Matthews International Co. (NASDAQ:MATW – Get Free Report) announced a quarterly dividend on Wednesday, January 29th,RTT News reports. Shareholders of record on Monday, February 10th will be paid a dividend of 0.25 per share on Monday, February 24th. This represents a $1.00 dividend on an annualized basis and a yield of 3.53%.
Matthews International has increased its dividend by an average of 3.9% per year over the last three years and has raised its dividend every year for the last 13 years. Matthews International has a payout ratio of 48.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Matthews International to earn $2.15 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 46.5%.
Matthews International Stock Performance
Shares of NASDAQ MATW traded down $0.23 during midday trading on Wednesday, reaching $28.31. The company’s stock had a trading volume of 113,025 shares, compared to its average volume of 170,585. The company has a debt-to-equity ratio of 1.76, a current ratio of 1.45 and a quick ratio of 0.91. The stock has a market capitalization of $876.76 million, a P/E ratio of -14.67 and a beta of 1.14. The firm has a 50 day moving average price of $29.30 and a 200-day moving average price of $26.11. Matthews International has a 12-month low of $21.09 and a 12-month high of $34.41.
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.
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