Richardson Electronics, Ltd. (RELL) to Issue Quarterly Dividend of $0.06 on August 28th

Richardson Electronics, Ltd. (NASDAQ:RELL) announced a quarterly dividend on Wednesday, July 24th, Zacks reports. Investors 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 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date of this dividend is Friday, August 9th.

Richardson Electronics has a dividend payout ratio of 26.1% meaning its dividend is sufficiently covered by earnings. Research 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 Stock Up 2.4 %

Richardson Electronics stock opened at $11.40 on Friday. Richardson Electronics has a 52-week low of $8.08 and a 52-week high of $14.76. The firm has a market capitalization of $162.79 million, a price-to-earnings ratio of 40.71, a PEG ratio of 1.60 and a beta of 0.95. The firm has a 50-day moving average price of $11.51 and a two-hundred day moving average price of $10.31.

Insider Activity at Richardson Electronics

In related news, EVP Gregory J. Peloquin sold 21,206 shares of the stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $10.53, for a total value of $223,299.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 32.50% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Northland Securities initiated coverage on Richardson Electronics in a research report on Monday, April 29th. They set an “outperform” rating and a $13.00 price objective for the company.

Richardson Electronics Company Profile

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.