Karat Packaging Inc. (NASDAQ:KRT) Announces Quarterly Dividend of $0.47

Karat Packaging Inc. (NASDAQ:KRT) declared a quarterly dividend on Wednesday, November 4th. Shareholders of record on Thursday, November 19th will be given a dividend of $0.47 per share on Friday, November 27th. This represents a $1.88 annualized dividend and a yield of 3.5%. The ex-dividend date is Thursday, November 19th.

Karat Packaging has a dividend payout ratio of 102.2% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Karat Packaging to earn $2.25 per share next year, which means the company should continue to be able to cover its $1.88 annual dividend with an expected future payout ratio of 83.6%.

Karat Packaging Trading Up 2.8%

KRT opened at $53.63 on Thursday. The company has a quick ratio of 1.25, a current ratio of 2.25 and a debt-to-equity ratio of 0.13. Karat Packaging has a 52 week low of $20.61 and a 52 week high of $56.06. The business’s 50 day moving average is $51.81 and its two-hundred day moving average is $36.13. The firm has a market cap of $1.07 billion, a price-to-earnings ratio of 21.45, a price-to-earnings-growth ratio of 1.44 and a beta of 0.79.

Karat Packaging (NASDAQ:KRT) last posted its quarterly earnings data on Thursday, August 6th. The company reported $1.48 earnings per share for the quarter, beating the consensus estimate of $0.47 by $1.01. The business had revenue of $136.30 million during the quarter, compared to the consensus estimate of $135.46 million. Karat Packaging had a return on equity of 30.62% and a net margin of 10.18%. On average, research analysts predict that Karat Packaging will post 2.63 EPS for the current year.

About Karat Packaging

Karat Packaging Inc is a foodservice packaging company that manufactures and distributes disposable products for restaurants, cafés, convenience stores, supermarkets, institutional foodservice providers and other businesses. The company is headquartered in Chino, California, and serves customers primarily across North America through its distribution and manufacturing operations.

Its product portfolio includes paper and plastic cups, food containers, lids, cutlery, straws, gloves, napkins, bags and other supplies used for food preparation, packaging and takeout service.