Northern Technologies International Co. (NASDAQ:NTIC) declared a quarterly dividend on Friday, April 23rd, Zacks reports. Stockholders of record on Wednesday, May 5th will be given a dividend of 0.065 per share by the specialty chemicals company on Wednesday, May 19th. This represents a $0.26 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date of this dividend is Tuesday, May 4th.
Northern Technologies International has raised its dividend payment by 30.0% over the last three years and has increased its dividend annually for the last 1 consecutive years. Northern Technologies International has a payout ratio of 46.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Northern Technologies International to earn $0.65 per share next year, which means the company should continue to be able to cover its $0.26 annual dividend with an expected future payout ratio of 40.0%.
NASDAQ NTIC opened at $15.55 on Friday. Northern Technologies International has a 12 month low of $5.64 and a 12 month high of $17.35. The company has a 50-day moving average of $15.16 and a 200-day moving average of $12.47. The company has a market cap of $141.58 million, a P/E ratio of -103.66 and a beta of 1.22.
NTIC has been the subject of a number of research reports. Zacks Investment Research upgraded Northern Technologies International from a “hold” rating to a “strong-buy” rating and set a $17.00 target price for the company in a report on Wednesday, April 14th. TheStreet cut Northern Technologies International from a “b-” rating to a “c” rating in a report on Friday, April 9th.
Northern Technologies International Company Profile
Northern Technologies International Corporation develops and markets rust and corrosion inhibiting products and services 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.
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