Resources Connection, Inc. Plans Quarterly Dividend of $0.07 (NASDAQ:RGP)

Resources Connection, Inc. (NASDAQ:RGP) announced a quarterly dividend on Thursday, January 22nd. Stockholders of record on Friday, February 20th will be given a dividend of 0.07 per share on Friday, March 20th. This represents a c) dividend on an annualized basis and a dividend yield of 7.4%. The ex-dividend date is Friday, February 20th.

Resources Connection has decreased its dividend payment by an average of 0.1%per year over the last three years. Resources Connection has a payout ratio of 53.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Resources Connection to earn $1.09 per share next year, which means the company should continue to be able to cover its $0.28 annual dividend with an expected future payout ratio of 25.7%.

Resources Connection Stock Performance

Shares of Resources Connection stock traded up $0.02 on Wednesday, hitting $3.80. 35,882 shares of the company’s stock were exchanged, compared to its average volume of 465,791. Resources Connection has a 1 year low of $3.71 and a 1 year high of $8.00. The company has a 50-day simple moving average of $4.72 and a 200-day simple moving average of $4.76. The stock has a market capitalization of $127.13 million, a PE ratio of -0.94 and a beta of 0.48.

Resources Connection (NASDAQ:RGP) last posted its quarterly earnings results on Wednesday, January 7th. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.08. Resources Connection had a positive return on equity of 0.62% and a negative net margin of 26.13%.The business had revenue of $117.73 million during the quarter, compared to the consensus estimate of $119.97 million.

Analyst Ratings Changes

Separately, Wall Street Zen raised shares of Resources Connection from a “sell” rating to a “hold” rating in a report on Saturday, December 6th. Two analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $6.00.

Resources Connection Company Profile

Resources Connection, Inc (NASDAQ: RGP) is a publicly traded professional services firm that specializes in providing independent consulting and project-based teams to help organizations manage critical business challenges. Operating under the RGP brand, the company connects highly skilled consultants with clients seeking support in areas such as finance and accounting, legal and risk management, supply chain optimization, technology implementation, and digital transformation.

RGP’s consultants bring specific industry and functional expertise to engagements, working on a flexible basis that allows clients to scale resources up or down as needed.