Nomad Foods Limited (NYSE:NOMD) Declares $0.17 Quarterly Dividend

Nomad Foods Limited (NYSE:NOMD - Get Free Report) declared a quarterly dividend on Wednesday, April 30th, RTT News reports. Stockholders of record on Monday, May 12th will be paid a dividend of 0.17 per share on Wednesday, May 28th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date is Monday, May 12th.

Nomad Foods has a dividend payout ratio of 31.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Nomad Foods to earn $1.95 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 34.9%.

Nomad Foods Price Performance

Nomad Foods stock traded up $0.38 during mid-day trading on Friday, reaching $20.09. The company had a trading volume of 1,159,138 shares, compared to its average volume of 638,435. The stock's 50-day simple moving average is $19.53 and its 200-day simple moving average is $18.10. Nomad Foods has a 1 year low of $15.43 and a 1 year high of $20.81. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.20 and a quick ratio of 0.72. The company has a market capitalization of $3.08 billion, a P/E ratio of 15.11 and a beta of 0.83.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Mizuho lifted their price objective on Nomad Foods from $24.00 to $26.00 and gave the stock an "outperform" rating in a report on Tuesday, March 4th. StockNews.com downgraded Nomad Foods from a "strong-buy" rating to a "buy" rating in a research note on Friday, April 25th. Finally, Barclays increased their price objective on shares of Nomad Foods from $19.00 to $23.00 and gave the company an "overweight" rating in a research note on Monday, March 3rd.

About Nomad Foods

Nomad Foods Limited, together with its subsidiaries, manufactures, markets, and distributes a range of frozen food products in the United Kingdom and internationally. The company offers frozen fish products, including fish fingers, coated fish, and natural fish; ready-to-cook vegetable products, such as peas and spinach; and frozen poultry and meat products comprising nuggets, grills, and burgers.