RPM International Hikes Quarterly Dividend by 5.3%
RPM International Inc. (RPM) has raised its quarterly common stock cash dividend by 5.3% to $0.40 per share. The dividend is payable on October 29, 2021 to shareholders of record as of October 18, 2021.
The company engages in the manufacturing, marketing and sale of coatings, sealants, building materials and related services. (See RPM International stock charts on TipRanks)
The recent hike marks 48th consecutive year of increased cash dividends paid to its shareholders. The company’s annual dividend of $1.60 per share now reflects a dividend yield of 2% based on Thursday’s closing price.
The Chairman and CEO of RPM International, Frank C. Sullivan, said, “Combined with an appreciating stock price, increasing the dividend enables us to consistently deliver long-term value and outperform the cumulative total return of the broader market.”
On October 7, Wells Fargo analyst Michael Sison maintained a Hold rating on RPM International with a price target of $90 (12.8% upside potential).
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Consensus among analysts is a Moderate Buy based on 3 Buys and 4 Holds. The average RPM International price target of $94.43 implies upside potential of 18.3%.
TipRanks’ Stock Investors tool shows that investors currently have a Very Positive stance on RPM International, with 17.2% of investors on TipRanks increasing their exposure to RPM stock over the past 30 days.
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