Lifetime Brands Inc (NASDAQ:LCUT) to Issue Quarterly Dividend of $0.04

Lifetime Brands Inc (NASDAQ:LCUT) announced a quarterly dividend on Thursday, June 27th, Zacks reports. Stockholders of record on Thursday, August 1st will be given a dividend of 0.043 per share on Thursday, August 15th. This represents a $0.17 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date of this dividend is Wednesday, July 31st. This is a positive change from Lifetime Brands’s previous quarterly dividend of $0.04.

Lifetime Brands has increased its dividend payment by an average of 3.1% per year over the last three years. Lifetime Brands has a dividend payout ratio of 19.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect Lifetime Brands to earn $1.36 per share next year, which means the company should continue to be able to cover its $0.17 annual dividend with an expected future payout ratio of 12.5%.

Shares of LCUT stock opened at $7.78 on Tuesday. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.12 and a current ratio of 2.96. The firm has a market cap of $164.87 million, a PE ratio of 27.79, a price-to-earnings-growth ratio of 0.94 and a beta of 1.28. The firm’s 50-day moving average price is $9.09. Lifetime Brands has a twelve month low of $7.15 and a twelve month high of $12.40.

Lifetime Brands (NASDAQ:LCUT) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.14) by ($0.08). The business had revenue of $142.54 million for the quarter, compared to analysts’ expectations of $153.11 million. Lifetime Brands had a positive return on equity of 3.99% and a negative net margin of 0.06%. On average, analysts expect that Lifetime Brands will post 0.56 EPS for the current fiscal year.

A number of analysts have issued reports on LCUT shares. ValuEngine lowered shares of Lifetime Brands from a “hold” rating to a “sell” rating in a research note on Monday, June 3rd. Zacks Investment Research upgraded shares of Lifetime Brands from a “sell” rating to a “hold” rating in a research note on Thursday, July 11th.

In other news, major shareholder Centre Partners V, L.P. bought 63,906 shares of the business’s stock in a transaction that occurred on Friday, May 17th. The shares were purchased at an average cost of $9.59 per share, for a total transaction of $612,858.54. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 44.70% of the stock is currently owned by corporate insiders.

About Lifetime Brands

Lifetime Brands, Inc designs, sources, and sells branded kitchenware, tableware, and other products for use in the home in the United States and internationally. The company operates through two segments, U.S. and International. It offers kitchenware products, including kitchen tools and gadgets, cutlery, cutting boards, shears, cookware, pantryware, spice racks, and bakeware, as well as kitchen scales; and tableware products comprising dinnerware, stemware, flatware, and giftware.

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Dividend History for Lifetime Brands (NASDAQ:LCUT)

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