Methode Electronics Inc. (NYSE:MEI) announced a quarterly dividend on Friday, March 16th, Wall Street Journal reports. Shareholders of record on Friday, April 13th will be given a dividend of 0.11 per share by the electronics maker on Friday, April 27th. This represents a $0.44 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date of this dividend is Thursday, April 12th.
Methode Electronics has increased its dividend payment by an average of 1.9% per year over the last three years. Methode Electronics has a payout ratio of 17.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect Methode Electronics to earn $3.10 per share next year, which means the company should continue to be able to cover its $0.44 annual dividend with an expected future payout ratio of 14.2%.
MEI opened at $38.45 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 4.03 and a quick ratio of 3.47. Methode Electronics has a 52 week low of $36.05 and a 52 week high of $48.44. The firm has a market cap of $1,438.99, a price-to-earnings ratio of 15.08, a price-to-earnings-growth ratio of 0.93 and a beta of 0.88.
A number of research firms have commented on MEI. Zacks Investment Research lowered shares of Methode Electronics from a “buy” rating to a “hold” rating in a report on Tuesday, March 6th. Robert W. Baird reaffirmed an “outperform” rating and set a $51.00 target price (up previously from $48.00) on shares of Methode Electronics in a report on Friday, March 2nd. Finally, TheStreet lowered shares of Methode Electronics from a “b” rating to a “c+” rating in a report on Friday, March 2nd. One analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $48.75.
ILLEGAL ACTIVITY WARNING: This story was originally posted by Ticker Report and is the sole property of of Ticker Report. If you are accessing this story on another publication, it was copied illegally and reposted in violation of United States and international copyright and trademark legislation. The legal version of this story can be accessed at https://www.tickerreport.com/banking-finance/3337709/methode-electronics-inc-mei-to-go-ex-dividend-on-april-12th.html.
Methode Electronics Company Profile
Methode Electronics, Inc (Methode) is a manufacturer of component and subsystem devices. The Company designs, manufactures and markets devices employing electrical, radio remote control, electronic, wireless and sensing technologies. The Company operates through segments, including Automotive, Interface, Power Products and Other.
Receive News & Ratings for Methode Electronics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Methode Electronics and related companies with MarketBeat.com's FREE daily email newsletter.