China Automotive Systems, Inc. (NASDAQ:CAAS) to Issue $0.80 Quarterly Dividend

China Automotive Systems, Inc. (NASDAQ:CAAS) announced a quarterly dividend on Friday, July 19th, RTT News reports. Stockholders of record on Tuesday, July 30th will be paid a dividend of 0.80 per share by the auto parts company on Thursday, August 22nd. This represents a $3.20 dividend on an annualized basis and a dividend yield of 69.41%. The ex-dividend date is Tuesday, July 30th.

China Automotive Systems Stock Up 1.8 %

Shares of CAAS stock opened at $4.61 on Monday. The company has a 50 day moving average price of $3.79 and a 200-day moving average price of $3.56. China Automotive Systems has a 52 week low of $3.04 and a 52 week high of $5.64. The firm has a market capitalization of $139.18 million, a PE ratio of 3.57 and a beta of 2.47.

China Automotive Systems (NASDAQ:CAAS) last announced its quarterly earnings results on Tuesday, May 14th. The auto parts company reported $0.27 EPS for the quarter. China Automotive Systems had a net margin of 6.82% and a return on equity of 10.84%. The firm had revenue of $139.39 million during the quarter.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded China Automotive Systems from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 25th.

About China Automotive Systems

China Automotive Systems, Inc, through its subsidiaries, manufactures and sells automotive systems and components in the People's Republic of China, the United States, and internationally. It produces rack and pinion power steering gears for cars and light-duty vehicles; integral power steering gears for heavy-duty vehicles; power steering parts for light duty vehicles; sensor modules; automobile steering systems and columns; and automobile electronics and systems and parts.