The Scotts Miracle-Gro Company (NYSE:SMG) Declares Quarterly Dividend of $0.66

Key Points

• Scotts Miracle-Gro declared a quarterly dividend of $0.66 per share, payable December 4 to shareholders of record November 20. The annualized dividend is $2.64, a yield of about 4.3%.
• The dividend appears covered by earnings: the payout ratio is 62.9%, and analysts expect next year’s earnings to imply a lower 56.5% payout ratio.
• Quarterly results were mixed: the company’s loss of $2.16 per share was slightly better than estimates, but revenue of $302.9 million missed forecasts and fell 10.9% year over year.

The Scotts Miracle-Gro Company (NYSE:SMG - Get Free Report) declared a quarterly dividend on Tuesday, November 3rd. Investors of record on Friday, November 20th will be given a dividend of $0.66 per share by the basic materials company on Friday, December 4th. This represents a $2.64 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date is Friday, November 20th.

Scotts Miracle-Gro has decreased its dividend by an average of 0.2% per year over the last three years. Scotts Miracle-Gro has a payout ratio of 62.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Scotts Miracle-Gro to earn $4.67 per share next year, which means the company should continue to be able to cover its $2.64 annual dividend with an expected future payout ratio of 56.5%.

Scotts Miracle-Gro Stock Down 5.2%

Shares of SMG stock opened at $61.74 on Wednesday. The stock has a market capitalization of $3.59 billion, a PE ratio of 53.69 and a beta of 1.87. Scotts Miracle-Gro has a 52-week low of $47.90 and a 52-week high of $75.34. The stock's 50-day moving average price is $55.41 and its 200 day moving average price is $61.91.

Scotts Miracle-Gro (NYSE:SMG - Get Free Report) last posted its quarterly earnings data on Wednesday, November 4th. The basic materials company reported ($2.16) EPS for the quarter, beating the consensus estimate of ($2.21) by $0.05. Scotts Miracle-Gro had a negative return on equity of 81.90% and a net margin of 2.19%. The firm had revenue of $302.90 million during the quarter, compared to the consensus estimate of $306.11 million. During the same period in the prior year, the business earned ($2.63) EPS. The firm's revenue was down 10.9% compared to the same quarter last year. Analysts expect that Scotts Miracle-Gro will post 4.39 earnings per share for the current fiscal year.

Scotts Miracle-Gro Company Profile

Scotts Miracle-Gro Company is a provider of consumer lawn and garden products headquartered in Marysville, Ohio. The company develops and markets products designed to help consumers grow and maintain lawns, gardens, landscapes and indoor plants.

Its portfolio includes lawn fertilizers, grass seed, plant food, gardening products, pest-control solutions, soils and related growing supplies. Key consumer brands include Scotts, Miracle-Gro, Ortho and Tomcat. The company also has a history of serving the controlled-environment agriculture and hydroponics markets through specialized growing products and supplies.

Scotts Miracle-Gro was founded in 1868 and has built a broad distribution network serving retail customers, garden centers and other outlets.

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