Northern Technologies International Co. (NASDAQ:NTIC) to Issue $0.07 Quarterly Dividend

Northern Technologies International Co. (NASDAQ:NTIC) declared a quarterly dividend on Wednesday, October 16th, Zacks reports. Stockholders of record on Wednesday, October 30th will be paid a dividend of 0.07 per share by the specialty chemicals company on Wednesday, November 13th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date is Wednesday, October 30th.

Northern Technologies International has raised its dividend by an average of 62.7% per year over the last three years. Northern Technologies International has a dividend payout ratio of 35.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Northern Technologies International to earn $0.80 per share next year, which means the company should continue to be able to cover its $0.28 annual dividend with an expected future payout ratio of 35.0%.

Northern Technologies International Price Performance

Shares of NASDAQ:NTIC opened at $13.16 on Thursday. Northern Technologies International has a 1 year low of $10.08 and a 1 year high of $19.63. The stock’s fifty day moving average price is $12.56 and its 200-day moving average price is $14.72. The company has a market cap of $124.07 million, a P/E ratio of 28.61 and a beta of 0.61.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on NTIC shares. Northland Securities reissued an “outperform” rating and issued a $20.00 target price on shares of Northern Technologies International in a report on Friday, July 12th. StockNews.com downgraded Northern Technologies International from a “buy” rating to a “hold” rating in a report on Thursday, July 11th.

About Northern Technologies International

Northern Technologies International Corporation develops and markets rust and corrosion inhibiting solutions in North America, South America, Europe, Asia, the Middle East and internationally. It offers rust and corrosion inhibiting products, such as plastic and paper packaging, liquids, coatings, rust removers, cleaners, diffusers, and engineered solutions designed for the oil and gas industry under the ZERUST brand.