The Marzetti Company Announces Quarterly Dividend of $0.95 (NASDAQ:MZTI)

Key Points

• The Marzetti Company has announced a quarterly dividend of $0.95 per share, which will be paid to stockholders of record on September 8th.
• The company has a payout ratio of 53.7%, indicating that the dividend is well-covered by earnings, with expected earnings of $7.31 per share next year.
• Marzetti's stock was up 1.3% on the day, trading at $183.05, with a market capitalization of $5.05 billion.

The Marzetti Company (NASDAQ:MZTI - Get Free Report) announced a quarterly dividend on Wednesday, August 13th, RTT News reports. Shareholders of record on Monday, September 8th will be given a dividend of 0.95 per share on Tuesday, September 30th. This represents a c) annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Monday, September 8th.

Marzetti has a dividend payout ratio of 53.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect Marzetti to earn $7.31 per share next year, which means the company should continue to be able to cover its $3.80 annual dividend with an expected future payout ratio of 52.0%.

Marzetti Stock Up 0.1%

Shares of NASDAQ:MZTI traded up $0.22 during trading on Monday, hitting $180.51. The stock had a trading volume of 104,574 shares, compared to its average volume of 113,821. Marzetti has a 12-month low of $156.14 and a 12-month high of $202.63. The stock has a market capitalization of $4.98 billion, a price-to-earnings ratio of 29.35 and a beta of 0.47. The stock has a 50-day simple moving average of $173.16 and a two-hundred day simple moving average of $176.79.

About Marzetti

Lancaster Colony Corporation engages in the manufacturing and marketing of specialty food products for the retail and foodservice channels in the United States. It operates in two segments, Retail and Foodservice. The company offers frozen garlic bread under the New York BRAND Bakery; frozen Parkerhouse style yeast and dinner rolls under the Sister Schubert's brand; salad dressings under the Marzetti, Simply Dressed, Cardini's, and Girard's brands; vegetable and fruit dips under the Marzetti brand; croutons and salad toppings under the New York BRAND Bakery, Chatham Village, and Marzetti brands; and frozen pasta under the Marzetti Frozen Pasta brand.