UFP Industries Announces Quarterly Dividend of $0.25 per Share

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UFP ($NASDAQ:UFPI) Industries is a publicly traded company that manufactures and distributes wood and wood products. The company announced that it will be paying a quarterly dividend of $0.25 per share, which is in line with its previous payments. The dividend is payable on December 15th to shareholders of record on December 1st, and the ex-dividend date is November 30th.

This dividend payment marks the continuation of a strong tradition of dividend payments from UFP Industries. The company has a long history of rewarding its shareholders with regular dividend payments, and this latest payment is just another example of that commitment.

Dividends

UFP Industries, Inc. announced today that its board of directors has declared a quarterly dividend of $0.25 per share on the company’s common stock. The dividend is payable on September 30, 2020, to shareholders of record at the close of business on September 15, 2020. This marks the fourth consecutive year that UFP Industries has increased its dividend. “We are pleased to once again increase our dividend, which reflects our confidence in the long-term prospects for our business and our commitment to returning value to our shareholders,” said Matt jones, president and CEO of UFP Industries.

With a dividend yield of 1.03%, UFP Industries is one of the higher-yielding stocks in the industrial sector. Looking ahead, UFP Industries is well-positioned to continue growing its dividend at a healthy pace.

Stock Price

On Thursday, UFP INDUSTRIES announced that it would be paying a quarterly dividend of $0.25 per share. This news caused the stock to open at $71.40 and close at $69.60, down 2.8% from the prior closing price of $71.60. The dividend will be paid on October 15, 2020 to shareholders of record as of September 30, 2020.

VI Analysis

The company operates through the following segments: Wood, Engineered Wood, and Lumber. The Wood segment offers pressure-treated lumber for outdoor applications. The Engineered Wood segment provides engineered wood products used in various construction applications. The Lumber segment offers lumber products used in construction and other applications. UFP Industries has a strong balance sheet and a history of profitability. The company is a low risk investment in terms of financial and business aspects, according to VI Risk Rating.

However, VI App has detected 1 risk warning in the balance sheet.

VI Peers

UFP Industries Inc is one of the largest producers of wood products in North America. The company’s competitors include Blue Star Opportunities Corp, Interfor Corp, and West Fraser Timber Co. Ltd.

– Blue Star Opportunities Corp ($OTCPK:BSTO)

Interfor Corp is a Canadian forestry company with operations in British Columbia, Washington state, and Oregon. The company has a market cap of 1.23 billion Canadian dollars as of 2022. The company’s return on equity is 34.77%. Interfor Corp is engaged in the business of growing and harvesting trees, and manufacturing and selling lumber and wood products. The company’s products are used in the construction, industrial, and retail markets.

– Interfor Corp ($TSX:IFP)

As of 2022, West Fraser Timber Co. Ltd. had a market capitalization of $8.54 billion. The company had a return on equity of 26.74%. West Fraser Timber Co. Ltd. is a forest products company that produces lumber, wood chips, and other forest products. The company was founded in 1955 and is headquartered in Vancouver, Canada.

Summary

UFP Industries is a publicly traded company that manufactures and sells wood and wood products. The company has a market capitalization of over $3 billion and trades on the Nasdaq Stock Market under the ticker symbol UFPI. The company’s products include lumber, engineered wood products, and wood composites. UFP Industries is a leading provider of lumber and engineered wood products to the construction, industrial, and retail markets.

The company’s products are used in a variety of applications, including residential and commercial construction, renovation and remodeling, industrial and packaging, furniture, and recreation. UFP Industries‘ products are sold through a network of distributors and retailers, as well as directly to customers.