The Marzetti Company (NASDAQ:MZTI) Announces Quarterly Dividend of $1.05

The Marzetti Company (NASDAQ:MZTI) announced a quarterly dividend on Wednesday, November 11th. Shareholders of record on Friday, December 4th will be paid a dividend of $1.05 per share on Thursday, December 31st. This represents a $4.20 annualized dividend and a yield of 3.8%. The ex-dividend date is Friday, December 4th. This is a 5.0% increase from Marzetti’s previous quarterly dividend of $1.00.

Marzetti has raised its dividend by an average of 0.1% per year over the last three years and has raised its dividend annually for the last 62 consecutive years. Marzetti has a payout ratio of 56.6% meaning its dividend is sufficiently covered by earnings.

Marzetti Trading Up 2.0%

Shares of MZTI stock opened at $111.49 on Thursday. The firm has a fifty day moving average of $104.42 and a 200-day moving average of $122.81. The stock has a market cap of $3.04 billion, a price-to-earnings ratio of 17.43 and a beta of 0.34. Marzetti has a 52-week low of $97.00 and a 52-week high of $176.26. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.66 and a current ratio of 1.53.

Marzetti (NASDAQ:MZTI) last posted its quarterly earnings results on Tuesday, November 3rd. The company reported $1.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.23). The business had revenue of $481.52 million during the quarter. Marzetti had a return on equity of 16.46% and a net margin of 9.06%. The firm’s quarterly revenue was down 2.4% on a year-over-year basis. During the same period in the previous year, the business earned $1.74 earnings per share.

Marzetti Company Profile

The Marzetti Company (NASDAQ: MZTI), formerly Lancaster Colony Corporation, is a specialty food manufacturer headquartered in Columbus, Ohio. Its history traces to Teresa Marzetti’s Italian restaurant, which opened in Columbus in 1896; the company adopted The Marzetti Company name in 2023. The company makes branded and private-label products for grocery retailers and foodservice customers. Its offerings include salad dressings, dips, croutons, frozen garlic bread, rolls and other specialty breads and baked goods.