Matthews International Co. (NASDAQ:MATW) Raises Dividend to $0.25 Per Share

Matthews International Co. (NASDAQ:MATW) declared a quarterly dividend on Friday, November 22nd,Wall Street Journal reports. Stockholders of record on Monday, December 2nd will be paid a dividend of 0.25 per share on Monday, December 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.24%. The ex-dividend date is Monday, December 2nd. This is a boost from Matthews International’s previous quarterly dividend of $0.24.

Matthews International has raised its dividend by an average of 3.3% annually over the last three years and has increased its dividend every year for the last 29 years. Matthews International has a dividend payout ratio of 58.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Matthews International to earn $1.93 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 51.8%.

Matthews International Trading Up 21.0 %

Shares of NASDAQ:MATW traded up $5.35 during trading on Friday, reaching $30.84. 597,891 shares of the company were exchanged, compared to its average volume of 155,501. The firm has a market capitalization of $943.70 million, a PE ratio of 36.14 and a beta of 1.06. The business’s fifty day simple moving average is $23.13 and its 200-day simple moving average is $25.23. Matthews International has a 12-month low of $21.09 and a 12-month high of $39.12. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.66 and a quick ratio of 1.02.

Wall Street Analyst Weigh In

Separately, B. Riley reduced their target price on shares of Matthews International from $54.00 to $40.00 and set a “buy” rating on the stock in a research report on Thursday, September 26th.

About Matthews International

Matthews International Corporation provides brand solutions, memorialization products, and industrial technologies worldwide. It operates through three segments: Memorialization, Industrial Technologies, and SGK Brand Solutions. The Memorialization segment provides bronze and granite memorials, upright granite memorials and monuments, concrete burial vaults, cremation memorialization products, granite benches, flower vases, crypt plates and letters, cremation urns, niche units, cemetery features, and statues, as well as bronze plaques, letters, emblems, vases, lights and photo ceramics, granite monuments, mausoleums, crypts, and flush memorials.