Macy’s, Inc. (NYSE:M) Raises Dividend to $0.19 Per Share

Macy’s, Inc. (NYSE:M) declared a quarterly dividend on Friday, February 27th. Shareholders of record on Friday, March 13th will be given a dividend of 0.1915 per share on Wednesday, April 1st. This represents a c) dividend on an annualized basis and a yield of 4.3%. The ex-dividend date of this dividend is Friday, March 13th. This is a 5.0% increase from Macy’s’s previous quarterly dividend of $0.18.

Macy’s has decreased its dividend payment by an average of 0.1%annually over the last three years and has increased its dividend annually for the last 4 consecutive years. Macy’s has a dividend payout ratio of 40.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Macy’s to earn $2.44 per share next year, which means the company should continue to be able to cover its $0.76 annual dividend with an expected future payout ratio of 31.1%.

Macy’s Stock Down 1.9%

Shares of M traded down $0.34 during mid-day trading on Wednesday, reaching $17.65. 2,429,134 shares of the stock traded hands, compared to its average volume of 7,096,200. The stock has a fifty day simple moving average of $21.11 and a 200 day simple moving average of $19.92. Macy’s has a 12-month low of $9.76 and a 12-month high of $24.41. The company has a quick ratio of 0.18, a current ratio of 1.25 and a debt-to-equity ratio of 0.56. The firm has a market cap of $4.69 billion, a price-to-earnings ratio of 10.48 and a beta of 1.51.

Macy’s Company Profile

Macy’s, Inc is a leading American omnichannel retailer operating under the Macy’s brand, as well as specialty divisions Bloomingdale’s and Bluemercury. The company’s retail portfolio encompasses full-line department stores, fashion-focused specialty outlets and a high-end beauty chain, offering consumers a wide array of apparel, footwear, accessories, cosmetics and home furnishings. Through its integrated network of physical stores and digital platforms, Macy’s seeks to deliver a seamless shopping experience that blends in-store service with online convenience.

The company’s product assortment spans men’s, women’s and children’s clothing, beauty and personal care products, housewares and home décor.