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

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. Shareholders of record on Monday, August 11th will be given a dividend of 0.17 per share on Tuesday, August 26th. This represents a c) annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend is Monday, August 11th.

Nomad Foods has a dividend payout ratio of 29.8% 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 Trading Up 0.8%

NOMD stock traded up $0.14 during midday trading on Friday, hitting $16.98. 435,422 shares of the company's stock were exchanged, compared to its average volume of 609,137. The business has a 50-day simple moving average of $17.33 and a two-hundred day simple moving average of $18.28. 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 capitalization of $2.60 billion, a PE ratio of 11.32 and a beta of 0.72. Nomad Foods has a 1-year low of $15.43 and a 1-year high of $20.81.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of NOMD. Norges Bank purchased a new position in Nomad Foods in the fourth quarter valued at $27,386,000. Boston Partners boosted its holdings in Nomad Foods by 11.1% in the first quarter. Boston Partners now owns 10,209,283 shares of the company's stock valued at $200,615,000 after purchasing an additional 1,019,957 shares during the period. Ameriprise Financial Inc. raised its stake in Nomad Foods by 46.2% in the first quarter. Ameriprise Financial Inc. now owns 1,851,199 shares of the company's stock valued at $36,376,000 after buying an additional 585,054 shares in the last quarter. Vident Advisory LLC acquired a new stake in Nomad Foods in the fourth quarter valued at $9,003,000. Finally, Hennessy Advisors Inc. acquired a new stake in Nomad Foods in the second quarter valued at $8,617,000. 75.26% of the stock is currently owned by hedge funds and other institutional investors.

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.