Eltek Ltd. (NASDAQ:ELTK) Announces $0.19 — Dividend

Eltek Ltd. (NASDAQ:ELTK) declared a — dividend on Wednesday, April 9th, Wall Street Journal reports. Shareholders of record on Tuesday, April 22nd will be paid a dividend of 0.19 per share by the technology company on Tuesday, April 29th. The ex-dividend date of this dividend is Tuesday, April 22nd.

Eltek has a payout ratio of 17.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Eltek to earn $1.02 per share next year, which means the company should continue to be able to cover its $0.22 annual dividend with an expected future payout ratio of 21.6%.

Eltek Stock Down 1.8 %

Shares of Eltek stock traded down $0.15 on Thursday, hitting $8.20. 182 shares of the company traded hands, compared to its average volume of 24,340. The company has a market cap of $49.77 million, a PE ratio of 9.65 and a beta of 0.58. Eltek has a 12-month low of $7.65 and a 12-month high of $12.47. The company has a 50-day moving average price of $9.91 and a 200 day moving average price of $10.56.

Analyst Ratings Changes

Separately, StockNews.com started coverage on shares of Eltek in a research note on Sunday. They set a “hold” rating on the stock.

About Eltek

Eltek Ltd. manufactures, markets, and sells printed circuit boards (PCBs) in Israel, Europe, North America, India, the Netherlands, and internationally. It offers a range of custom designed PCBs, including rigid, double-sided and multi-layer PCBs, and flexible circuitry boards. The company also provides high density interconnect, flex-rigid, and multi-layered boards.