Matthews International Co. (NASDAQ:MATW) Increases 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% per year over the last three years and has raised its dividend annually for the last 29 consecutive years. Matthews International has a dividend payout ratio of 58.1% indicating that 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 Stock Performance

MATW stock traded up $5.35 during trading on Friday, reaching $30.84. The company had a trading volume of 598,199 shares, compared to its average volume of 155,503. The firm has a 50-day simple moving average of $23.13 and a 200-day simple moving average of $25.23. The company has a market cap of $943.70 million, a price-to-earnings ratio of 36.14 and a beta of 1.06. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.02 and a current ratio of 1.66. Matthews International has a twelve month low of $21.09 and a twelve month high of $39.12.

Analyst Ratings Changes

Separately, B. Riley lowered their target price on shares of Matthews International from $54.00 to $40.00 and set a “buy” rating for the company in a research note 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.