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

Key Points

• Nomad Foods Limited declared a quarterly dividend of $0.17 per share, which translates to an annualized dividend of $0.68 and a dividend yield of 3.89%.
• The company has a payout ratio of 29.8%, indicating that its dividend is well covered by earnings, with analysts projecting an increase in earnings per share to $1.95 next year.
• Stock performance shows Nomad Foods opened at $17.50, with a market cap of $2.68 billion and a 12-month trading range between $15.43 and $20.81.

Nomad Foods Limited (NYSE:NOMD - Get Free Report) announced a quarterly dividend on Wednesday, July 30th, RTT News reports. Stockholders of record on Monday, August 11th will be given a dividend of 0.17 per share on Tuesday, August 26th. This represents a c) dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date is Monday, August 11th.

Nomad Foods has a payout ratio of 29.8% meaning its dividend is sufficiently covered by earnings. Equities 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 Stock Up 0.6%

NYSE:NOMD traded up $0.10 on Friday, reaching $16.94. The stock had a trading volume of 33,867 shares, compared to its average volume of 766,829. Nomad Foods has a 12-month low of $15.43 and a 12-month high of $20.81. The company has a 50-day moving average of $17.34 and a 200 day moving average of $18.27. The company has a current ratio of 1.06, a quick ratio of 0.66 and a debt-to-equity ratio of 0.81. The stock has a market cap of $2.60 billion, a P/E ratio of 11.29 and a beta of 0.73.

Nomad Foods (NYSE:NOMD - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.37 earnings per share for the quarter, missing analysts' consensus estimates of $0.41 by ($0.04). The firm had revenue of $822.31 million during the quarter, compared to the consensus estimate of $769.39 million. Nomad Foods had a net margin of 7.35% and a return on equity of 10.60%. Nomad Foods's revenue was down 3.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.37 earnings per share. On average, research analysts predict that Nomad Foods will post 1.82 earnings per share for the current year.

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.