Bio-Techne Corp (NASDAQ:TECH) Shares Set to Pay Quarterly Dividend of $0.08

Bio-Techne Corp (NASDAQ:TECH) announced a quarterly dividend on Tuesday, November 3rd. Investors of record on Friday, November 13th will be paid a dividend of $0.08 per share by the biotechnology company on Monday, November 23rd. This represents a $0.32 annualized dividend and a yield of 0.4%. The ex-dividend date is Friday, November 13th. This is a 87.7% decrease from Bio-Techne’s previous quarterly dividend of $0.65.

Bio-Techne has a dividend payout ratio of 15.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Bio-Techne to earn $1.97 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 16.2%.

Bio-Techne Trading Up 0.1%

Shares of TECH stock traded up $0.07 on Wednesday, hitting $72.73. 4,206,587 shares of the company’s stock traded hands, compared to its average volume of 3,294,162. The company’s fifty day simple moving average is $72.46 and its 200 day simple moving average is $63.33. Bio-Techne has a one year low of $43.19 and a one year high of $72.83. The stock has a market capitalization of $11.42 billion, a price-to-earnings ratio of 63.24, a P/E/G ratio of 5.27 and a beta of 1.29. The company has a debt-to-equity ratio of 0.09, a quick ratio of 3.35 and a current ratio of 4.55.

Bio-Techne (NASDAQ:TECH) last announced its quarterly earnings data on Wednesday, August 12th. The biotechnology company reported $0.52 EPS for the quarter, meeting the consensus estimate of $0.52. Bio-Techne had a return on equity of 13.23% and a net margin of 14.97%. The business had revenue of $321.19 million during the quarter, compared to analyst estimates of $314.63 million. During the same quarter last year, the firm posted $0.53 earnings per share. The company’s revenue for the quarter was up 1.3% on a year-over-year basis. Equities analysts forecast that Bio-Techne will post 1.75 EPS for the current year.

Bio-Techne Company Profile

Bio-Techne Corporation is a life sciences company that develops and supplies research and diagnostic products for biotechnology, pharmaceutical, academic, clinical and other laboratory customers. The company supports biological research, drug discovery and development, and diagnostic testing through a portfolio of reagents, instruments and analytical technologies.

Its products include proteins, antibodies, immunoassays, flow cytometry reagents, molecular biology tools and cell culture materials.