Northern Technologies International Co. Announces Quarterly Dividend of $0.07 (NASDAQ:NTIC)

Northern Technologies International Co. (NASDAQ:NTIC) declared a quarterly dividend on Wednesday, October 16th, Zacks reports. Shareholders of record on Wednesday, October 30th will be paid a dividend of 0.07 per share by the specialty chemicals company on Wednesday, November 13th. This represents a $0.28 annualized dividend and a yield of 2.13%. The ex-dividend date of this dividend is Wednesday, October 30th.

Northern Technologies International has increased its dividend payment by an average of 62.7% per year over the last three years. Northern Technologies International has a payout ratio of 35.0% meaning its dividend is sufficiently covered by earnings. Analysts expect Northern Technologies International to earn $0.80 per share next year, which means the company should continue to be able to cover its $0.28 annual dividend with an expected future payout ratio of 35.0%.

Northern Technologies International Stock Performance

NASDAQ NTIC opened at $13.16 on Thursday. The company has a market cap of $124.07 million, a PE ratio of 28.61 and a beta of 0.61. The firm’s 50 day moving average price is $12.56 and its 200-day moving average price is $14.72. Northern Technologies International has a 52-week low of $10.08 and a 52-week high of $19.63.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Northland Securities reiterated an “outperform” rating and issued a $20.00 price target on shares of Northern Technologies International in a report on Friday, July 12th. StockNews.com lowered shares of Northern Technologies International from a “buy” rating to a “hold” rating in a research report on Thursday, July 11th.

About Northern Technologies International

Northern Technologies International Corporation develops and markets rust and corrosion inhibiting solutions 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.