Virco Manufacturing Corporation (VIRC) to Issue Quarterly Dividend of $0.03 on October 9th

Virco Manufacturing Corporation (NASDAQ:VIRC) declared a quarterly dividend on Thursday, September 3rd. Stockholders of record on Friday, September 18th will be given a dividend of 0.025 per share on Friday, October 9th. This represents a c) dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is Friday, September 18th.

Virco Manufacturing has a payout ratio of 11.5% indicating that its dividend is sufficiently covered by earnings.

Virco Manufacturing Price Performance

Virco Manufacturing stock opened at $6.18 on Wednesday. The business’s fifty day moving average is $6.07 and its two-hundred day moving average is $6.10. The firm has a market cap of $97.40 million, a P/E ratio of -38.62 and a beta of 0.20. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.43 and a current ratio of 2.53. Virco Manufacturing has a 52 week low of $5.16 and a 52 week high of $8.23.

Virco Manufacturing (NASDAQ:VIRC) last announced its earnings results on Friday, September 4th. The company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.48. The company had revenue of $87.47 million during the quarter, compared to the consensus estimate of $72.10 million. Virco Manufacturing had a negative net margin of 1.31% and a negative return on equity of 2.32%.

About Virco Manufacturing

Virco Manufacturing Corporation designs, manufactures and distributes furniture and equipment primarily for the education market. Its product portfolio includes student desks and chairs, classroom tables, activity tables, teacher furniture, computer and technology furniture, storage products, and soft-seating solutions.

The company also serves other institutional and commercial customers, including government agencies, businesses, hospitality organizations and community facilities. Virco sells its products through a combination of direct sales and independent dealers, with a focus on schools and other organizations throughout the United States.

Virco was founded in 1950 by Julian Virtue and has developed into a long-standing U.S.