The Marzetti Company (NASDAQ:MZTI) to Issue $1.00 Quarterly Dividend

The Marzetti Company (NASDAQ:MZTI) announced a quarterly dividend on Wednesday, February 11th, NASDAQ Dividends reports. Shareholders of record on Friday, March 6th will be given a dividend of 1.00 per share on Tuesday, March 31st. This represents a c) annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Friday, March 6th.

Marzetti has raised its dividend payment by an average of 0.1%annually over the last three years and has increased its dividend every year for the last 62 years. Marzetti has a payout ratio of 56.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect Marzetti to earn $7.31 per share next year, which means the company should continue to be able to cover its $4.00 annual dividend with an expected future payout ratio of 54.7%.

Marzetti Trading Up 0.9%

Marzetti stock opened at $166.32 on Wednesday. The business’s fifty day simple moving average is $164.49 and its two-hundred day simple moving average is $169.09. Marzetti has a 12 month low of $152.17 and a 12 month high of $195.62. The company has a market capitalization of $4.56 billion, a price-to-earnings ratio of 25.47 and a beta of 0.40.

Marzetti (NASDAQ:MZTI) last announced its quarterly earnings results on Tuesday, February 3rd. The company reported $2.15 earnings per share for the quarter, missing the consensus estimate of $2.23 by ($0.08). Marzetti had a net margin of 9.25% and a return on equity of 18.55%. The firm had revenue of $509.77 million for the quarter. The firm’s quarterly revenue was up 1.7% on a year-over-year basis. On average, equities research analysts predict that Marzetti will post 6.8 EPS for the current year.

About Marzetti

Lancaster Colony Corporation engages in the manufacturing and marketing of specialty food products for the retail and foodservice channels in the United States. It operates in two segments, Retail and Foodservice. The company offers frozen garlic bread under the New York BRAND Bakery; frozen Parkerhouse style yeast and dinner rolls under the Sister Schubert's brand; salad dressings under the Marzetti, Simply Dressed, Cardini's, and Girard's brands; vegetable and fruit dips under the Marzetti brand; croutons and salad toppings under the New York BRAND Bakery, Chatham Village, and Marzetti brands; and frozen pasta under the Marzetti Frozen Pasta brand.