Olympic Steel, Inc. to Issue Quarterly Dividend of $0.15 (NASDAQ:ZEUS)

Olympic Steel, Inc. (NASDAQ:ZEUS - Get Free Report) declared a quarterly dividend on Thursday, May 2nd, Zacks reports. Investors of record on Monday, June 3rd will be given a dividend of 0.15 per share by the basic materials company on Monday, June 17th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date of this dividend is Monday, June 3rd.

Olympic Steel has increased its dividend by an average of 84.2% per year over the last three years and has raised its dividend every year for the last 3 years. Olympic Steel has a dividend payout ratio of 15.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Olympic Steel to earn $4.11 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 14.6%.

Olympic Steel Price Performance

NASDAQ:ZEUS traded down $6.13 on Friday, reaching $57.55. 146,077 shares of the company's stock traded hands, compared to its average volume of 53,420. The stock has a 50-day simple moving average of $67.44 and a 200-day simple moving average of $62.93. Olympic Steel has a 12 month low of $40.85 and a 12 month high of $73.49. The firm has a market cap of $640.53 million, a PE ratio of 15.35 and a beta of 1.67. The company has a quick ratio of 1.20, a current ratio of 3.35 and a debt-to-equity ratio of 0.34.

Olympic Steel (NASDAQ:ZEUS - Get Free Report) last released its earnings results on Thursday, February 22nd. The basic materials company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.12. The firm had revenue of $489.41 million during the quarter, compared to analysts' expectations of $490.10 million. Olympic Steel had a return on equity of 6.43% and a net margin of 2.05%. Equities research analysts forecast that Olympic Steel will post 3.41 earnings per share for the current year.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of Olympic Steel from a "strong-buy" rating to a "buy" rating in a report on Saturday, March 2nd.

About Olympic Steel

Olympic Steel, Inc processes, distributes, and stores metal products primarily in the United States, Canada, and Mexico. It operates in three segments: Carbon Flat Products; Specialty Metals Flat Products; and Tubular and Pipe Products. The company offers stainless steel and aluminum coil and sheet products, angles, rounds, and flat bars; alloy, heat treated, and abrasion resistant coils, sheets and plates; coated metals, including galvanized, galvannealed, electro galvanized, advanced high strength steels, aluminized, and automotive grades of steel; commercial quality, advanced high strength steel, drawing steel, and automotive grades cold rolled steel coil and sheet products; hot rolled carbon comprising hot rolled coil, pickled and oiled sheet and plate steel products, automotive grades, advanced high strength steels, and high strength low alloys; tube, pipe, and bar products, including round, square, and rectangular mechanical and structural tubing; hydraulic and stainless tubing; boiler tubing; carbon, stainless, and aluminum pipes; valves and fittings; and tin mill products, such as electrolytic tinplate, electrolytic chromium coated steel, and black plates.