Matthews International Corporation (MATW) To Go Ex-Dividend on August 10th

Matthews International Corporation (NASDAQ:MATW) declared a quarterly dividend on Wednesday, July 29th. Shareholders of record on Monday, August 10th will be given a dividend of 0.255 per share on Monday, August 24th. This represents a c) dividend on an annualized basis and a yield of 3.7%. The ex-dividend date is Monday, August 10th.

Matthews International has increased its dividend payment by an average of 0.0%annually over the last three years and has raised its dividend annually for the last 30 consecutive years. Matthews International has a dividend payout ratio of 136.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Matthews International to earn $1.24 per share next year, which means the company should continue to be able to cover its $1.02 annual dividend with an expected future payout ratio of 82.3%.

Matthews International Stock Down 2.4%

Shares of NASDAQ:MATW opened at $27.75 on Friday. The company has a market capitalization of $865.80 million, a price-to-earnings ratio of 89.52 and a beta of 1.08. The company has a 50 day moving average of $26.70 and a two-hundred day moving average of $26.60. Matthews International has a 52-week low of $21.95 and a 52-week high of $30.93. The company has a quick ratio of 0.97, a current ratio of 1.64 and a debt-to-equity ratio of 1.12.

Matthews International (NASDAQ:MATW) last posted its earnings results on Thursday, April 30th. The company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.20. The business had revenue of $258.62 million for the quarter, compared to analysts’ expectations of $253.65 million. Matthews International had a net margin of 0.80% and a return on equity of 5.88%. As a group, analysts forecast that Matthews International will post 1.09 earnings per share for the current fiscal year.

About Matthews International

Matthews International Corporation (NASDAQ:MATW) is a diversified industrial company headquartered in Pittsburgh, Pennsylvania. The company operates through two primary business segments—Brand Solutions and Memorialization—offering a broad range of products and services designed to meet the needs of industrial manufacturers, brand marketers and the funeral industry worldwide.

In its Brand Solutions segment, Matthews International provides engraving and digital printing systems, automated finishing equipment, thermal management products and electronics assembly solutions.