Patria Investments Limited Announces Quarterly Dividend of $0.15 (NYSE:PAX)

Patria Investments Limited (NYSE:PAX) declared a quarterly dividend on Thursday, February 13th,Wall Street Journal reports. Investors of record on Friday, February 28th will be paid a dividend of 0.15 per share on Monday, March 17th. This represents a $0.60 dividend on an annualized basis and a yield of 4.72%. The ex-dividend date is Friday, February 28th.

Patria Investments has increased its dividend payment by an average of 7.2% annually over the last three years. Patria Investments has a dividend payout ratio of 42.9% indicating that its dividend is sufficiently covered by earnings. Analysts expect Patria Investments to earn $1.39 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 43.2%.

Patria Investments Stock Performance

PAX stock traded up $0.23 on Thursday, reaching $12.72. 841,332 shares of the company were exchanged, compared to its average volume of 503,060. Patria Investments has a 12 month low of $10.63 and a 12 month high of $16.16. The stock’s fifty day moving average price is $11.82 and its 200 day moving average price is $11.70. The firm has a market capitalization of $760.27 million, a PE ratio of 29.58, a PEG ratio of 1.23 and a beta of 0.58. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.88 and a quick ratio of 0.88.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group dropped their target price on shares of Patria Investments from $16.00 to $14.00 and set a “buy” rating on the stock in a research report on Tuesday, October 22nd.

Patria Investments Company Profile

Patria Investments Limited operates as a private market investment firm focused on investing in Latin America. The company offers asset management services to investors focusing on private equity funds, infrastructure development funds, co-investments funds, constructivist equity funds, and real estate and credit funds.