Matthews International Co. Plans Quarterly Dividend of $0.24 (NASDAQ:MATW)

Matthews International Co. (NASDAQ:MATW) declared a quarterly dividend on Wednesday, April 24th, Zacks reports. Shareholders of record on Monday, May 6th will be paid a dividend of 0.24 per share on Monday, May 20th. This represents a $0.96 annualized dividend and a yield of 3.48%. The ex-dividend date of this dividend is Friday, May 3rd.

Matthews International has increased its dividend by an average of 3.3% per year over the last three years and has increased its dividend every year for the last 29 years. Matthews International has a payout ratio of 35.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect Matthews International to earn $2.78 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 34.5%.

Matthews International Trading Up 2.3 %

Shares of Matthews International stock opened at $27.55 on Friday. Matthews International has a 1 year low of $25.42 and a 1 year high of $48.86. The firm has a market cap of $845.23 million, a PE ratio of 25.99 and a beta of 1.12. The stock has a fifty day moving average price of $28.46 and a 200-day moving average price of $32.85. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.88 and a quick ratio of 1.15.

Matthews International (NASDAQ:MATW) last announced its earnings results on Thursday, February 1st. The company reported $0.37 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.37. Matthews International had a return on equity of 16.44% and a net margin of 1.77%. The firm had revenue of $449.99 million during the quarter, compared to analyst estimates of $437.77 million. Equities research analysts anticipate that Matthews International will post 2.6 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on MATW. StockNews.com lowered Matthews International from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. B. Riley decreased their price objective on Matthews International from $61.00 to $59.00 and set a “buy” rating for the company in a report on Monday, February 5th.

About Matthews International

Matthews International Corporation provides brand solutions, memorialization products, and industrial technologies worldwide. It operates through three segments: Memorialization, Industrial Technologies, and SGK Brand Solutions. The Memorialization segment provides bronze and granite memorials, upright granite memorials and monuments, concrete burial vaults, cremation memorialization products, granite benches, flower vases, crypt plates and letters, cremation urns, niche units, cemetery features, and statues, as well as bronze plaques, letters, emblems, vases, lights and photo ceramics, granite monuments, mausoleums, crypts, and flush memorials.