Office Depot Inc (ODP) Announces Quarterly Dividend of $0.03
Office Depot Inc (NASDAQ:ODP) announced a quarterly dividend on Wednesday, November 7th, RTT News reports. Investors of record on Friday, November 23rd will be given a dividend of 0.025 per share by the specialty retailer on Friday, December 14th. This represents a $0.10 annualized dividend and a dividend yield of 3.41%. The ex-dividend date of this dividend is Wednesday, November 21st.
Office Depot has a payout ratio of 28.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Office Depot to earn $0.38 per share next year, which means the company should continue to be able to cover its $0.10 annual dividend with an expected future payout ratio of 26.3%.
NASDAQ ODP opened at $2.93 on Tuesday. The company has a current ratio of 1.35, a quick ratio of 0.89 and a debt-to-equity ratio of 0.75. The company has a market cap of $1.70 billion, a P/E ratio of 6.51 and a beta of 2.65. Office Depot has a 1 year low of $2.00 and a 1 year high of $3.66.
Several research firms recently issued reports on ODP. BidaskClub upgraded shares of Office Depot from a “sell” rating to a “hold” rating in a research report on Wednesday, November 7th. ValuEngine upgraded shares of Office Depot from a “sell” rating to a “hold” rating in a research report on Thursday, August 2nd. Deutsche Bank set a $4.00 price target on shares of Office Depot and gave the stock a “hold” rating in a research report on Thursday, November 8th. Zacks Investment Research lowered shares of Office Depot from a “hold” rating to a “sell” rating in a research report on Monday, October 15th. Finally, Bank of America set a $5.00 target price on shares of Office Depot and gave the company a “buy” rating in a research report on Wednesday, November 7th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $4.17.
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About Office Depot
Office Depot, Inc, together with its subsidiaries, provides various products and services. It operates in three divisions: Retail, Business Solutions, and CompuCom. The Retail division operates retail stores, which offer office supplies; technology products and solutions; business machines and related supplies; print, cleaning, breakroom, and facilities products; and office furniture in the United States, Puerto Rico, and the U.S.
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