Virco Manufacturing Corporation (NASDAQ:VIRC) Plans $0.03 Quarterly Dividend

Virco Manufacturing Corporation (NASDAQ:VIRC) announced a quarterly dividend on Thursday, September 3rd. Investors of record on Friday, September 18th will be paid a dividend of 0.025 per share on Friday, October 9th. This represents a c) dividend on an annualized basis and a yield of 1.5%. The ex-dividend date is Friday, September 18th.

Virco Manufacturing has a payout ratio of 11.5% meaning its dividend is sufficiently covered by earnings.

Virco Manufacturing Stock Performance

Virco Manufacturing stock traded up $0.47 during midday trading on Friday, hitting $6.52. 87,466 shares of the company’s stock were exchanged, compared to its average volume of 49,761. Virco Manufacturing has a 12-month low of $5.16 and a 12-month high of $8.90. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.90 and a current ratio of 2.71. The stock has a market cap of $102.56 million, a price-to-earnings ratio of -108.65 and a beta of 0.20. The firm’s 50 day simple moving average is $6.07 and its 200 day simple moving average is $6.10.

Virco Manufacturing (NASDAQ:VIRC) last announced its earnings results on Friday, September 4th. The company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.48. Virco Manufacturing had a negative net margin of 0.48% and a negative return on equity of 0.16%.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Virco Manufacturing in a research note on Wednesday, July 8th. Freedom Capital downgraded Virco Manufacturing from a “strong-buy” rating to a “hold” rating in a research note on Thursday, June 4th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Virco Manufacturing presently has an average rating of “Reduce”.

Virco Manufacturing Company Profile

Virco Manufacturing Corporation (NASDAQ: VIRC) is a leading American manufacturer of furniture, primarily serving the K-12 education market. Headquartered in Torrance, California, the company designs, produces and distributes a comprehensive range of classroom seating, student desks, tables and educational workstations. Over several decades, Virco has built a reputation for durable, cost-effective solutions tailored to the needs of schools, colleges and other institutional customers.

The company’s product portfolio includes molded plastic and wood-seat student chairs, modular and fixed-height desks, multi-purpose tables, computer furniture, laboratory stools and teacher furnishings.