Wolverine World Wide, Inc. Announces Quarterly Dividend of $0.10 (NYSE:WWW)

Wolverine World Wide, Inc. (NYSE:WWW) announced a quarterly dividend on Thursday, May 2nd, Wall Street Journal reports. Investors of record on Monday, July 1st will be paid a dividend of 0.10 per share by the textile maker on Thursday, August 1st. This represents a $0.40 annualized dividend and a yield of 3.67%. The ex-dividend date of this dividend is Monday, July 1st.

Wolverine World Wide has a payout ratio of 36.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect Wolverine World Wide to earn $1.25 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 32.0%.

Wolverine World Wide Trading Up 4.2 %

Shares of NYSE:WWW traded up $0.44 during trading on Thursday, hitting $10.89. The company’s stock had a trading volume of 2,063,569 shares, compared to its average volume of 858,682. Wolverine World Wide has a fifty-two week low of $7.21 and a fifty-two week high of $17.85. The stock’s 50-day moving average price is $10.10 and its two-hundred day moving average price is $9.15. The company has a current ratio of 1.18, a quick ratio of 0.75 and a debt-to-equity ratio of 2.02.

Wolverine World Wide (NYSE:WWW) last released its quarterly earnings results on Wednesday, February 21st. The textile maker reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.27) by ($0.03). The firm had revenue of $526.70 million for the quarter, compared to the consensus estimate of $520.12 million. Wolverine World Wide had a positive return on equity of 1.45% and a negative net margin of 1.77%. The firm’s revenue was down 20.8% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.15) EPS. As a group, analysts forecast that Wolverine World Wide will post 0.77 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, Telsey Advisory Group restated a “market perform” rating and issued a $10.00 price objective on shares of Wolverine World Wide in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, Wolverine World Wide presently has a consensus rating of “Hold” and a consensus target price of $10.63.

Wolverine World Wide Company Profile

Wolverine World Wide, Inc designs, manufactures, sources, markets, licenses, and distributes footwear, apparel, and accessories in the United States, Europe, the Middle East, Africa, the Asia Pacific, Canada and Latin America. It operates through Active Group and Work Group segments. The company offers casual footwear and apparel; performance outdoor and athletic footwear and apparel; kids' footwear; industrial work boots and apparel; and uniform shoes and boots.