Virco Manufacturing Corporation Plans Quarterly Dividend of $0.03 (NASDAQ:VIRC)

Virco Manufacturing Corporation (NASDAQ:VIRC) announced a quarterly dividend on Thursday, March 5th. Stockholders of record on Friday, March 20th will be paid a dividend of 0.025 per share on Friday, April 10th. This represents a c) annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Friday, March 20th.

Virco Manufacturing has a dividend payout ratio of 11.5% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Virco Manufacturing to earn $1.31 per share next year, which means the company should continue to be able to cover its $0.10 annual dividend with an expected future payout ratio of 7.6%.

Virco Manufacturing Trading Down 0.2%

Shares of VIRC opened at $6.26 on Wednesday. Virco Manufacturing has a twelve month low of $5.94 and a twelve month high of $10.62. The firm has a market capitalization of $98.66 million, a P/E ratio of 23.19 and a beta of 0.24. The company has a current ratio of 3.98, a quick ratio of 1.80 and a debt-to-equity ratio of 0.03. The stock’s fifty day simple moving average is $6.38 and its 200 day simple moving average is $6.91.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on VIRC. Wall Street Zen downgraded Virco Manufacturing from a “hold” rating to a “sell” rating in a report on Saturday, December 13th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Virco Manufacturing in a research report on Monday, December 29th. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has a consensus rating of “Hold”.

Virco Manufacturing Company Profile

Virco Manufacturing Corporation (NASDAQ: VIRC) is a leading American manufacturer of furniture, primarily serving the K-12 education market. Headquartered in Torrance, California, the company designs, produces and distributes a comprehensive range of classroom seating, student desks, tables and educational workstations. Over several decades, Virco has built a reputation for durable, cost-effective solutions tailored to the needs of schools, colleges and other institutional customers.

The company’s product portfolio includes molded plastic and wood-seat student chairs, modular and fixed-height desks, multi-purpose tables, computer furniture, laboratory stools and teacher furnishings.