AVX Corporation Plans Quarterly Dividend of $0.11 (NYSE:AVX)

AVX Corporation (NYSE:AVX) announced a quarterly dividend on Thursday, August 3rd, NASDAQ reports. Investors of record on Wednesday, August 16th will be given a dividend of 0.11 per share by the electronics maker on Friday, September 1st. This represents a $0.44 annualized dividend and a yield of 2.63%. The ex-dividend date of this dividend is Monday, August 14th.

AVX Corporation has raised its dividend payment by an average of 8.0% annually over the last three years and has raised its dividend every year for the last 4 years. AVX Corporation has a payout ratio of 55.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect AVX Corporation to earn $0.80 per share next year, which means the company should continue to be able to cover its $0.44 annual dividend with an expected future payout ratio of 55.0%.

AVX Corporation (NYSE AVX) traded down 0.54% during midday trading on Friday, reaching $16.71. 267,118 shares of the company traded hands. AVX Corporation has a 12 month low of $13.08 and a 12 month high of $18.44. The firm’s 50 day moving average price is $17.27 and its 200 day moving average price is $16.53. The firm has a market capitalization of $2.81 billion, a price-to-earnings ratio of 21.99 and a beta of 0.81.

AVX Corporation (NYSE:AVX) last announced its quarterly earnings results on Wednesday, July 26th. The electronics maker reported $0.19 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.19. AVX Corporation had a net margin of 9.46% and a return on equity of 5.69%. The firm had revenue of $331.35 million during the quarter, compared to the consensus estimate of $328 million. During the same period last year, the firm posted $0.19 EPS. The firm’s quarterly revenue was up 5.3% on a year-over-year basis. On average, analysts expect that AVX Corporation will post $0.76 earnings per share for the current year.

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AVX has been the subject of several analyst reports. Zacks Investment Research raised shares of AVX Corporation from a “hold” rating to a “buy” rating and set a $19.00 price target for the company in a report on Thursday, July 13th. BidaskClub raised shares of AVX Corporation from a “sell” rating to a “hold” rating in a report on Thursday, August 3rd. Finally, Stifel Nicolaus reissued a “hold” rating and set a $17.00 price target on shares of AVX Corporation in a report on Friday, July 28th.

About AVX Corporation

AVX Corporation (AVX) is a manufacturer and supplier and reseller of a line of passive electronic components, interconnect devices and related products. AVX operates in three segments: Passive Components, Kyocera Electronic Devices (KED Resale) and Interconnect. The Passive Components segment consists of surface mount and leaded ceramic capacitors, surface mount and leaded tantalum capacitors, surface mount and leaded film capacitors, thick and thin film packages of multiple passive integrated components, thermistors, inductors and resistive products.

Dividend History for AVX Corporation (NYSE:AVX)

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