Matthews International Corporation (NASDAQ:MATW) Raises Dividend to $0.26 Per Share

Matthews International Corporation (NASDAQ:MATW) announced a quarterly dividend on Wednesday, November 19th. Investors of record on Monday, December 1st will be paid a dividend of 0.255 per share on Monday, December 15th. This represents a c) annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend is Monday, December 1st. This is a 2.0% increase from Matthews International’s previous quarterly dividend of $0.25.

Matthews International has increased its dividend by an average of 0.0%per year over the last three years and has increased its dividend every year for the last 30 years. Matthews International has a payout ratio of 133.3% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Matthews International to earn $1.91 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 52.4%.

Matthews International Price Performance

MATW stock opened at $24.84 on Thursday. The stock has a market cap of $764.85 million, a price-to-earnings ratio of -11.72 and a beta of 1.30. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.66 and a quick ratio of 0.98. The company has a 50 day simple moving average of $23.96 and a 200 day simple moving average of $23.42. Matthews International has a 1 year low of $18.50 and a 1 year high of $32.24.

Matthews International (NASDAQ:MATW) last issued its earnings results on Wednesday, February 16th. The company reported $0.68 earnings per share for the quarter. The firm had revenue of $386.66 million for the quarter. Matthews International had a negative net margin of 4.01% and a positive return on equity of 9.15%. Research analysts anticipate that Matthews International will post 1.73 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on MATW shares. Wall Street Zen upgraded Matthews International from a “sell” rating to a “hold” rating in a research report on Saturday, August 9th. Weiss Ratings restated a “sell (d)” rating on shares of Matthews International in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock has a consensus rating of “Sell”.

Matthews International Company Profile

Matthews International Corporation provides brand solutions, memorialization products, and industrial technologies worldwide. It operates through three segments: Memorialization, Industrial Technologies, and SGK Brand Solutions. The Memorialization segment provides bronze and granite memorials, upright granite memorials and monuments, concrete burial vaults, cremation memorialization products, granite benches, flower vases, crypt plates and letters, cremation urns, niche units, cemetery features, and statues, as well as bronze plaques, letters, emblems, vases, lights and photo ceramics, granite monuments, mausoleums, crypts, and flush memorials.