Methode Electronics, Inc. (MEI) to Issue Quarterly Dividend of $0.05 on July 31st

Methode Electronics, Inc. (NYSE:MEI) declared a quarterly dividend on Wednesday, June 10th. Stockholders of record on Friday, July 17th will be given a dividend of 0.05 per share by the electronics maker on Friday, July 31st. This represents a c) dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Friday, July 17th.

Methode Electronics has raised its dividend payment by an average of 0.0%annually over the last three years. Methode Electronics has a payout ratio of 25.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Methode Electronics to earn ($0.75) per share next year, which means the company may not be able to cover its $0.20 annual dividend with an expected future payout ratio of -26.7%.

Methode Electronics Stock Performance

MEI stock opened at $11.41 on Friday. The business’s fifty day moving average is $9.27 and its 200-day moving average is $7.98. The company has a quick ratio of 1.55, a current ratio of 2.41 and a debt-to-equity ratio of 0.50. The company has a market cap of $404.11 million, a P/E ratio of -6.27 and a beta of 1.59. Methode Electronics has a twelve month low of $4.88 and a twelve month high of $15.55.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Methode Electronics in a research note on Tuesday, April 21st. Two investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Methode Electronics currently has an average rating of “Reduce” and an average target price of $8.50.

Methode Electronics Company Profile

Methode Electronics, Inc is a Chicago-based global manufacturer of custom-engineered electronic and electromechanical components and assemblies. Founded in 1946, Methode specializes in providing solutions that integrate electrical connectors, sensors, switches, human-machine interface devices and power distribution modules. The company’s product portfolio addresses complex application requirements across a broad range of end markets, including automotive, industrial, energy, healthcare and data/telecommunications.

In its automotive segment, Methode develops advanced connector systems, circuit protection devices and thermal management solutions for internal combustion, hybrid and electric vehicles.