Methode Electronics Inc. (MEI) to Issue Quarterly Dividend of $0.11

Methode Electronics Inc. (NYSE:MEI) declared a quarterly dividend on Friday, December 15th, Zacks reports. Shareholders of record on Friday, January 12th will be paid a dividend of 0.11 per share by the electronics maker on Friday, January 26th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date of this dividend is Thursday, January 11th. This is a positive change from Methode Electronics’s previous quarterly dividend of $0.09.

Methode Electronics has raised its dividend payment by an average of 1.9% annually over the last three years. Methode Electronics has a payout ratio of 17.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Methode Electronics to earn $2.98 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 14.8%.

Methode Electronics (MEI) opened at $41.25 on Wednesday. Methode Electronics has a 52 week low of $36.05 and a 52 week high of $48.44. The firm has a market capitalization of $1,580.00, a price-to-earnings ratio of 16.91, a price-to-earnings-growth ratio of 1.06 and a beta of 0.78. The company has a current ratio of 3.74, a quick ratio of 3.22 and a debt-to-equity ratio of 0.17.

Methode Electronics (NYSE:MEI) last issued its quarterly earnings results on Thursday, December 7th. The electronics maker reported $0.64 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.64. Methode Electronics had a return on equity of 17.07% and a net margin of 10.81%. The company had revenue of $230.10 million for the quarter, compared to analyst estimates of $218.03 million. During the same quarter in the prior year, the company posted $0.66 EPS. The business’s revenue for the quarter was up 9.9% compared to the same quarter last year. sell-side analysts expect that Methode Electronics will post 2.58 earnings per share for the current year.

A number of research analysts have weighed in on the company. Zacks Investment Research lowered Methode Electronics from a “buy” rating to a “hold” rating in a research note on Thursday, December 21st. ValuEngine downgraded Methode Electronics from a “buy” rating to a “hold” rating in a report on Thursday, December 7th. B. Riley restated a “buy” rating and set a $49.00 price objective on shares of Methode Electronics in a report on Tuesday, December 5th. Finally, Robert W. Baird restated a “buy” rating and set a $46.00 price objective on shares of Methode Electronics in a report on Tuesday, October 17th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. Methode Electronics currently has a consensus rating of “Hold” and a consensus target price of $49.50.

In related news, VP Joseph Elias Khoury sold 21,400 shares of the stock in a transaction on Friday, December 21st. The stock was sold at an average price of $40.30, for a total value of $862,420.00. Following the completion of the sale, the vice president now directly owns 267,200 shares in the company, valued at approximately $10,768,160. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Isabelle C. Goossen sold 2,500 shares of the stock in a transaction on Wednesday, December 20th. The shares were sold at an average price of $40.50, for a total value of $101,250.00. Following the completion of the sale, the director now owns 40,950 shares of the company’s stock, valued at $1,658,475. The disclosure for this sale can be found here. Corporate insiders own 4.40% of the company’s stock.

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About Methode Electronics

Methode Electronics, Inc (Methode) is a manufacturer of component and subsystem devices. The Company designs, manufactures and markets devices employing electrical, radio remote control, electronic, wireless and sensing technologies. The Company operates through segments, including Automotive, Interface, Power Products and Other.

Dividend History for Methode Electronics (NYSE:MEI)

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