New Oriental Education & Technology Group, Inc. (NYSE:EDU) Announces Special Dividend of $0.60

New Oriental Education & Technology Group, Inc. (NYSE:EDU) declared a special dividend on Tuesday, October 28th. Investors of record on Friday, May 15th will be given a dividend of 0.60 per share on Friday, June 5th. The ex-dividend date of this dividend is Friday, May 15th.

New Oriental Education & Technology Group has a payout ratio of 28.2% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect New Oriental Education & Technology Group to earn $3.86 per share next year, which means the company should continue to be able to cover its $1.16 annual dividend with an expected future payout ratio of 30.1%.

New Oriental Education & Technology Group Stock Performance

Shares of EDU stock traded up $0.83 during trading hours on Wednesday, reaching $53.10. The company had a trading volume of 27,479 shares, compared to its average volume of 904,130. The stock’s fifty day simple moving average is $55.03 and its 200 day simple moving average is $55.94. New Oriental Education & Technology Group has a twelve month low of $41.62 and a twelve month high of $64.97. The company has a market capitalization of $8.39 billion, a P/E ratio of 20.24, a price-to-earnings-growth ratio of 0.88 and a beta of 0.24.

New Oriental Education & Technology Group (NYSE:EDU) last issued its earnings results on Tuesday, April 14th. The company reported $0.10 earnings per share (EPS) for the quarter. New Oriental Education & Technology Group had a net margin of 7.82% and a return on equity of 11.67%. The business had revenue of $1.42 billion for the quarter. As a group, equities analysts expect that New Oriental Education & Technology Group will post 3.19 earnings per share for the current year.

Institutional Investors Weigh In On New Oriental Education & Technology Group

Several hedge funds have recently modified their holdings of the stock. Factory Mutual Insurance Co. acquired a new stake in New Oriental Education & Technology Group during the 3rd quarter worth about $2,505,000. OPTIMAS CAPITAL Ltd acquired a new position in shares of New Oriental Education & Technology Group in the third quarter worth about $1,974,000. First Beijing Investment Ltd increased its position in shares of New Oriental Education & Technology Group by 31.4% in the third quarter. First Beijing Investment Ltd now owns 9,346,501 shares of the company’s stock worth $496,019,000 after acquiring an additional 2,231,169 shares in the last quarter. Serenity Capital Management PTE. LTD. raised its holdings in shares of New Oriental Education & Technology Group by 167.6% during the third quarter. Serenity Capital Management PTE. LTD. now owns 656,878 shares of the company’s stock valued at $34,861,000 after acquiring an additional 411,380 shares during the period. Finally, Barclays PLC raised its holdings in shares of New Oriental Education & Technology Group by 104.1% during the third quarter. Barclays PLC now owns 431,564 shares of the company’s stock valued at $22,903,000 after acquiring an additional 220,129 shares during the period.

About New Oriental Education & Technology Group

New Oriental Education & Technology Group (NYSE: EDU) is one of China’s leading providers of private educational services, specializing in language training, test preparation and consulting for overseas study. The company’s offerings span a range of subjects, including English language instruction, preparatory courses for examinations such as the TOEFL, GRE and GMAT, and K-12 after-school tutoring. New Oriental’s curriculum is delivered through a combination of in-person learning centers and digital platforms, enabling students across various regions to access its educational resources.

Founded in 1993 by Michael Yu Minhong in Beijing, New Oriental began as a small language school and quickly expanded its footprint.