Resources Connection, Inc. (NASDAQ:RGP) Announces Quarterly Dividend of $0.07

Key Points

• Resources Connection, Inc. has declared a quarterly dividend of $0.07 per share, with an annualized dividend representing a yield of 6.0%.
• The ex-dividend date is set for August 29th, with dividends payable on September 26th.
• Resources Connection's current payout ratio stands at 53.8%, indicating that the dividend is well-covered by the company's earnings.

Resources Connection, Inc. (NASDAQ:RGP - Get Free Report) declared a quarterly dividend on Monday, August 4th, Wall Street Journal reports. Shareholders of record on Friday, August 29th will be paid a dividend of 0.07 per share on Friday, September 26th. This represents a c) dividend on an annualized basis and a yield of 6.1%. The ex-dividend date is Friday, August 29th.

Resources Connection has a dividend payout ratio of 53.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Resources Connection to earn $1.09 per share next year, which means the company should continue to be able to cover its $0.28 annual dividend with an expected future payout ratio of 25.7%.

Resources Connection Price Performance

NASDAQ RGP traded down $0.04 on Friday, reaching $4.60. The stock had a trading volume of 340,842 shares, compared to its average volume of 334,738. The firm has a fifty day moving average of $5.34 and a two-hundred day moving average of $6.10. Resources Connection has a 1-year low of $4.53 and a 1-year high of $10.45. The company has a market cap of $153.36 million, a P/E ratio of -0.79, a price-to-earnings-growth ratio of 2.56 and a beta of 0.66.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new stake in shares of Resources Connection during the 4th quarter valued at $272,000. American Century Companies Inc. lifted its position in shares of Resources Connection by 9.1% during the 4th quarter. American Century Companies Inc. now owns 70,669 shares of the company's stock valued at $603,000 after acquiring an additional 5,889 shares during the period. Sei Investments Co. lifted its position in shares of Resources Connection by 13.1% during the 4th quarter. Sei Investments Co. now owns 37,277 shares of the company's stock valued at $318,000 after acquiring an additional 4,310 shares during the period. LPL Financial LLC lifted its position in shares of Resources Connection by 6.2% during the 4th quarter. LPL Financial LLC now owns 48,762 shares of the company's stock valued at $416,000 after acquiring an additional 2,837 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in shares of Resources Connection by 196.2% during the 4th quarter. JPMorgan Chase & Co. now owns 261,688 shares of the company's stock valued at $2,232,000 after acquiring an additional 173,333 shares during the period. 93.23% of the stock is owned by institutional investors and hedge funds.

About Resources Connection

Resources Connection, Inc provides consulting services to business customers under the Resources Global Professionals name in North America, Europe, and the Asia Pacific. The company offers services in the areas of transactions, including integration and divestitures, bankruptcy/restructuring, going public readiness and support, financial process optimization, and system implementation; and regulations, such as accounting regulations, internal audit and compliance, data privacy and security, healthcare compliance, and regulatory compliance.