Richardson Electronics, Ltd. (NASDAQ:RELL) Plans $0.06 Quarterly Dividend

Richardson Electronics, Ltd. (NASDAQ:RELL) announced a quarterly dividend on Wednesday, July 24th, Zacks reports. Stockholders of record on Friday, August 9th will be paid a dividend of 0.06 per share by the technology company on Wednesday, August 28th. This represents a $0.24 annualized dividend and a dividend yield of 2.11%. The ex-dividend date of this dividend is Friday, August 9th.

Richardson Electronics has a dividend payout ratio of 26.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Richardson Electronics to earn $0.92 per share next year, which means the company should continue to be able to cover its $0.24 annual dividend with an expected future payout ratio of 26.1%.

Richardson Electronics Trading Up 2.4 %

Shares of NASDAQ RELL opened at $11.40 on Friday. The firm has a market capitalization of $162.79 million, a price-to-earnings ratio of 40.71, a PEG ratio of 1.60 and a beta of 0.95. Richardson Electronics has a one year low of $8.08 and a one year high of $14.76. The business has a fifty day simple moving average of $11.51 and a 200 day simple moving average of $10.31.

Analyst Upgrades and Downgrades

Separately, Northland Securities began coverage on shares of Richardson Electronics in a report on Monday, April 29th. They set an “outperform” rating and a $13.00 price objective for the company.

Insider Buying and Selling at Richardson Electronics

In other news, EVP Gregory J. Peloquin sold 21,206 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $10.53, for a total value of $223,299.18. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 32.50% of the company’s stock.

Richardson Electronics Company Profile

Richardson Electronics, Ltd. provides engineered solutions, power grid and microwave tube, and related consumables worldwide. The Power and Microwave Technologies segment manufactures electron tubes and RF, Microwave and power components for semiconductors; and manufacturing equipment, RF and wireless and industrial power applications, as well as various applications including broadcast transmission, CO2 laser cutting, diagnostic imaging, dielectric and induction heating, energy transfer, high voltage switching, plasma, power conversion, radar, and radiation oncology.