PriceSmart, Inc. (NASDAQ:PSMT) to Issue Dividend of $0.70

PriceSmart, Inc. (NASDAQ:PSMT) declared a dividend on Thursday, February 5th. Shareholders of record on Monday, August 17th will be given a dividend of 0.70 per share on Monday, August 31st. This represents a yield of 89.0%. The ex-dividend date is Monday, August 17th.

PriceSmart has raised its dividend by an average of 0.1%per year over the last three years and has increased its dividend annually for the last 4 consecutive years. PriceSmart has a payout ratio of 21.2% indicating that its dividend is sufficiently covered by earnings.

PriceSmart Stock Performance

Shares of PSMT stock traded up $5.51 during mid-day trading on Friday, hitting $156.81. 195,271 shares of the stock were exchanged, compared to its average volume of 235,243. The stock’s fifty day simple moving average is $132.39 and its two-hundred day simple moving average is $121.26. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.55 and a current ratio of 1.33. PriceSmart has a 12-month low of $81.25 and a 12-month high of $157.86. The stock has a market capitalization of $4.83 billion, a price-to-earnings ratio of 32.00 and a beta of 0.75.

PriceSmart (NASDAQ:PSMT) last announced its earnings results on Wednesday, January 7th. The company reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.28 by $0.01. The firm had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.36 billion. PriceSmart had a return on equity of 12.20% and a net margin of 2.79%.The business’s revenue was up 9.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.21 EPS. On average, analysts forecast that PriceSmart will post 5.28 EPS for the current year.

About PriceSmart

PriceSmart, Inc (NASDAQ: PSMT) is a U.S.-based retailer specializing in membership warehouse clubs. Founded in 1993, the company operates under a business model that offers bulk quantities of goods at discounted prices to individuals and businesses that purchase annual memberships. PriceSmart’s value proposition centers on low-cost operations, high-volume purchasing, and a no-frills shopping environment designed to pass savings directly to its members.

The company’s product assortment covers a broad range of merchandise categories, including groceries and fresh produce, household essentials, electronics, appliances, office supplies, furniture, and health and beauty items.