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

Richardson Electronics, Ltd. (NASDAQ:RELL) declared a quarterly dividend on Wednesday, January 7th. Stockholders of record on Friday, February 6th will be given a dividend of 0.06 per share by the technology company on Wednesday, February 25th. This represents a c) annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Friday, February 6th.

Richardson Electronics has a dividend payout ratio of 43.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Richardson Electronics to earn $0.84 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 28.6%.

Richardson Electronics Trading Up 1.2%

Shares of Richardson Electronics stock opened at $11.68 on Thursday. Richardson Electronics has a 12-month low of $7.57 and a 12-month high of $13.88. The company has a market cap of $169.28 million, a P/E ratio of 1,169.17, a PEG ratio of 1.78 and a beta of 1.01. The company’s fifty day simple moving average is $10.65 and its two-hundred day simple moving average is $10.27.

Richardson Electronics (NASDAQ:RELL) last announced its earnings results on Wednesday, January 7th. The technology company reported ($0.01) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.01). The firm had revenue of $52.29 million for the quarter, compared to analyst estimates of $49.90 million. Richardson Electronics had a net margin of 0.08% and a return on equity of 2.91%. During the same quarter in the previous year, the firm posted ($0.05) EPS. Analysts predict that Richardson Electronics will post 0.27 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Zacks Research downgraded Richardson Electronics from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 9th. Weiss Ratings upgraded shares of Richardson Electronics from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Saturday, October 25th. Four research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Richardson Electronics presently has an average rating of “Hold”.

Richardson Electronics Company Profile

Richardson Electronics, Ltd. (NASDAQ:RELL) is a global manufacturer, distributor and servicer of engineered components and subsystems for a diverse range of industrial, medical and scientific applications. The company specializes in vacuum electron devices, high-voltage power supplies and related electronic components, offering klystrons, traveling wave tubes, magnetrons, X-ray tubes, microwave amplifiers and power conversion products. Its solutions support customers in power grid management, semiconductor processing, medical imaging, scientific instrumentation and telecommunications.

In addition to its manufacturing capabilities, Richardson Electronics maintains a broad distribution network comprising thousands of standard and custom parts.