Richardson Electronics, Ltd. (NASDAQ:RELL) Announces $0.06 Quarterly Dividend

Richardson Electronics, Ltd. (NASDAQ:RELL) declared a quarterly dividend on Wednesday, July 24th, Zacks reports. Stockholders of record on Friday, August 9th will be given a dividend of 0.06 per share by the technology company on Wednesday, August 28th. This represents a $0.24 annualized dividend and a dividend yield of 2.11%. The ex-dividend date is Friday, August 9th.

Richardson Electronics has a dividend payout ratio of 26.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Richardson Electronics to earn $0.92 per share next year, which means the company should continue to be able to cover its $0.24 annual dividend with an expected future payout ratio of 26.1%.

Richardson Electronics Price Performance

NASDAQ:RELL opened at $11.40 on Friday. Richardson Electronics has a one year low of $8.08 and a one year high of $14.76. The firm’s 50 day simple moving average is $11.51 and its 200 day simple moving average is $10.31. The company has a market cap of $162.79 million, a PE ratio of 40.71, a P/E/G ratio of 1.60 and a beta of 0.95.

Analyst Upgrades and Downgrades

Separately, Northland Securities assumed coverage on shares of Richardson Electronics in a research note on Monday, April 29th. They issued an “outperform” rating and a $13.00 price objective on the stock.

Insider Activity

In related news, EVP Gregory J. Peloquin sold 21,206 shares of Richardson Electronics stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $10.53, for a total value of $223,299.18. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 32.50% of the company’s stock.

About Richardson Electronics

Richardson Electronics, Ltd. provides engineered solutions, power grid and microwave tube, and related consumables worldwide. The Power and Microwave Technologies segment manufactures electron tubes and RF, Microwave and power components for semiconductors; and manufacturing equipment, RF and wireless and industrial power applications, as well as various applications including broadcast transmission, CO2 laser cutting, diagnostic imaging, dielectric and induction heating, energy transfer, high voltage switching, plasma, power conversion, radar, and radiation oncology.