Manning and Napier Inc (NYSE:MN) declared a quarterly dividend on Friday, March 9th, Wall Street Journal reports. Investors of record on Friday, April 13th will be given a dividend of 0.08 per share by the asset manager on Tuesday, May 1st. This represents a $0.32 dividend on an annualized basis and a yield of 8.65%. The ex-dividend date of this dividend is Thursday, April 12th.
Manning and Napier has decreased its dividend by an average of 14.5% annually over the last three years. Manning and Napier has a payout ratio of 72.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Manning and Napier to earn $0.20 per share next year, which means the company may not be able to cover its $0.32 annual dividend with an expected future payout ratio of 160.0%.
Manning and Napier (MN) opened at $3.70 on Friday. The company has a market capitalization of $52.64, a PE ratio of 15.42, a P/E/G ratio of 1.82 and a beta of 1.65. Manning and Napier has a 52 week low of $2.95 and a 52 week high of $6.20.
A number of equities analysts have commented on the company. Zacks Investment Research downgraded Manning and Napier from a “buy” rating to a “hold” rating in a research note on Thursday, January 11th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $4.00 target price on shares of Manning and Napier in a research note on Friday, November 10th.
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Manning and Napier Company Profile
Manning & Napier, Inc is an independent investment management company. The Company operates through investment management industry segment. It provides a range of investment solutions through separately managed accounts, mutual funds and collective investment trust funds, as well as a range of consultative services.
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