Resources Connection, Inc. (NASDAQ:RGP) Declares $0.07 Quarterly Dividend

Resources Connection, Inc. (NASDAQ:RGP) declared a quarterly dividend on Tuesday, August 11th. Stockholders of record on Thursday, September 3rd will be given a dividend of 0.07 per share on Thursday, October 1st. This represents a c) annualized dividend and a dividend yield of 6.6%. The ex-dividend date is Thursday, September 3rd.

Resources Connection has decreased its dividend payment by an average of 0.1%per year over the last three years. Resources Connection has a dividend payout ratio of 53.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect Resources Connection to earn ($0.18) per share next year, which means the company may not be able to cover its $0.28 annual dividend with an expected future payout ratio of -155.6%.

Resources Connection Stock Up 1.8%

RGP traded up $0.07 during midday trading on Wednesday, hitting $4.25. 125,238 shares of the company were exchanged, compared to its average volume of 451,652. The firm’s 50 day moving average price is $4.39 and its 200-day moving average price is $4.14. Resources Connection has a 1-year low of $3.06 and a 1-year high of $5.55. The firm has a market capitalization of $146.56 million, a P/E ratio of -3.55 and a beta of 0.54.

Resources Connection (NASDAQ:RGP) last posted its quarterly earnings data on Wednesday, July 22nd. The company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.01. Resources Connection had a negative net margin of 8.98% and a negative return on equity of 4.63%. The company had revenue of $106.11 million during the quarter, compared to analysts’ expectations of $106.76 million. On average, sell-side analysts predict that Resources Connection will post -0.44 earnings per share for the current fiscal year.

Resources Connection Company Profile

Resources Connection, Inc (NASDAQ: RGP) is a publicly traded professional services firm that specializes in providing independent consulting and project-based teams to help organizations manage critical business challenges. Operating under the RGP brand, the company connects highly skilled consultants with clients seeking support in areas such as finance and accounting, legal and risk management, supply chain optimization, technology implementation, and digital transformation.

RGP’s consultants bring specific industry and functional expertise to engagements, working on a flexible basis that allows clients to scale resources up or down as needed.