Matthews International Co. Plans Quarterly Dividend of $0.24 (NASDAQ:MATW)

Matthews International Co. (NASDAQ:MATW) announced a quarterly dividend on Wednesday, July 24th, NASDAQ reports. Shareholders of record on Monday, August 5th will be given a dividend of 0.24 per share on Monday, August 19th. This represents a $0.96 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date of this dividend is Monday, August 5th.

Matthews International has increased its dividend by an average of 3.3% per year over the last three years and has increased its dividend annually for the last 29 consecutive years. Matthews International has a payout ratio of 34.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Matthews International to earn $2.95 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 32.5%.

Matthews International Trading Up 5.7 %

Shares of NASDAQ MATW traded up $1.54 during midday trading on Thursday, reaching $28.79. The stock had a trading volume of 210,338 shares, compared to its average volume of 159,404. Matthews International has a twelve month low of $23.30 and a twelve month high of $48.86. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.12 and a current ratio of 1.82. The company’s 50 day moving average price is $26.55 and its 200 day moving average price is $28.54. The firm has a market cap of $884.14 million, a price-to-earnings ratio of 25.83 and a beta of 1.11.

Matthews International (NASDAQ:MATW) last released its earnings results on Thursday, May 2nd. The company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.24. Matthews International had a net margin of 1.77% and a return on equity of 16.75%. The business had revenue of $471.22 million for the quarter, compared to analyst estimates of $469.38 million. As a group, sell-side analysts expect that Matthews International will post 2.53 EPS for the current year.

About Matthews International

Matthews International Corporation provides brand solutions, memorialization products, and industrial technologies worldwide. It operates through three segments: Memorialization, Industrial Technologies, and SGK Brand Solutions. The Memorialization segment provides bronze and granite memorials, upright granite memorials and monuments, concrete burial vaults, cremation memorialization products, granite benches, flower vases, crypt plates and letters, cremation urns, niche units, cemetery features, and statues, as well as bronze plaques, letters, emblems, vases, lights and photo ceramics, granite monuments, mausoleums, crypts, and flush memorials.