The Scotts Miracle-Gro Company (NYSE:SMG) Announces $0.66 Quarterly Dividend

The Scotts Miracle-Gro Company (NYSE:SMG) announced a quarterly dividend on Tuesday, July 28th. Shareholders of record on Friday, August 21st will be given a dividend of 0.66 per share by the basic materials company on Friday, September 4th. This represents a c) dividend on an annualized basis and a yield of 3.9%. The ex-dividend date is Friday, August 21st.

Scotts Miracle-Gro has decreased its dividend by an average of 0.2%annually over the last three years. Scotts Miracle-Gro has a payout ratio of 62.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Scotts Miracle-Gro to earn $4.64 per share next year, which means the company should continue to be able to cover its $2.64 annual dividend with an expected future payout ratio of 56.9%.

Scotts Miracle-Gro Stock Performance

Shares of NYSE SMG traded down $5.20 during midday trading on Wednesday, hitting $67.90. 85,270 shares of the stock traded hands, compared to its average volume of 934,010. The firm has a market capitalization of $3.95 billion, a P/E ratio of 38.30 and a beta of 1.81. Scotts Miracle-Gro has a one year low of $52.00 and a one year high of $75.34. The firm has a 50-day moving average of $64.28 and a two-hundred day moving average of $64.15.

Scotts Miracle-Gro (NYSE:SMG) last issued its quarterly earnings data on Wednesday, July 29th. The basic materials company reported $2.82 EPS for the quarter, topping the consensus estimate of $2.48 by $0.34. The company had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.17 billion. Scotts Miracle-Gro had a negative return on equity of 79.61% and a net margin of 3.27%.Scotts Miracle-Gro’s revenue was up 1.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.59 earnings per share. Equities analysts forecast that Scotts Miracle-Gro will post 4.3 earnings per share for the current fiscal year.

About Scotts Miracle-Gro

Scotts Miracle-Gro Company is a leading developer, manufacturer and distributor of consumer lawn and garden products. The firm serves both retail and professional customers through an array of branded offerings that include lawn fertilizers, grass seed, pest and disease control solutions, plant foods and specialty products for indoor and outdoor gardening. Its portfolio spans well-known names such as Scotts®, Miracle-Gro®, Ortho® and various hydroponic and specialty garden brands.

Headquartered in Marysville, Ohio, the company traces its roots to O.M.