TESSCO Technologies, Inc. (TESS) to Issue Quarterly Dividend of $0.20 on February 27th

TESSCO Technologies, Inc. (NASDAQ:TESS) announced a quarterly dividend on Friday, January 25th, Wall Street Journal reports. Shareholders of record on Wednesday, February 13th will be given a dividend of 0.20 per share by the communications equipment provider on Wednesday, February 27th. This represents a $0.80 annualized dividend and a yield of 5.26%. The ex-dividend date of this dividend is Tuesday, February 12th.

TESSCO Technologies has a payout ratio of 142.9% 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 TESSCO Technologies to earn $0.77 per share next year, which means the company may not be able to cover its $0.80 annual dividend with an expected future payout ratio of 103.9%.

TESS stock opened at $15.20 on Monday. The company has a market capitalization of $128.49 million, a price-to-earnings ratio of 27.64 and a beta of 1.39. TESSCO Technologies has a 12 month low of $10.20 and a 12 month high of $24.85.

TESSCO Technologies (NASDAQ:TESS) last posted its earnings results on Thursday, January 24th. The communications equipment provider reported $0.32 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.13. The company had revenue of $152.30 million during the quarter, compared to the consensus estimate of $161.20 million. TESSCO Technologies had a net margin of 0.93% and a return on equity of 5.26%. On average, sell-side analysts predict that TESSCO Technologies will post 0.76 EPS for the current fiscal year.

Several research firms have commented on TESS. William Blair reissued a “buy” rating on shares of TESSCO Technologies in a research report on Tuesday, November 20th. ValuEngine downgraded shares of TESSCO Technologies from a “hold” rating to a “sell” rating in a research report on Tuesday, February 5th. TheStreet raised shares of TESSCO Technologies from a “c+” rating to a “b” rating in a research report on Friday, February 1st. Finally, Zacks Investment Research raised shares of TESSCO Technologies from a “hold” rating to a “buy” rating and set a $17.00 target price for the company in a research report on Saturday, January 26th.

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TESSCO Technologies Company Profile

TESSCO Technologies Incorporated architects and delivers products and value chain solutions to support wireless systems in the United States. The company offers base station infrastructure products, including base station antennas, cable and transmission lines, small towers, lightning protection devices, connectors, power systems, enclosures, grounding, jumpers, miscellaneous hardware products, and mobile antennas to build, repair, and upgrade wireless broadband systems, as well as program management, connector installation, custom jumper assembly, site kitting, and logistics integration services.

Further Reading: How to execute a trade ex-dividend strategy?

Dividend History for TESSCO Technologies (NASDAQ:TESS)

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