Matthews International Corporation (NASDAQ:MATW) Announces Quarterly Dividend of $0.25

Key Points

• Matthews International Corporation has announced a quarterly dividend of $0.25 per share, leading to an annualized dividend of $1.00 with a dividend yield of 4.26%.
• The company currently has a payout ratio of 133.3%, indicating it must rely on its balance sheet to cover dividend payments, although future earnings are expected to enable a healthier payout ratio of 52.4%.
• Matthews International's stock recently dropped 1.8%, trading at $23.45, and it has faced a negative earnings performance, missing analysts' estimates in its last quarterly report.

Matthews International Corporation (NASDAQ:MATW - Get Free Report) declared a quarterly dividend on Wednesday, July 30th, RTT News reports. Stockholders of record on Monday, August 11th will be given a dividend of 0.25 per share on Monday, August 25th. This represents a c) annualized dividend and a dividend yield of 4.3%. The ex-dividend date is Monday, August 11th.

Matthews International has a dividend payout ratio of 133.3% indicating that 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

Shares of Matthews International stock traded down $0.45 during trading on Friday, hitting $23.04. The stock had a trading volume of 275,755 shares, compared to its average volume of 171,616. The firm has a market cap of $714.47 million, a price-to-earnings ratio of -9.04 and a beta of 1.24. Matthews International has a 12 month low of $18.50 and a 12 month high of $32.24. The business's 50-day moving average is $23.38 and its 200 day moving average is $23.32. The company has a current ratio of 1.59, a quick ratio of 1.09 and a debt-to-equity ratio of 2.00.

Matthews International (NASDAQ:MATW - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.02). The firm had revenue of $427.63 million during the quarter, compared to the consensus estimate of $435.62 million. Matthews International had a positive return on equity of 11.04% and a negative net margin of 4.62%. As a group, sell-side analysts anticipate that Matthews International will post 1.73 earnings per share for the current year.

About Matthews International

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.