12th. The stock was sold at an average price of C$31.33, for a total transaction of C$5,012,560.00. Following the sale, the director now directly owns 287,817 shares of the company’s stock, valued at C$9,016,874.88. Also, Senior Officer Douglas Nalette sold 16,640 shares of the firm’s stock in a transaction dated Friday, June 25th. The shares were sold at an average price of C$28.32, for a total value of C$471,291.39. Following the sale, the insider now directly owns 140,571 shares in the company, valued at C$3,981,364.32. Over the last ninety days, insiders sold 255,142 shares of company stock worth $7,878,086.

About Intertape Polymer Group

Intertape Polymer Group Inc, together with its subsidiaries, provides packaging and protective solutions for the industrial markets in North America, Europe, and internationally. The company offers pressure-sensitive and water-activated tapes; packaging equipment; industrial and performance specialty tapes, such as masking, duct, electrical, foil, process indicator, sheathing, sports, and reinforced filament tapes; protective packaging solutions, including inflatable systems, mailer products, bubble cushioning, paper void fills, thermal solutions, and protective foam roll stocks; stencil products; shrink films; stretch and lumber wraps; structure and geomembrane fabrics; non-manufactured flexible intermediate bulk containers; polyethylene and specialized polyolefin films; and engineered coated products for industrial and retail use.

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Dividend History for Intertape Polymer Group (TSE:ITP)

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