Resources Connection, Inc. (NASDAQ:RGP) to Issue Quarterly Dividend of $0.07

Resources Connection, Inc. (NASDAQ:RGP) announced a quarterly dividend on Tuesday, October 27th. Shareholders of record on Thursday, November 19th will be paid a dividend of $0.07 per share on Thursday, December 17th. This represents a $0.28 annualized dividend and a dividend yield of 10.6%. The ex-dividend date is Thursday, November 19th.

Resources Connection has decreased its dividend payment by an average of 0.1% per year over the last three years. Resources Connection has a dividend payout ratio of 53.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Resources Connection to earn ($0.34) per share next year, which means the company may not be able to cover its $0.28 annual dividend with an expected future payout ratio of -82.4%.

Resources Connection Trading Down 1.1%

Shares of NASDAQ RGP opened at $2.63 on Wednesday. The stock has a 50 day simple moving average of $3.65 and a 200-day simple moving average of $4.04. Resources Connection has a 12-month low of $2.33 and a 12-month high of $5.36.

Resources Connection (NASDAQ:RGP) last announced its earnings results on Wednesday, October 7th. The company reported ($0.16) earnings per share for the quarter, beating the consensus estimate of ($0.17) by $0.01. The business had revenue of $98.09 million for the quarter, compared to the consensus estimate of $99.98 million. As a group, equities analysts forecast that Resources Connection will post -0.71 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Weiss Ratings cut shares of Resources Connection from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, October 8th. Wall Street Zen lowered shares of Resources Connection from a “hold” rating to a “sell” rating in a research report on Sunday, October 11th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Reduce”.

Resources Connection Company Profile

Resources Connection, Inc (NASDAQ:RGP) is a professional services and consulting company that helps organizations address complex business, operational and regulatory needs. Through its Resources Global Professionals business, the company provides project-based consultants and consulting solutions to clients across a range of corporate functions.

Its services include accounting and finance, internal audit and risk management, compliance, legal and regulatory affairs, information technology, human resources, supply chain management, and other operational and business transformation initiatives.