Matthews International Co. (NASDAQ:MATW) to Issue $0.24 Quarterly Dividend

Matthews International Co. (NASDAQ:MATW) announced a quarterly dividend on Wednesday, July 24th, NASDAQ reports. Stockholders 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 annualized dividend and a dividend yield of 3.33%. The ex-dividend date of this dividend is Monday, August 5th.

Matthews International has increased its dividend payment 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 dividend payout ratio of 34.5% indicating that its dividend is sufficiently covered by earnings. Equities research 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 on Thursday, reaching $28.79. The company had a trading volume of 210,338 shares, compared to its average volume of 159,404. The company’s fifty day moving average is $26.55 and its 200-day moving average is $28.54. The firm has a market capitalization of $884.14 million, a price-to-earnings ratio of 25.83 and a beta of 1.11. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.12 and a current ratio of 1.82. Matthews International has a 1-year low of $23.30 and a 1-year high of $48.86.

Matthews International (NASDAQ:MATW) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.24. Matthews International had a return on equity of 16.75% and a net margin of 1.77%. The company had revenue of $471.22 million during the quarter, compared to analysts’ expectations of $469.38 million. On average, research analysts forecast that Matthews International will post 2.53 earnings per share for the current fiscal year.

Matthews International Company Profile

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.