At the beginning of the week Lorillard Inc, the third largest maker of cigarettes in the USA, announced a quarterly dividend on its common stock in the amount of $0.55 per share, payable on September 10, 2013 to investors of record as of August 30, 2013.
Lorillard, Inc is the third largest cigarettes manufacturer in the USA which was founded in 1760,
Kent cigarette brand by Lorillard is second largest selling cigarette in the USA. Besides Kent, the Lorillard product line has other successful cigarette brands such as True, Newport, Maverick and Old Gold brand names. These brands include 41 product varieties which differ in taste, price, length, flavor, and packaging.
Lorillard, through its LOEC, Inc. subsidiary, is also is leader in making electronic cigarettes which became famous with its blu eCigs brand. Kent, Old Gold, True, Newport, Maverick, and blu eCigs are the registered trademarks of Lorillard and its divisions. Lorillard has its head office in Greensboro, North Carolina.
Shareholders of record on Friday, August 30th will be paid a dividend of $0.55 per share on Tuesday, September 10th. This is a $2.20 annualized dividend and a dividend yield of 5.18%.
Recently there were made a number of research reports on Lorillard company.
On July 26th analysts at Zacks gave the company a “neutral” rating on shares of Lorillard in a research note to investors,. At present they have a $47.00 price target on the stock.
In a research note to investors on Wednesday, July 10th, analysts at TheStreet gave a “buy” rating on shares of Lorillard. Finally, analysts at Goldman Sachs Group Inc in their research note to investors on Friday, June 28th. gave a “neutral” rating on shares of Lorillard. They now have a $48.00 price target on the stock, compared to previous which was $47.00.
Lorillard is the oldest constantly functional tobacco company in the USA and it remains most successful cigarette maker on the market.
Six investment analysts gave the company’s stock hold rating, ona gave sell rating and five gave a buy rating to the stock. At average, Lorillard has a rating of “Hold” and an average price target of $55.11.