NVE Corp (NVEC) Announces Quarterly Dividend of $1.00

NVE Corp (NASDAQ:NVEC) declared a quarterly dividend on Thursday, May 2nd, Wall Street Journal reports. Shareholders of record on Monday, May 13th will be paid a dividend of 1.00 per share by the semiconductor company on Friday, May 31st. This represents a $4.00 dividend on an annualized basis and a yield of 4.67%. The ex-dividend date is Friday, May 10th.

NVE has decreased its dividend by an average of 7.5% per year over the last three years. NVE has a payout ratio of 148.1% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.

NVE stock traded up $0.29 during trading hours on Thursday, reaching $85.69. 1 shares of the stock were exchanged, compared to its average volume of 16,480. The company has a market cap of $400.96 million, a P/E ratio of 30.06 and a beta of 1.26. NVE has a 52-week low of $80.03 and a 52-week high of $135.00.

NVE (NASDAQ:NVEC) last announced its quarterly earnings data on Wednesday, May 1st. The semiconductor company reported $0.59 EPS for the quarter. The company had revenue of $5.59 million during the quarter. NVE had a net margin of 54.81% and a return on equity of 17.21%.

A number of equities analysts have commented on NVEC shares. BidaskClub upgraded shares of NVE from a “hold” rating to a “buy” rating in a research report on Saturday, January 19th. ValuEngine upgraded shares of NVE from a “hold” rating to a “buy” rating in a research report on Monday, February 4th.

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NVE Company Profile

NVE Corporation develops and sells devices that use spintronics, a nanotechnology that utilizes electron spin to acquire, store, and transmit information. The company manufactures spintronic products, including sensors and couplers for use in acquiring and transmitting data. Its products comprise standard sensors to detect the presence of a magnetic or metallic material to determine position or speed primarily for the factory automation market; and custom and medical sensors for medical devices to replace electromechanical magnetic switches.

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Dividend History for NVE (NASDAQ:NVEC)

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