Olympic Steel, Inc. (ZEUS) Announces $0.02 Quarterly Dividend
Olympic Steel, Inc. (NASDAQ:ZEUS) announced a quarterly dividend on Friday, November 9th, Wall Street Journal reports. Investors of record on Monday, December 3rd will be given a dividend of 0.02 per share by the basic materials company on Monday, December 17th. This represents a $0.08 annualized dividend and a yield of 0.40%. The ex-dividend date of this dividend is Friday, November 30th.
Olympic Steel has a dividend payout ratio of 2.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Olympic Steel to earn $2.22 per share next year, which means the company should continue to be able to cover its $0.08 annual dividend with an expected future payout ratio of 3.6%.
Olympic Steel stock opened at $20.12 on Friday. The stock has a market cap of $221.93 million, a P/E ratio of 8.58 and a beta of 1.73. Olympic Steel has a 52 week low of $17.40 and a 52 week high of $25.84. The company has a current ratio of 3.67, a quick ratio of 1.37 and a debt-to-equity ratio of 1.00.
Several brokerages have commented on ZEUS. Zacks Investment Research lowered Olympic Steel from a “buy” rating to a “hold” rating in a report on Friday, August 17th. BidaskClub lowered Olympic Steel from a “buy” rating to a “hold” rating in a report on Saturday, July 28th. Finally, ValuEngine lowered Olympic Steel from a “sell” rating to a “strong sell” rating in a report on Friday, September 28th.
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Olympic Steel Company Profile
Olympic Steel, Inc processes and distributes metal products in the United States and internationally. It operates in three segments: Carbon Flat Products; Specialty Metals Flat Products; and Tubular and Pipe Products. The Carbon Flat Products segment sells and distributes processed carbon and coated flat-rolled sheets, coil and plate products, and fabricated parts.
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