Cal-Maine Foods, Inc. (NASDAQ:CALM) to Issue Quarterly Dividend of $0.72

Cal-Maine Foods, Inc. (NASDAQ:CALM) announced a quarterly dividend on Wednesday, January 7th. Investors of record on Wednesday, January 28th will be paid a dividend of 0.72 per share by the basic materials company on Thursday, February 12th. This represents a c) dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date is Wednesday, January 28th.

Cal-Maine Foods has a dividend payout ratio of 168.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Cal-Maine Foods to earn $4.69 per share next year, which means the company may not be able to cover its $5.51 annual dividend with an expected future payout ratio of 117.5%.

Cal-Maine Foods Stock Performance

CALM stock traded down $1.27 during midday trading on Wednesday, reaching $77.81. The company’s stock had a trading volume of 3,147,936 shares, compared to its average volume of 1,853,526. Cal-Maine Foods has a 1 year low of $74.74 and a 1 year high of $126.40. The firm has a market capitalization of $3.77 billion, a price-to-earnings ratio of 2.99 and a beta of 0.26. The stock has a fifty day simple moving average of $85.30 and a two-hundred day simple moving average of $96.86.

Cal-Maine Foods (NASDAQ:CALM) last posted its quarterly earnings results on Wednesday, January 7th. The basic materials company reported $2.13 EPS for the quarter, missing the consensus estimate of $2.17 by ($0.04). The company had revenue of $769.50 million during the quarter, compared to analysts’ expectations of $828.46 million. Cal-Maine Foods had a return on equity of 52.31% and a net margin of 28.86%.The company’s quarterly revenue was down 19.4% on a year-over-year basis. During the same period in the prior year, the business earned $4.47 EPS. As a group, analysts forecast that Cal-Maine Foods will post 15.59 EPS for the current fiscal year.

About Cal-Maine Foods

Cal-Maine Foods, Inc, together with its subsidiaries, produces, grades, packages, markets, and distributes shell eggs. The company offers specialty shell eggs, such as nutritionally enhanced, cage free, organic, free-range, pasture-raised, and brown eggs under the Egg-Land's Best, Land O' Lakes, Farmhouse Eggs, Sunups, Sunny Meadow, and 4Grain brand names. It sells its products to various customers, including national and regional grocery store chains, club stores, independent supermarkets, foodservice distributors, and egg product consumers primarily in the southwestern, southeastern, mid-western, and mid-Atlantic regions of the United States.