Matthews International Corporation (NASDAQ:MATW) to Issue $0.26 Quarterly Dividend

Matthews International Corporation (NASDAQ:MATW) announced a quarterly dividend on Wednesday, April 29th. Shareholders of record on Monday, May 11th will be given a dividend of 0.255 per share on Monday, May 25th. This represents a c) annualized dividend and a yield of 3.7%. The ex-dividend date is Monday, May 11th.

Matthews International has increased its dividend by an average of 0.0%annually over the last three years and has increased its dividend annually for the last 30 consecutive years. Matthews International has a payout ratio of 136.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Matthews International to earn $1.23 per share next year, which means the company should continue to be able to cover its $1.02 annual dividend with an expected future payout ratio of 82.9%.

Matthews International Price Performance

Matthews International stock opened at $27.75 on Thursday. Matthews International has a 52 week low of $18.61 and a 52 week high of $29.11. The company’s 50 day moving average price is $26.16 and its two-hundred day moving average price is $25.73. The company has a quick ratio of 0.91, a current ratio of 1.51 and a debt-to-equity ratio of 0.98. The stock has a market cap of $863.86 million, a P/E ratio of 39.00 and a beta of 1.12.

Matthews International (NASDAQ:MATW) last announced its earnings results on Wednesday, February 4th. The company reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.24). The business had revenue of $284.76 million during the quarter, compared to analysts’ expectations of $282.50 million. Matthews International had a return on equity of 5.95% and a net margin of 1.64%. On average, equities analysts predict that Matthews International will post 0.8 earnings per share for the current year.

About Matthews International

Matthews International Corporation (NASDAQ:MATW) is a diversified industrial company headquartered in Pittsburgh, Pennsylvania. The company operates through two primary business segments—Brand Solutions and Memorialization—offering a broad range of products and services designed to meet the needs of industrial manufacturers, brand marketers and the funeral industry worldwide.

In its Brand Solutions segment, Matthews International provides engraving and digital printing systems, automated finishing equipment, thermal management products and electronics assembly solutions.