The Marzetti Company (NASDAQ:MZTI – Get Free Report) declared a quarterly dividend on Wednesday, November 11th. Stockholders of record on Friday, December 4th will be paid a dividend of $1.05 per share on Thursday, December 31st. This represents a $4.20 annualized dividend and a dividend yield of 3.8%. The ex-dividend date is Friday, December 4th. This is a 5.0% increase from Marzetti’s previous quarterly dividend of $1.00.
Marzetti has raised its dividend 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 dividend payout ratio of 56.6% meaning its dividend is sufficiently covered by earnings.
Marzetti Stock Up 2.0%
Shares of NASDAQ:MZTI opened at $111.49 on Thursday. Marzetti has a one year low of $97.00 and a one year high of $176.26. The company has a 50 day moving average of $104.42 and a 200-day moving average of $122.81. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.53 and a quick ratio of 0.66. The stock has a market cap of $3.04 billion, a price-to-earnings ratio of 17.43 and a beta of 0.34.
Marzetti (NASDAQ:MZTI – Get Free Report) last announced its quarterly earnings data on Tuesday, November 3rd. The company reported $1.14 earnings per share for the quarter, missing the consensus estimate of $1.37 by ($0.23). Marzetti had a net margin of 9.06% and a return on equity of 16.46%. The business had revenue of $481.52 million during the quarter. During the same quarter in the prior year, the company earned $1.74 EPS. Marzetti’s revenue for the quarter was down 2.4% compared to the same quarter last year.
Marzetti Company Profile
The Marzetti Company (NASDAQ: MZTI), formerly Lancaster Colony Corporation, is a specialty food manufacturer headquartered in Columbus, Ohio. Its history traces to Teresa Marzetti’s Italian restaurant, which opened in Columbus in 1896; the company adopted The Marzetti Company name in 2023. The company makes branded and private-label products for grocery retailers and foodservice customers. Its offerings include salad dressings, dips, croutons, frozen garlic bread, rolls and other specialty breads and baked goods.
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