Northern Technologies International Co. to Issue Quarterly Dividend of $0.07 (NASDAQ:NTIC)

Northern Technologies International Co. (NASDAQ:NTIC) declared a quarterly dividend on Wednesday, April 17th, Zacks reports. Stockholders of record on Wednesday, May 1st will be paid a dividend of 0.07 per share by the specialty chemicals company on Wednesday, May 15th. This represents a $0.28 annualized dividend and a dividend yield of 1.62%. The ex-dividend date of this dividend is Tuesday, April 30th.

Northern Technologies International has raised its dividend by an average of 62.7% annually over the last three years. Northern Technologies International has a payout ratio of 28.0% meaning its dividend is sufficiently covered by earnings. Analysts expect Northern Technologies International to earn $1.00 per share next year, which means the company should continue to be able to cover its $0.28 annual dividend with an expected future payout ratio of 28.0%.

Northern Technologies International Price Performance

Shares of Northern Technologies International stock opened at $17.31 on Monday. The company’s fifty day simple moving average is $13.99 and its 200-day simple moving average is $12.76. The stock has a market capitalization of $163.23 million, a PE ratio of 33.29 and a beta of 0.72. Northern Technologies International has a 1-year low of $10.08 and a 1-year high of $17.55.

Analysts Set New Price Targets

Several brokerages have recently weighed in on NTIC. Northland Securities lifted their price target on shares of Northern Technologies International from $19.00 to $20.00 and gave the stock an “outperform” rating in a research note on Friday, April 12th. StockNews.com cut shares of Northern Technologies International from a “buy” rating to a “hold” rating in a research note on Wednesday, April 24th. Finally, TheStreet upgraded shares of Northern Technologies International from a “c+” rating to a “b-” rating in a research note on Tuesday, February 27th.

About Northern Technologies International

Northern Technologies International Corporation develops and markets rust and corrosion inhibiting solutions in North America, South America, Europe, Asia, the Middle East and internationally. It offers rust and corrosion inhibiting products, such as plastic and paper packaging, liquids, coatings, rust removers, cleaners, diffusers, and engineered solutions designed for the oil and gas industry under the ZERUST brand.