Manning and Napier Inc (NYSE:MN) announced a quarterly dividend on Friday, October 26th, Wall Street Journal reports. Stockholders of record on Tuesday, January 15th will be paid a dividend of 0.02 per share by the asset manager on Friday, February 1st. This represents a $0.08 dividend on an annualized basis and a dividend yield of 4.49%. The ex-dividend date is Monday, January 14th.
Manning and Napier has decreased its dividend by an average of 14.5% annually over the last three years. Manning and Napier has a dividend payout ratio of 152.4% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Manning and Napier to earn $0.12 per share next year, which means the company may not be able to cover its $0.32 annual dividend with an expected future payout ratio of 266.7%.
Manning and Napier stock traded down $0.28 during trading on Friday, reaching $1.78. The company had a trading volume of 422,693 shares, compared to its average volume of 66,867. Manning and Napier has a 12-month low of $1.67 and a 12-month high of $4.35. The company has a market cap of $38.03 million, a price-to-earnings ratio of 4.48 and a beta of 1.20.
A number of equities research analysts recently issued reports on MN shares. Zacks Investment Research upgraded shares of Manning and Napier from a “sell” rating to a “hold” rating in a report on Tuesday, September 4th. ValuEngine downgraded shares of Manning and Napier from a “sell” rating to a “strong sell” rating in a report on Tuesday, October 2nd.
About Manning and Napier
Manning & Napier, Inc is publicly owned investment manager. It provides its services to net worth individuals and institutions, including 401(k) plans, pension plans, taft-hartley plans, endowments and foundations. The firm manages separate client-focused equity and fixed income portfolios. It invests in the public equity and fixed income markets of the United States.
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