Matthews International Co. Plans Quarterly Dividend of $0.24 (NASDAQ:MATW)

Matthews International Co. (NASDAQ:MATW) announced a quarterly dividend on Wednesday, July 24th, NASDAQ reports. Investors of record on Monday, August 5th will be paid a dividend of 0.24 per share on Monday, August 19th. This represents a $0.96 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date is Monday, August 5th.

Matthews International has raised its dividend by an average of 3.3% per year over the last three years and has raised its dividend annually for the last 29 consecutive years. Matthews International has a payout ratio of 34.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect Matthews International to earn $2.95 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 32.5%.

Matthews International Stock Up 5.7 %

NASDAQ:MATW traded up $1.54 during mid-day trading on Thursday, hitting $28.79. The company had a trading volume of 210,338 shares, compared to its average volume of 159,404. Matthews International has a 1 year low of $23.30 and a 1 year high of $48.86. The business has a fifty day simple moving average of $26.55 and a 200-day simple moving average of $28.54. The company has a current ratio of 1.82, a quick ratio of 1.12 and a debt-to-equity ratio of 1.64. The firm has a market capitalization of $884.14 million, a price-to-earnings ratio of 25.83 and a beta of 1.11.

Matthews International (NASDAQ:MATW) last announced its earnings results on Thursday, May 2nd. The company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.45 by $0.24. The business had revenue of $471.22 million for the quarter, compared to the consensus estimate of $469.38 million. Matthews International had a return on equity of 16.75% and a net margin of 1.77%. Equities analysts forecast that Matthews International will post 2.53 earnings per share for the current fiscal year.

About Matthews International

Matthews International Corporation provides brand solutions, memorialization products, and industrial technologies worldwide. It operates through three segments: Memorialization, Industrial Technologies, and SGK Brand Solutions. The Memorialization segment provides bronze and granite memorials, upright granite memorials and monuments, concrete burial vaults, cremation memorialization products, granite benches, flower vases, crypt plates and letters, cremation urns, niche units, cemetery features, and statues, as well as bronze plaques, letters, emblems, vases, lights and photo ceramics, granite monuments, mausoleums, crypts, and flush memorials.