Cricut, Inc. (NASDAQ:CRCT) Plans $0.10 Dividend

Cricut, Inc. (NASDAQ:CRCT) announced a dividend on Tuesday, May 5th. Shareholders of record on Tuesday, July 7th will be paid a dividend of 0.10 per share on Tuesday, July 21st. This represents a yield of 474.0%. The ex-dividend date of this dividend is Tuesday, July 7th.

Cricut has a payout ratio of 87.0% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities analysts expect Cricut to earn $0.18 per share next year, which means the company may not be able to cover its $0.20 annual dividend with an expected future payout ratio of 111.1%.

Cricut Stock Performance

NASDAQ:CRCT opened at $4.59 on Wednesday. The stock has a 50-day simple moving average of $4.21 and a 200-day simple moving average of $4.61. The stock has a market cap of $971.02 million, a P/E ratio of 12.01 and a beta of 0.22. Cricut has a 1 year low of $3.73 and a 1 year high of $7.33.

Cricut (NASDAQ:CRCT) last issued its earnings results on Tuesday, May 5th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.05. The business had revenue of $159.47 million for the quarter, compared to analyst estimates of $164.33 million. Cricut had a return on equity of 20.44% and a net margin of 10.82%. On average, equities research analysts predict that Cricut will post 0.14 EPS for the current year.

About Cricut

Cricut, Inc (NASDAQ: CRCT) is a U.S.-based technology company specializing in personal and small-business crafting solutions. The company designs and markets a family of cutting machines that leverage computer-aided design to precisely cut a wide range of materials, including paper, vinyl, fabric and leather. Complementing its hardware offerings, Cricut provides proprietary software and mobile applications that enable users to create custom artwork, import graphics and access a vast library of pre-designed projects and fonts through a subscription service.

Founded as a division of Provo Craft & Novelty in 2005, Cricut emerged as an independent public company in March 2021.