The Marzetti Company (MZTI) to Distribute Quarterly Dividend of $1.05 on December 31st

The Marzetti Company (NASDAQ:MZTI) declared a quarterly dividend on Wednesday, November 11th. Stockholders of record on Friday, December 4th will be paid a dividend of $1.05 per share on Thursday, December 31st. This represents a $4.20 annualized dividend and a dividend yield of 3.8%. The ex-dividend date is Friday, December 4th. This is a 5.0% increase from Marzetti’s previous quarterly dividend of $1.00.

Marzetti has raised its dividend by an average of 0.1% per year over the last three years and has increased its dividend every year for the last 62 years. Marzetti has a dividend payout ratio of 56.6% indicating that its dividend is sufficiently covered by earnings.

Marzetti Stock Down 0.9%

Shares of NASDAQ:MZTI opened at $110.53 on Friday. Marzetti has a 52-week low of $97.00 and a 52-week high of $176.26. The company has a market capitalization of $3.01 billion, a PE ratio of 17.78 and a beta of 0.34. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.66 and a current ratio of 1.53. The company has a fifty day moving average of $104.41 and a 200-day moving average of $122.52.

Marzetti (NASDAQ:MZTI) last released its quarterly earnings data on Tuesday, November 3rd. The company reported $1.14 earnings per share for the quarter, missing the consensus estimate of $1.37 by ($0.23). The firm had revenue of $481.52 million for the quarter. Marzetti had a net margin of 9.06% and a return on equity of 16.46%. The firm’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.74 earnings per share.

About Marzetti

The Marzetti Company (NASDAQ: MZTI), formerly Lancaster Colony Corporation, is a specialty food manufacturer headquartered in Columbus, Ohio. Its history traces to Teresa Marzetti’s Italian restaurant, which opened in Columbus in 1896; the company adopted The Marzetti Company name in 2023. The company makes branded and private-label products for grocery retailers and foodservice customers. Its offerings include salad dressings, dips, croutons, frozen garlic bread, rolls and other specialty breads and baked goods.