Richardson Electronics, Ltd. (NASDAQ:RELL) to Issue $0.06 Quarterly Dividend

Key Points

• Richardson Electronics, Ltd. declared a quarterly dividend of $0.06 per share, set to be paid on November 26th to shareholders recorded as of November 7th, reflecting an annualized yield of 2.3%.
• The company reported earnings of $0.13 per share for the quarter, significantly exceeding expectations, with analysts projecting a future earnings of $0.84 per share.
• The stock saw a 7.8% increase, trading at $10.61, with a market capitalization of $153.74 million and a price-to-earnings ratio of -132.61.

Richardson Electronics, Ltd. (NASDAQ:RELL - Get Free Report) declared a quarterly dividend on Wednesday, October 8th, RTT News reports. Investors of record on Friday, November 7th will be paid a dividend of 0.06 per share by the technology company on Wednesday, November 26th. This represents a c) annualized dividend and a yield of 2.3%.

Richardson Electronics has a dividend payout ratio of 43.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect Richardson Electronics to earn $0.84 per share next year, which means the company should continue to be able to cover its $0.24 annual dividend with an expected future payout ratio of 28.6%.

Richardson Electronics Stock Up 7.8%

RELL traded up $0.77 during trading hours on Wednesday, hitting $10.61. 647,880 shares of the company's stock were exchanged, compared to its average volume of 54,305. Richardson Electronics has a 1-year low of $7.57 and a 1-year high of $15.51. The stock's 50-day moving average is $9.81 and its two-hundred day moving average is $9.59. The stock has a market cap of $153.74 million, a price-to-earnings ratio of -132.61, a PEG ratio of 2.33 and a beta of 0.97.

Richardson Electronics (NASDAQ:RELL - Get Free Report) last posted its quarterly earnings results on Wednesday, October 8th. The technology company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.11. Richardson Electronics had a negative net margin of 0.55% and a positive return on equity of 2.07%. On average, equities research analysts anticipate that Richardson Electronics will post 0.27 EPS for the current year.

About Richardson Electronics

Richardson Electronics, Ltd. engages in the provision of engineered solutions, power grid and microwave tube, and related consumables worldwide. The Power and Microwave Technologies segment manufactures electron tubes and radio frequency (RF), microwave and power components used in semiconductor manufacturing equipment, RF, and wireless and industrial power applications, as well as various applications including broadcast transmission, CO2 laser cutting, diagnostic imaging, dielectric and induction heating, energy transfer, high voltage switching, plasma, power conversion, radar, and radiation oncology.

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