RPM (NYSE: RPM) said on Wednesday that its Board of Directors had authorized a regular quarterly cash dividend of $0.46 per share of common stock.

The dividend was kept unchanged from the previous quarterly dividend payment.

The dividend will be paid on July 31st to shareholders of record as of the close of business on July 17th 2024, the company said.

The last cash dividend raise of 10% in October 2023 has marked RPM’s 50th successive year of increased dividends paid to shareholders.

Stock Performance

The shares of RPM International Inc (RPM) closed 0.98% ($1.04) higher at $107.26 in New York on Wednesday, as they extended the gain from the previous market session.

The company’s total market cap now stands at $13.811 billion.

The shares of RPM International Inc (RPM) went up 14.55% in 2023, compared with a 10.99% gain for the benchmark index, NYSE Composite (NYA).

The company’s shares have retreated 3.91% so far this year.

Analyst stock price forecast and recommendation

According to TipRanks, at least 6 out of 11 surveyed investment analysts had rated RPM International Inc’s stock as “Buy”, while 5 – as “Hold”. The median price target on the stock stands at $122.91, which translates into a 14.59% upside compared to the closing price on Wednesday.

The high point of the analyst forecast range stands at $136.00.

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