Virco Manufacturing Corporation (NASDAQ:VIRC) Announces $0.03 Quarterly Dividend

Virco Manufacturing Corporation (NASDAQ:VIRC) announced a quarterly dividend on Thursday, December 4th. Shareholders of record on Friday, December 19th will be given a dividend of 0.025 per share on Friday, January 9th. This represents a c) dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Friday, December 19th.

Virco Manufacturing has a dividend payout ratio of 11.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect Virco Manufacturing to earn $1.31 per share next year, which means the company should continue to be able to cover its $0.10 annual dividend with an expected future payout ratio of 7.6%.

Virco Manufacturing Trading Up 1.7%

Shares of VIRC stock traded up $0.11 on Wednesday, hitting $6.72. The company had a trading volume of 1,663 shares, compared to its average volume of 80,309. Virco Manufacturing has a twelve month low of $6.01 and a twelve month high of $12.09. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.80 and a current ratio of 3.98. The firm has a market cap of $105.91 million, a P/E ratio of 24.89 and a beta of 0.22. The stock’s 50-day moving average is $7.03 and its two-hundred day moving average is $7.74.

Virco Manufacturing (NASDAQ:VIRC) last announced its earnings results on Monday, December 8th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.47 by ($0.55). The company had revenue of $47.64 million during the quarter, compared to the consensus estimate of $85.90 million. Virco Manufacturing had a net margin of 1.91% and a return on equity of 3.33%. On average, equities research analysts anticipate that Virco Manufacturing will post 1.54 earnings per share for the current fiscal year.

About Virco Manufacturing

Virco Mfg. Corporation engages in the design, production, and distribution of furniture in the United States and Canada. The company offers seating products, including 4-leg chairs, cantilever chairs, mobile task chairs and lab stools, tablet armchairs, steel-frame and floor rockers, series stools, hard plastic seating, folding and upholstered stack chairs, and plastic stack and upholstered ergonomic chairs.