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

Matthews International Co. (NASDAQ:MATW) announced a quarterly dividend on Wednesday, November 20th,Wall Street Journal reports. Investors of record on Monday, December 2nd will be given a dividend of 0.25 per share on Monday, December 16th. This represents a $1.00 dividend on an annualized basis and a 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 increased its dividend payment by an average of 3.3% annually over the last three years and has increased its dividend annually for the last 29 consecutive years. Matthews International has a payout ratio of 58.1% meaning its dividend is sufficiently covered by earnings. Equities research 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 %

Matthews International stock traded up $5.35 during mid-day trading on Friday, hitting $30.84. 598,199 shares of the company’s stock were exchanged, compared to its average volume of 155,503. The firm has a market capitalization of $943.70 million, a P/E ratio of 36.14 and a beta of 1.06. The company has a quick ratio of 1.02, a current ratio of 1.66 and a debt-to-equity ratio of 1.64. The company’s 50 day simple moving average is $23.13 and its 200-day simple moving average is $25.23. Matthews International has a fifty-two week low of $21.09 and a fifty-two week high of $39.12.

Analyst Ratings Changes

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

Matthews International Company Profile

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.