Smiths News plc (LON:SNWS) to Issue Dividend Increase – GBX 5.40 Per Share

Smiths News plc (LON:SNWS) announced a dividend on Wednesday, November 5th,Upcoming Dividends.Co.Uk reports. Shareholders of record on Thursday, January 9th will be given a dividend of GBX 5.40 ($0.07) per share on Thursday, February 6th. This represents a yield of 9.47%. The ex-dividend date is Thursday, January 9th. This is an increase from Smiths News’s previous dividend of $1.75. The official announcement can be seen at this link.

Smiths News Stock Up 1.4 %

Shares of Smiths News stock opened at GBX 69.38 ($0.87) on Tuesday. The business has a 50 day moving average of GBX 62.54 and a 200 day moving average of GBX 59.68. Smiths News has a 52 week low of GBX 45.20 ($0.57) and a 52 week high of GBX 71 ($0.89). The company has a market cap of £164.49 million, a PE ratio of 770.89, a P/E/G ratio of 0.29 and a beta of 0.83.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group reaffirmed a “buy” rating and set a GBX 95 ($1.19) target price on shares of Smiths News in a research note on Tuesday, November 5th.

Insider Activity at Smiths News

In other news, insider Deborah Rabey acquired 20,663 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The shares were bought at an average cost of GBX 63 ($0.79) per share, with a total value of £13,017.69 ($16,286.36). Also, insider Jonathan Bunting sold 1,183,423 shares of Smiths News stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of GBX 61 ($0.76), for a total transaction of £721,888.03 ($903,150.29). Insiders sold a total of 1,993,578 shares of company stock valued at $121,608,258 in the last three months. Company insiders own 13.12% of the company’s stock.

About Smiths News

In 1792 we started delivering the nation’s newspapers. Today, we’re proud to be the UK’s largest wholesaler of newspapers and magazines, serving 24,000 retailers from superstores to corner shops.

Service and efficiency put us at the forefront of our industry and with 55% market share we are the leading player in one of the world’s fastest-moving supply chains.