Tupperware Boosts Dividend by 72%; Q4 Profit Falls 14%, but Adjusted Net Beats View (TUP)

Tupperware Boosts Dividend by 72%; Q4 Profit Falls 14%, but Adjusted Net Beats View (TUP)

RSS

Kitchen product maker Tupperware Brands Corporation (TUP) on Tuesday reported a dip in fourth quarter net income because of one-time items; however, adjusted earnings beat the consensus view, and the company also boosted its quarterly dividend by more than 72%.

The Orlando, Florida-based company reported a fourth quarter profit of $74.5 million, or $1.34 per share, down from $86.9 million, or $1.50 per share, earned in quarter four of 2011. Adjusting for one time items, EPS came in at $1.71. Analysts on Wall Street were expecting TUP to earn $1.68 per share, according to Thomson Reuters.

Sales increase +5% from $676.1 million in 2011 to $711.0 million in the fourth quarter of 2012. This total beat the Wall Street view, as analysts expected revenue to come in at $707.02 million.

Looking ahead to the first quarter of 2013, the company is projecting earnings of $1.09 to $1.14 per share. Analysts are expecting earnings to be $1.14 per share.

The company also declared its latest quarterly dividend, which will be payable on April 5, 2013 with an ex-dividend date of March 18, 2013. The dividend paid will be 62 cents per share, a 72.2% increase from the prior quarterly dividend of 36 cents per share.

Tupperware shares were up $3.67, or +5.22%, during pre-market trading on Tuesday. The stock is up +9.79% over the past year.

The Bottom Line
Shares of Tupperware (TUP) have a 3.53% dividend yield based on last night’s closing price of $70.33.

Tupperware Brands Corporation (TUP) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

Free Updates

Join over 100,000 investors who get the latest news from Dividend.com.

Best Dividend Stocks

Looking for stocks that are poised for growth and pay solid dividends? Visit our list of the:

Best Dividend Stocks

Partner Center

Best CD Rates

Sitting on some extra cash and looking for the most current and profitable CD Rates?

Get The Best CD Rates

14 Day Free Trial

Earn more from your dividend portfolio within the next 14 days.

Sign Up Today