The Shyft Group, Inc. to Issue Quarterly Dividend of $0.05 (NASDAQ:SHYF)

The Shyft Group, Inc. (NASDAQ:SHYF) declared a quarterly dividend on Wednesday, October 30th,Zacks Dividends reports. Shareholders of record on Friday, November 15th will be given a dividend of 0.05 per share on Monday, December 16th. This represents a $0.20 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date of this dividend is Friday, November 15th.

The Shyft Group has raised its dividend by an average of 26.0% per year over the last three years. The Shyft Group has a dividend payout ratio of 26.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect The Shyft Group to earn $0.68 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 29.4%.

The Shyft Group Stock Down 0.5 %

SHYF opened at $14.38 on Thursday. The company has a quick ratio of 1.16, a current ratio of 1.82 and a debt-to-equity ratio of 0.44. The stock has a market cap of $495.97 million, a price-to-earnings ratio of -119.83 and a beta of 1.63. The Shyft Group has a twelve month low of $9.81 and a twelve month high of $17.56. The company’s 50-day moving average price is $12.73 and its two-hundred day moving average price is $12.68.

Wall Street Analyst Weigh In

Separately, DA Davidson raised shares of The Shyft Group from a “neutral” rating to a “buy” rating and boosted their price target for the company from $12.00 to $18.00 in a research report on Monday, July 29th.

About The Shyft Group

The Shyft Group, Inc engages in the manufacture and assembly of specialty vehicles for the commercial and recreational vehicle industries in the United States and internationally. It operates in two segments, Fleet Vehicles and Services, and Specialty Vehicles. The Fleet Vehicles and Services segment offers commercial vehicles used in the e-commerce/last mile/parcel delivery, beverage and grocery delivery, laundry and linen, mobile retail, and trades and construction industries.