Matthews International Co. (NASDAQ:MATW) Announces Quarterly Dividend of $0.24

Matthews International Co. (NASDAQ:MATW) declared a quarterly dividend on Wednesday, April 24th, Zacks reports. Investors of record on Monday, May 6th will be given a dividend of 0.24 per share on Monday, May 20th. This represents a $0.96 dividend on an annualized basis and a yield of 3.59%. The ex-dividend date of this dividend is Friday, May 3rd.

Matthews International has increased its dividend payment by an average of 3.3% per year over the last three years and has increased its dividend annually for the last 29 consecutive years. Matthews International has a payout ratio of 35.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Matthews International to earn $2.78 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 34.5%.

Matthews International Trading Down 1.0 %

NASDAQ MATW opened at $26.71 on Thursday. Matthews International has a 12 month low of $25.42 and a 12 month high of $48.86. The company has a current ratio of 1.88, a quick ratio of 1.15 and a debt-to-equity ratio of 1.69. The stock’s fifty day moving average price is $28.37 and its 200-day moving average price is $32.45. The stock has a market cap of $819.46 million, a P/E ratio of 25.20 and a beta of 1.14.

Matthews International (NASDAQ:MATW) last announced its quarterly earnings results on Thursday, February 1st. The company reported $0.37 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.37. The company had revenue of $449.99 million for the quarter, compared to analysts’ expectations of $437.77 million. Matthews International had a net margin of 1.77% and a return on equity of 16.44%. As a group, equities analysts forecast that Matthews International will post 2.6 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. B. Riley cut their price target on shares of Matthews International from $61.00 to $59.00 and set a “buy” rating on the stock in a report on Monday, February 5th. StockNews.com lowered Matthews International from a “buy” rating to a “hold” rating in a report on Friday, February 9th.

Matthews International Company Profile

Matthews International Corporation provides brand solutions, memorialization products, and industrial technologies worldwide. It operates through three segments: Memorialization, Industrial Technologies, and SGK Brand Solutions. The Memorialization segment provides bronze and granite memorials, upright granite memorials and monuments, concrete burial vaults, cremation memorialization products, granite benches, flower vases, crypt plates and letters, cremation urns, niche units, cemetery features, and statues, as well as bronze plaques, letters, emblems, vases, lights and photo ceramics, granite monuments, mausoleums, crypts, and flush memorials.