Steelcase Inc. (SCS) To Go Ex-Dividend on April 7th

Steelcase Inc. (NYSE:SCS) declared a quarterly dividend on Wednesday, March 26th, Wall Street Journal reports. Shareholders of record on Monday, April 7th will be given a dividend of 0.10 per share by the business services provider on Monday, April 21st. This represents a $0.40 annualized dividend and a yield of 3.54%. The ex-dividend date is Monday, April 7th.

Steelcase has decreased its dividend payment by an average of 9.2% per year over the last three years. Steelcase has a payout ratio of 31.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Steelcase to earn $1.06 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 37.7%.

Steelcase Stock Up 6.6 %

Shares of NYSE SCS opened at $11.30 on Friday. Steelcase has a 12-month low of $10.30 and a 12-month high of $14.74. The stock has a market cap of $1.28 billion, a P/E ratio of 11.77, a PEG ratio of 1.25 and a beta of 1.33. The company has a current ratio of 1.57, a quick ratio of 1.21 and a debt-to-equity ratio of 0.48. The business’s fifty day simple moving average is $11.61 and its 200-day simple moving average is $12.36.

Steelcase (NYSE:SCS) last announced its quarterly earnings data on Wednesday, March 26th. The business services provider reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.06. Steelcase had a net margin of 3.63% and a return on equity of 14.20%. The business had revenue of $788.00 million for the quarter, compared to analyst estimates of $790.90 million. During the same period last year, the business earned $0.23 EPS. The company’s revenue was up 1.7% on a year-over-year basis. As a group, equities analysts predict that Steelcase will post 1 EPS for the current fiscal year.

Insider Buying and Selling at Steelcase

In related news, VP Robert G. Krestakos sold 5,000 shares of Steelcase stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $11.74, for a total value of $58,700.00. Following the sale, the vice president now directly owns 114,481 shares in the company, valued at $1,344,006.94. The trade was a 4.18 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 12.96% of the stock is currently owned by company insiders.

Steelcase Company Profile

Steelcase Inc provides a portfolio of furniture and architectural products and services in the United States and internationally. It operates through Americas and International segments. The company's furniture portfolio includes furniture systems, seating, storage, fixed and height-adjustable desks, benches, and tables, as well as complementary products, such as work accessories, lighting, mobile power, and screens.