Bio-Techne Corp (TECH) to Issue Quarterly Dividend of $0.08 on November 23rd

Bio-Techne Corp (NASDAQ:TECH) declared a quarterly dividend on Tuesday, November 3rd. Shareholders of record on Friday, November 13th will be paid a dividend of $0.08 per share by the biotechnology company on Monday, November 23rd. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Friday, November 13th. This is a 87.7% decrease from Bio-Techne’s previous quarterly dividend of $0.65.

Bio-Techne has a dividend payout ratio of 15.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect Bio-Techne to earn $1.97 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 16.2%.

Bio-Techne Trading Down 0.0%

Shares of NASDAQ TECH opened at $72.82 on Wednesday. The company has a market cap of $11.44 billion, a P/E ratio of 63.32, a P/E/G ratio of 5.28 and a beta of 1.29. Bio-Techne has a 12-month low of $43.19 and a 12-month high of $72.88. The stock has a fifty day moving average price of $72.50 and a 200 day moving average price of $63.41.

Bio-Techne (NASDAQ:TECH) last issued its quarterly earnings data on Friday, November 6th. The biotechnology company reported $0.44 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.44. The company had revenue of $299.71 million during the quarter, compared to the consensus estimate of $292.60 million. Bio-Techne had a net margin of 14.00% and a return on equity of 11.56%. On average, sell-side analysts forecast that Bio-Techne will post 1.75 EPS for the current fiscal year.

Bio-Techne Company Profile

Bio-Techne is a life sciences company that develops and supplies products and services used in biological research, drug development, and clinical diagnostics. Its offerings include proteins, antibodies, immunoassays, and small molecules, as well as instruments and analytical tools for studying cells and biological processes. The company also provides technologies for protein analysis, molecular diagnostics, and spatial biology. Its portfolio includes products and services associated with brands such as R&D Systems, Tocris, ProteinSimple, and Advanced Cell Diagnostics.