Spectrum Brands Holdings Inc (SPB) to Issue Quarterly Dividend of $0.42 on December 18th

Spectrum Brands Holdings Inc (NYSE:SPB) announced a quarterly dividend on Wednesday, November 14th, Wall Street Journal reports. Investors of record on Tuesday, November 27th will be given a dividend of 0.42 per share on Tuesday, December 18th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.27%. The ex-dividend date is Monday, November 26th.

Spectrum Brands has increased its dividend payment by an average of 11.9% annually over the last three years and has increased its dividend every year for the last 4 years. Spectrum Brands has a payout ratio of 47.7% meaning its dividend is sufficiently covered by earnings. Analysts expect Spectrum Brands to earn $4.64 per share next year, which means the company should continue to be able to cover its $1.68 annual dividend with an expected future payout ratio of 36.2%.

SPB opened at $51.42 on Friday. The company has a quick ratio of 2.68, a current ratio of 3.14 and a debt-to-equity ratio of 3.07. Spectrum Brands has a fifty-two week low of $45.88 and a fifty-two week high of $119.94.

Spectrum Brands (NYSE:SPB) last issued its quarterly earnings data on Wednesday, November 21st. The company reported $0.79 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.08 by ($0.29). The firm had revenue of $787.80 million for the quarter, compared to analyst estimates of $803.72 million. Spectrum Brands had a net margin of 23.26% and a negative return on equity of 2.44%. The firm’s revenue for the quarter was up .0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.35 EPS. On average, equities analysts forecast that Spectrum Brands will post 4.2 EPS for the current fiscal year.

A number of research analysts recently issued reports on the stock. TheStreet upgraded shares of Spectrum Brands from a “c” rating to a “b-” rating in a report on Monday, August 20th. BMO Capital Markets upped their price target on shares of Spectrum Brands from $95.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, July 31st. ValuEngine cut shares of Spectrum Brands from a “buy” rating to a “hold” rating in a report on Thursday, August 2nd. Zacks Investment Research upgraded shares of Spectrum Brands from a “hold” rating to a “buy” rating and set a $89.00 price target for the company in a report on Tuesday, September 25th. Finally, Bank of America reduced their price target on shares of Spectrum Brands from $91.00 to $84.00 and set a “hold” rating for the company in a report on Thursday, October 4th. Nine analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $106.90.

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About Spectrum Brands

Spectrum Brands Holdings, Inc, through its subsidiaries, operates as a branded consumer products company that manufactures, markets, and distributes branded consumer products. It supplies consumer batteries, residential locksets, residential builders' hardware, plumbing, shaving and grooming products, personal care products, small household appliances, specialty pet supplies, personal insect repellents, and auto care products, as well as lawn and garden, and home pest control products.

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Dividend History for Spectrum Brands (NYSE:SPB)

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