Lifetime Brands Inc (NASDAQ:LCUT) Plans Dividend Increase – $0.04 Per Share

Lifetime Brands Inc (NASDAQ:LCUT) declared a quarterly dividend on Thursday, June 27th, Zacks reports. Stockholders of record on Thursday, August 1st will be paid 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 boost from Lifetime Brands’s previous quarterly dividend of $0.04.

Lifetime Brands has raised its dividend payment by an average of 3.1% annually 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 NASDAQ:LCUT opened at $7.78 on Tuesday. The stock has a market capitalization of $164.87 million, a price-to-earnings ratio of 27.79, a PEG ratio of 0.94 and a beta of 1.28. The stock’s 50 day moving average is $9.09. Lifetime Brands has a one year low of $7.15 and a one year high of $12.40. The company has a current ratio of 2.96, a quick ratio of 1.12 and a debt-to-equity ratio of 1.36.

Lifetime Brands (NASDAQ:LCUT) last issued its earnings results on Thursday, August 8th. The company reported ($0.22) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.14) by ($0.08). The company 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, sell-side analysts expect that Lifetime Brands will post 0.56 EPS for the current fiscal year.

In other news, major shareholder Centre Partners V, L.P. bought 44,502 shares of the stock in a transaction on Wednesday, May 15th. The stock was bought at an average cost of $9.50 per share, for a total transaction of $422,769.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 44.70% of the stock is owned by company insiders.

Several equities analysts recently issued reports on the stock. Zacks Investment Research raised shares of Lifetime Brands from a “sell” rating to a “hold” rating in a report on Thursday, July 11th. ValuEngine lowered shares of Lifetime Brands from a “hold” rating to a “sell” rating in a report on Monday, June 3rd.

Lifetime Brands Company Profile

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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