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

Matthews International Co. (NASDAQ:MATW) declared a quarterly dividend on Wednesday, April 24th, Zacks reports. Shareholders of record on Monday, May 6th will be given a dividend of 0.24 per share on Monday, May 20th. This represents a $0.96 dividend on an annualized basis and a yield of 3.48%. The ex-dividend date is Friday, May 3rd.

Matthews International has raised its dividend payment by an average of 3.3% per year over the last three years and has increased its dividend every year for the last 29 years. Matthews International has a payout ratio of 35.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect Matthews International to earn $2.78 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 34.5%.

Matthews International Stock Performance

MATW stock opened at $27.55 on Friday. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.15 and a current ratio of 1.88. The stock has a market capitalization of $845.23 million, a price-to-earnings ratio of 25.99 and a beta of 1.12. Matthews International has a 1 year low of $25.42 and a 1 year high of $48.86. The stock’s fifty day moving average is $28.46 and its two-hundred day moving average is $32.85.

Matthews International (NASDAQ:MATW) last posted its earnings results on Thursday, February 1st. The company reported $0.37 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.37. The company had revenue of $449.99 million for the quarter, compared to analysts’ expectations of $437.77 million. Matthews International had a return on equity of 16.44% and a net margin of 1.77%. On average, research analysts predict that Matthews International will post 2.6 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on MATW shares. B. Riley cut their target price on Matthews International from $61.00 to $59.00 and set a “buy” rating on the stock in a research note on Monday, February 5th. StockNews.com cut Matthews International from a “buy” rating to a “hold” rating in a research note on Friday, February 9th.

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.