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

Key Points

• Nomad Foods declared a quarterly dividend of $0.17 per share, payable June 1 to holders of record on May 12 with an ex-dividend date of May 11, representing a 7.0% yield.
• The dividend appears sustainable with a current payout ratio of 29.8% and analysts projecting next-year EPS of $1.82, implying an expected future payout ratio of about 37.4%.
• Shares trade near $9.71 with a market cap of $1.38 billion and a P/E of 9.5, institutional investors hold roughly 75% of the stock, and the one-year price range is $9.43–$20.29.

Nomad Foods Limited (NYSE:NOMD - Get Free Report) announced a quarterly dividend on Thursday, April 30th. Investors of record on Tuesday, May 12th will be given a dividend of 0.17 per share on Monday, June 1st. This represents a c) annualized dividend and a yield of 7.0%. The ex-dividend date of this dividend is Monday, May 11th.

Nomad Foods has a payout ratio of 29.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Nomad Foods to earn $1.82 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 37.4%.

Nomad Foods Stock Performance

NOMD traded up $0.14 during trading on Thursday, hitting $9.71. The stock had a trading volume of 888,714 shares, compared to its average volume of 1,670,985. The firm has a market cap of $1.38 billion, a price-to-earnings ratio of 9.52 and a beta of 0.74. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.07 and a quick ratio of 0.66. The company has a 50 day moving average price of $10.17 and a 200-day moving average price of $11.50. Nomad Foods has a one year low of $9.43 and a one year high of $20.29.

Institutional Investors Weigh In On Nomad Foods

Institutional investors have recently made changes to their positions in the stock. Polaris Capital Management LLC grew its position in shares of Nomad Foods by 138.8% in the 3rd quarter. Polaris Capital Management LLC now owns 3,441,900 shares of the company's stock valued at $45,261,000 after buying an additional 2,000,400 shares during the last quarter. Moody Aldrich Partners LLC grew its position in shares of Nomad Foods by 188.1% in the 3rd quarter. Moody Aldrich Partners LLC now owns 247,558 shares of the company's stock valued at $3,255,000 after buying an additional 161,623 shares during the last quarter. Atlantic Investment Management Inc. bought a new stake in shares of Nomad Foods during the 3rd quarter valued at about $9,494,000. Invenomic Capital Management LP boosted its position in shares of Nomad Foods by 144.2% during the 3rd quarter. Invenomic Capital Management LP now owns 952,268 shares of the company's stock valued at $12,522,000 after purchasing an additional 562,304 shares in the last quarter. Finally, American Assets Inc. bought a new stake in shares of Nomad Foods during the 3rd quarter valued at about $526,000. Institutional investors own 75.26% of the company's stock.

About Nomad Foods

Nomad Foods Limited is a leading frozen foods company headquartered in the United Kingdom, operating under the ticker symbol NOMD on the New York Stock Exchange. The company's portfolio comprises well-known consumer brands such as Birds Eye, iglo, Findus, Goodfella's and Aunt Bessie's, covering a wide range of categories including vegetables, seafood, ready meals, pizzas and desserts. Nomad Foods focuses on delivering convenient, high-quality frozen products designed to meet evolving consumer preferences for taste, nutrition and ease of preparation.

Formed in 2015 through the acquisition of Iglo Group by investment firms Permira and Goldman Sachs Asset Management, Nomad Foods was created with the strategy of building Europe's largest frozen foods platform.

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