Methode Electronics, Inc. (NYSE:MEI) Plans $0.14 Quarterly Dividend

Methode Electronics, Inc. (NYSE:MEI) declared a quarterly dividend on Thursday, June 13th, NASDAQ reports. Stockholders of record on Friday, July 12th will be given a dividend of 0.14 per share by the electronics maker on Friday, July 26th. This represents a $0.56 annualized dividend and a dividend yield of 5.89%. The ex-dividend date of this dividend is Friday, July 12th.

Methode Electronics has raised its dividend by an average of 8.4% per year over the last three years. Methode Electronics has a dividend payout ratio of 56.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Methode Electronics to earn ($0.04) per share next year, which means the company may not be able to cover its $0.56 annual dividend with an expected future payout ratio of -1,400.0%.

Methode Electronics Stock Down 3.8 %

Shares of MEI traded down $0.38 during trading hours on Friday, hitting $9.50. The company had a trading volume of 607,491 shares, compared to its average volume of 496,716. The firm has a fifty day moving average price of $11.80 and a 200-day moving average price of $16.94. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.85 and a current ratio of 2.74. The stock has a market capitalization of $336.21 million, a price-to-earnings ratio of -5.79 and a beta of 0.78. Methode Electronics has a 52-week low of $8.54 and a 52-week high of $38.84.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Sidoti reaffirmed a “neutral” rating and issued a $17.00 price target on shares of Methode Electronics in a research report on Thursday, March 7th. Jefferies Financial Group assumed coverage on Methode Electronics in a research report on Tuesday, April 9th. They issued a “hold” rating and a $12.00 price target for the company.

About Methode Electronics

Methode Electronics, Inc designs, engineers, and produces mechatronic products worldwide. It operates through four segments: Automotive, Industrial, Interface, and Medical. The Automotive segment supplies electronic and electro-mechanical devices, and related products to automobile original equipment manufacturers directly or through their tiered suppliers.