Wolverine World Wide, Inc. (NYSE:WWW) Declares $0.10 Quarterly Dividend

Wolverine World Wide, Inc. (NYSE:WWW - Get Free Report) declared a quarterly dividend on Thursday, May 2nd, Wall Street Journal reports. Investors of record on Monday, July 1st will be paid a dividend of 0.10 per share by the textile maker on Thursday, August 1st. This represents a $0.40 dividend on an annualized basis and a yield of 3.68%. The ex-dividend date of this dividend is Monday, July 1st.

Wolverine World Wide has a payout ratio of 36.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Wolverine World Wide to earn $1.25 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 32.0%.

Wolverine World Wide Stock Performance

Shares of NYSE:WWW traded up $0.43 on Thursday, reaching $10.88. 2,065,177 shares of the company's stock were exchanged, compared to its average volume of 863,508. The company has a fifty day moving average of $10.12 and a 200-day moving average of $9.16. Wolverine World Wide has a twelve month low of $7.21 and a twelve month high of $17.85. The company has a market capitalization of $869.42 million, a price-to-earnings ratio of -21.33 and a beta of 1.73. The company has a current ratio of 1.18, a quick ratio of 0.75 and a debt-to-equity ratio of 2.02.

Wolverine World Wide (NYSE:WWW - Get Free Report) last announced its earnings results on Wednesday, February 21st. The textile maker reported ($0.30) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.27) by ($0.03). Wolverine World Wide had a positive return on equity of 1.45% and a negative net margin of 1.77%. The business had revenue of $526.70 million for the quarter, compared to analyst estimates of $520.12 million. During the same quarter in the previous year, the company earned ($0.15) EPS. The business's revenue for the quarter was down 20.8% on a year-over-year basis. On average, research analysts predict that Wolverine World Wide will post 0.77 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, Telsey Advisory Group reiterated a "market perform" rating and set a $10.00 price target on shares of Wolverine World Wide in a research report on Wednesday. One investment analyst has rated the stock with a sell rating and seven have given a hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $10.63.

About Wolverine World Wide

Wolverine World Wide, Inc designs, manufactures, sources, markets, licenses, and distributes footwear, apparel, and accessories in the United States, Europe, the Middle East, Africa, the Asia Pacific, Canada and Latin America. It operates through Active Group and Work Group segments. The company offers casual footwear and apparel; performance outdoor and athletic footwear and apparel; kids' footwear; industrial work boots and apparel; and uniform shoes and boots.