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

Matthews International Co. (NASDAQ:MATW) announced 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 annualized dividend and a yield of 3.48%. The ex-dividend date of this dividend is Friday, May 3rd.

Matthews International has raised its dividend by an average of 3.3% per year over the last three years and has raised 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. 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 Up 2.3 %

MATW stock opened at $27.55 on Friday. The company has a current ratio of 1.88, a quick ratio of 1.15 and a debt-to-equity ratio of 1.69. Matthews International has a 12-month low of $25.42 and a 12-month high of $48.86. The stock has a market cap of $845.23 million, a price-to-earnings ratio of 25.99 and a beta of 1.12. The business’s 50-day moving average is $28.46 and its 200 day moving average is $32.85.

Matthews International (NASDAQ:MATW) last released its earnings results on Thursday, February 1st. The company reported $0.37 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.37. Matthews International had a net margin of 1.77% and a return on equity of 16.44%. The business had revenue of $449.99 million for the quarter, compared to analyst estimates of $437.77 million. On average, sell-side analysts anticipate that Matthews International will post 2.6 EPS for the current fiscal year.

Analysts Set New Price Targets

MATW has been the topic of a number of research analyst reports. StockNews.com lowered Matthews International from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. B. Riley cut their target price on Matthews International from $61.00 to $59.00 and set a “buy” rating on the stock in a research report on Monday, February 5th.

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.