Methode Electronics, Inc. (NYSE:MEI) Announces Quarterly Dividend of $0.14

Methode Electronics, Inc. (NYSE:MEI) declared a quarterly dividend on Thursday, June 13th, NASDAQ reports. Investors of record on Friday, July 12th will be given a dividend of 0.14 per share by the electronics maker on Friday, July 26th. This represents a $0.56 annualized dividend and a yield of 5.93%. The ex-dividend date is Friday, July 12th.

Methode Electronics has raised its dividend payment by an average of 8.4% annually over the last three years. Methode Electronics has a payout ratio of 56.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Methode Electronics to earn ($0.04) per share next year, which means the company may not be able to cover its $0.56 annual dividend with an expected future payout ratio of -1,400.0%.

Methode Electronics Price Performance

Shares of Methode Electronics stock opened at $9.44 on Thursday. The stock has a market cap of $334.08 million, a price-to-earnings ratio of -5.76 and a beta of 0.72. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.85 and a current ratio of 2.74. The stock has a 50 day moving average price of $10.89 and a 200-day moving average price of $15.16. Methode Electronics has a one year low of $8.54 and a one year high of $34.04.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group initiated coverage on shares of Methode Electronics in a research note on Tuesday, April 9th. They set a “hold” rating and a $12.00 price objective for the company.

Methode Electronics Company Profile

Methode Electronics, Inc designs, engineers, and produces mechatronic products worldwide. It operates through four segments: Automotive, Industrial, Interface, and Medical. The Automotive segment supplies electronic and electro-mechanical devices, and related products to automobile original equipment manufacturers directly or through their tiered suppliers.