Matthews International Co. (NASDAQ:MATW) Plans 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 3.48%. The ex-dividend date 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 raised its dividend annually for the last 29 consecutive years. Matthews International has a payout ratio of 35.3% meaning 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 Price Performance

NASDAQ:MATW opened at $27.55 on Friday. Matthews International has a 52 week low of $25.42 and a 52 week high of $48.86. The firm has a market cap of $845.23 million, a price-to-earnings ratio of 25.99 and a beta of 1.12. The firm’s 50-day simple moving average is $28.46 and its 200 day simple moving average is $32.85. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.15 and a current ratio of 1.88.

Matthews International (NASDAQ:MATW) last released its quarterly earnings results on Thursday, February 1st. The company reported $0.37 EPS 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. As a group, sell-side analysts predict that Matthews International will post 2.6 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on MATW. StockNews.com lowered shares of Matthews International from a “buy” rating to a “hold” rating in a report on Friday, February 9th. B. Riley decreased 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.

About Matthews International

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.