Steelcase Inc. (NYSE:SCS) announced a quarterly dividend on Wednesday, December 20th, Wall Street Journal reports. Stockholders of record on Friday, December 29th will be given a dividend of 0.1275 per share by the business services provider on Monday, January 15th. This represents a $0.51 annualized dividend and a dividend yield of 3.45%. The ex-dividend date of this dividend is Thursday, December 28th.

Steelcase has raised its dividend payment by an average of 16.3% per year over the last three years and has increased its dividend annually for the last 6 consecutive years. Steelcase has a dividend payout ratio of 63.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Steelcase to earn $0.97 per share next year, which means the company should continue to be able to cover its $0.51 annual dividend with an expected future payout ratio of 52.6%.

Steelcase (NYSE SCS) remained flat at $$14.80 during trading on Friday. The company’s stock had a trading volume of 730,498 shares, compared to its average volume of 821,829. Steelcase has a twelve month low of $12.50 and a twelve month high of $18.15. The company has a market cap of $1,717.30, a price-to-earnings ratio of 16.63 and a beta of 1.25. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.58 and a quick ratio of 1.28.

Steelcase (NYSE:SCS) last released its quarterly earnings data on Tuesday, December 19th. The business services provider reported $0.22 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.22. Steelcase had a net margin of 3.49% and a return on equity of 13.62%. The company had revenue of $772.10 million during the quarter, compared to analyst estimates of $762.37 million. During the same quarter in the prior year, the business earned $0.30 earnings per share. The business’s quarterly revenue was down 1.8% compared to the same quarter last year. sell-side analysts anticipate that Steelcase will post 0.81 earnings per share for the current year.

In related news, VP Sara E. Armbruster sold 3,000 shares of the firm’s stock in a transaction on Friday, December 22nd. The shares were sold at an average price of $14.80, for a total transaction of $44,400.00. Following the completion of the sale, the vice president now directly owns 69,870 shares of the company’s stock, valued at approximately $1,034,076. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 18.87% of the stock is currently owned by company insiders.

A number of equities research analysts recently weighed in on the stock. Zacks Investment Research lowered shares of Steelcase from a “hold” rating to a “sell” rating in a report on Tuesday, December 12th. Sidoti lowered shares of Steelcase from a “buy” rating to a “neutral” rating and set a $16.00 price target for the company. in a report on Wednesday, September 20th. ValuEngine lowered shares of Steelcase from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Finally, TheStreet raised shares of Steelcase from a “c+” rating to a “b-” rating in a report on Tuesday, October 3rd. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $16.00.

COPYRIGHT VIOLATION NOTICE: This story was published by Daily Political and is the sole property of of Daily Political. If you are accessing this story on another publication, it was copied illegally and reposted in violation of US and international copyright and trademark law. The correct version of this story can be accessed at https://www.dailypolitical.com/2017/12/23/steelcase-inc-scs-to-go-ex-dividend-on-december-28th.html.

About Steelcase

Steelcase Inc provides an integrated portfolio of furniture settings, user-centered technologies and interior architectural products. The Company’s segments include Americas, EMEA and Other Category. The Company’s furniture portfolio includes panel-based and freestanding furniture systems and complementary products, such as storage, tables and ergonomic worktools.

Dividend History for Steelcase (NYSE:SCS)

Receive News & Ratings for Steelcase Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Steelcase and related companies with MarketBeat.com's FREE daily email newsletter.