Steelcase Inc. (NYSE:SCS) Announces Quarterly Dividend of $0.10

Key Points

• Steelcase Inc. has declared a quarterly dividend of $0.10 per share, with an ex-dividend date of October 6th and a payment date of October 20th, representing a yield of 2.4%.
• The company reported earnings of $0.45 per share for the last quarter, surpassing estimates, and a year-over-year revenue increase of 4.8% to $897.10 million.
• Steelcase maintains a conservative dividend payout ratio of 31.3%, indicating sustainable earnings coverage for its dividend commitment.

Steelcase Inc. (NYSE:SCS - Get Free Report) declared a quarterly dividend on Wednesday, September 24th. Investors of record on Monday, October 6th will be given a dividend of 0.10 per share by the business services provider on Monday, October 20th. This represents a c) dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Monday, October 6th.

Steelcase has a dividend payout ratio of 31.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect Steelcase to earn $1.06 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 37.7%.

Steelcase Trading Down 1.1%

Shares of Steelcase stock opened at $16.69 on Thursday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.65 and a quick ratio of 1.15. The business has a fifty day simple moving average of $15.10 and a two-hundred day simple moving average of $12.07. Steelcase has a 1 year low of $9.31 and a 1 year high of $17.25. The company has a market capitalization of $1.91 billion, a price-to-earnings ratio of 16.20, a P/E/G ratio of 1.61 and a beta of 1.26.

Steelcase (NYSE:SCS - Get Free Report) last released its quarterly earnings data on Wednesday, September 24th. The business services provider reported $0.45 EPS for the quarter, beating the consensus estimate of $0.37 by $0.08. The firm had revenue of $897.10 million for the quarter, compared to the consensus estimate of $878.73 million. Steelcase had a net margin of 3.84% and a return on equity of 14.49%. The company's quarterly revenue was up 4.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.39 earnings per share. Research analysts forecast that Steelcase will post 1 EPS for the current year.

Steelcase Company Profile

Steelcase Inc provides a portfolio of furniture and architectural products and services in the United States and internationally. It operates through Americas and International segments. The company's furniture portfolio includes furniture systems, seating, storage, fixed and height-adjustable desks, benches, and tables, as well as complementary products, such as work accessories, lighting, mobile power, and screens.

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