Matthews International Co. (NASDAQ:MATW) Declares Dividend Increase – $0.25 Per Share

Matthews International Co. (NASDAQ:MATW) declared a quarterly dividend on Wednesday, November 20th,Wall Street Journal reports. Stockholders 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 dividend yield of 3.24%. The ex-dividend date of this dividend is Monday, December 2nd. This is a boost from Matthews International’s previous quarterly dividend of $0.24.

Matthews International has increased its dividend 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% 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 Price Performance

NASDAQ MATW traded up $5.35 during trading on Friday, reaching $30.84. 598,199 shares of the company traded hands, compared to its average volume of 155,503. Matthews International has a 1-year low of $21.09 and a 1-year high of $39.12. 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 stock’s 50 day moving average price is $23.13 and its two-hundred day moving average price is $25.23. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.02 and a current ratio of 1.66.

Analyst Ratings Changes

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