Spectrum Brands Holdings Inc to Issue Quarterly Dividend of $0.42 (NYSE:SPB)

Spectrum Brands Holdings Inc (NYSE:SPB) announced a quarterly dividend on Tuesday, July 28th, Zacks reports. Stockholders of record on Tuesday, August 25th will be given a dividend of 0.42 per share on Tuesday, September 22nd. This represents a $1.68 annualized dividend and a dividend yield of 3.26%. The ex-dividend date of this dividend is Monday, August 24th.

Spectrum Brands has raised its dividend payment by an average of 10.5% per year over the last three years. Spectrum Brands has a dividend payout ratio of 58.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Spectrum Brands to earn $3.07 per share next year, which means the company should continue to be able to cover its $1.68 annual dividend with an expected future payout ratio of 54.7%.

Shares of SPB traded down $0.66 during trading hours on Thursday, reaching $51.52. 5,157 shares of the stock traded hands, compared to its average volume of 312,720. Spectrum Brands has a 52 week low of $19.59 and a 52 week high of $64.72. The stock has a fifty day simple moving average of $46.63 and a 200 day simple moving average of $47.75. The company has a market cap of $2.22 billion, a price-to-earnings ratio of -10.19, a PEG ratio of 1.44 and a beta of 1.91. The company has a current ratio of 2.39, a quick ratio of 1.53 and a debt-to-equity ratio of 2.45.

Spectrum Brands (NYSE:SPB) last posted its quarterly earnings results on Thursday, April 30th. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.58. The company had revenue of $937.80 million during the quarter, compared to the consensus estimate of $868.48 million. Spectrum Brands had a positive return on equity of 10.92% and a negative net margin of 6.31%. The firm’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.26 EPS. Analysts predict that Spectrum Brands will post 2.9 earnings per share for the current fiscal year.

Several equities analysts have recently issued reports on the company. Zacks Investment Research raised Spectrum Brands from a “sell” rating to a “hold” rating and set a $51.00 target price on the stock in a research note on Friday, July 17th. Deutsche Bank increased their target price on Spectrum Brands from $47.00 to $53.00 and gave the stock a “hold” rating in a research note on Thursday, July 16th. Finally, BMO Capital Markets decreased their price objective on shares of Spectrum Brands from $12.00 to $10.00 and set a “market perform” rating for the company in a report on Thursday, April 2nd. One analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $44.86.

About Spectrum Brands

Spectrum Brands Holdings, Inc operates as a branded consumer products company worldwide. The company's Hardware & Home Improvement segment offers hardware products under the National Hardware, Stanley, and FANAL brands; locksets and door hardware under the Kwikset, Weiser, Baldwin, EZSET, and Tell brands; and plumbing products under the Pfister brand.

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Dividend History for Spectrum Brands (NYSE:SPB)

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