Matthews International Co. (NASDAQ:MATW) Plans Quarterly Dividend of $0.24

Matthews International Co. (NASDAQ:MATW) announced a quarterly dividend on Wednesday, April 24th, Zacks reports. Investors of record on Monday, May 6th will be paid a dividend of 0.24 per share on Monday, May 20th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.56%. The ex-dividend date of this dividend is Friday, May 3rd.

Matthews International has increased its dividend payment by an average of 3.3% per year over the last three years and has raised its dividend every year for the last 29 years. Matthews International has a dividend payout ratio of 35.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect Matthews International to earn $2.78 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 34.5%.

Matthews International Trading Down 2.1 %

Shares of NASDAQ MATW opened at $26.98 on Wednesday. The stock’s 50 day moving average price is $28.40 and its two-hundred day moving average price is $32.49. Matthews International has a 52-week low of $25.42 and a 52-week high of $48.86. The stock has a market capitalization of $827.75 million, a P/E ratio of 25.45 and a beta of 1.12. The company has a quick ratio of 1.15, a current ratio of 1.88 and a debt-to-equity ratio of 1.69.

Matthews International (NASDAQ:MATW) last released its quarterly earnings data on Thursday, February 1st. The company reported $0.37 earnings per share for the quarter, hitting the consensus estimate of $0.37. Matthews International had a net margin of 1.77% and a return on equity of 16.44%. The firm had revenue of $449.99 million for the quarter, compared to analyst estimates of $437.77 million. On average, analysts anticipate that Matthews International will post 2.6 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. StockNews.com downgraded shares of Matthews International from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. B. Riley decreased their target price on Matthews International from $61.00 to $59.00 and set a “buy” rating for the company in a research note on Monday, February 5th.

About Matthews International

Matthews International Corporation provides brand solutions, memorialization products, and industrial technologies worldwide. It operates through three segments: Memorialization, Industrial Technologies, and SGK Brand Solutions. The Memorialization segment provides bronze and granite memorials, upright granite memorials and monuments, concrete burial vaults, cremation memorialization products, granite benches, flower vases, crypt plates and letters, cremation urns, niche units, cemetery features, and statues, as well as bronze plaques, letters, emblems, vases, lights and photo ceramics, granite monuments, mausoleums, crypts, and flush memorials.