Richardson Electronics, Ltd. (NASDAQ:RELL) Plans Quarterly Dividend of $0.06

Richardson Electronics, Ltd. (NASDAQ:RELL) announced a quarterly dividend on Tuesday, April 9th, Zacks reports. Shareholders of record on Friday, May 10th will be paid a dividend of 0.06 per share by the technology company on Wednesday, May 29th. This represents a $0.24 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date of this dividend is Thursday, May 9th.

Richardson Electronics has a dividend payout ratio of 26.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Richardson Electronics to earn $0.45 per share next year, which means the company should continue to be able to cover its $0.24 annual dividend with an expected future payout ratio of 53.3%.

Richardson Electronics Stock Up 0.8 %

Shares of RELL stock opened at $10.71 on Wednesday. The firm has a 50 day moving average of $9.38 and a two-hundred day moving average of $10.67. The stock has a market capitalization of $152.92 million, a PE ratio of 38.25, a P/E/G ratio of 15.94 and a beta of 0.99. Richardson Electronics has a 52 week low of $8.08 and a 52 week high of $19.58.

Richardson Electronics (NASDAQ:RELL) last posted its quarterly earnings results on Thursday, April 11th. The technology company reported $0.02 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.02. Richardson Electronics had a return on equity of 1.09% and a net margin of 1.97%. The company had revenue of $52.38 million for the quarter, compared to analyst estimates of $56.00 million. During the same quarter last year, the company earned $0.44 EPS. Analysts expect that Richardson Electronics will post 0.05 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Kenneth Halverson purchased 2,500 shares of the business’s stock in a transaction dated Monday, April 22nd. The stock was acquired at an average price of $10.05 per share, for a total transaction of $25,125.00. Following the acquisition, the director now directly owns 5,000 shares of the company’s stock, valued at approximately $50,250. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director Kenneth Halverson purchased 2,500 shares of the firm’s stock in a transaction dated Monday, April 22nd. The shares were acquired at an average price of $10.05 per share, with a total value of $25,125.00. Following the purchase, the director now directly owns 5,000 shares of the company’s stock, valued at $50,250. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Paul J. Plante purchased 5,000 shares of the stock in a transaction that occurred on Wednesday, April 17th. The stock was purchased at an average price of $9.96 per share, for a total transaction of $49,800.00. Following the acquisition, the director now owns 5,000 shares in the company, valued at $49,800. The disclosure for this purchase can be found here. 32.50% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. StockNews.com cut shares of Richardson Electronics from a “hold” rating to a “sell” rating in a report on Thursday, January 11th. Northland Securities started coverage on shares of Richardson Electronics in a research report on Monday, April 29th. They issued an “outperform” rating and a $13.00 target price on the stock.

Richardson Electronics Company Profile

Richardson Electronics, Ltd. provides engineered solutions, power grid and microwave tube, and related consumables worldwide. The Power and Microwave Technologies segment manufactures electron tubes and RF, Microwave and power components for semiconductors; and manufacturing equipment, RF and wireless and industrial power applications, as well as various applications including broadcast transmission, CO2 laser cutting, diagnostic imaging, dielectric and induction heating, energy transfer, high voltage switching, plasma, power conversion, radar, and radiation oncology.