Stability and Investor Confidence: Tootsie Roll Industries Lowers Payouts with Growing Earnings
Portfolio Pulse from Benzinga Insights
Tootsie Roll Industries (NYSE:TR) is set to distribute a dividend of $0.09 per share on January 11, 2024, with an annualized yield of 1.05%. Despite a steady dividend payout, the company's dividend per share has not increased since 2020, remaining at $0.36. However, earnings per share have grown from $0.84 to $1.25 from 2020 to 2023, indicating a focus on business growth and potential for future dividend increases. Cal-Maine Foods (NASDAQ:CALM) has the highest annualized dividend yield in the industry at 5.65%.
January 11, 2024 | 3:05 pm
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NEGATIVE IMPACT
Cal-Maine Foods has the highest annualized dividend yield in the industry at 5.65%, which may draw investor attention away from Tootsie Roll Industries.
Cal-Maine Foods' higher dividend yield compared to Tootsie Roll Industries could make it more appealing to dividend investors, which might negatively affect investor interest in Tootsie Roll in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Tootsie Roll Industries maintains its dividend payout at $0.09 per share, with a stable yield and growing earnings, indicating potential for future dividend increases.
The stability of Tootsie Roll's dividend payout, combined with growing earnings, suggests financial health and may attract income-seeking investors, potentially leading to a positive short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100