Deluxe Co. to Issue Quarterly Dividend of $0.30 (DLX)

Deluxe Co. (NYSE:DLX) declared a quarterly dividend on Friday, October 26th, Wall Street Journal reports. Shareholders of record on Monday, November 19th will be given a dividend of 0.30 per share by the business services provider on Monday, December 3rd. This represents a $1.20 annualized dividend and a yield of 2.38%. The ex-dividend date is Friday, November 16th.

Deluxe has increased its dividend payment by an average of 1.4% per year over the last three years. Deluxe has a payout ratio of 20.9% meaning its dividend is sufficiently covered by earnings. Analysts expect Deluxe to earn $5.27 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 22.8%.

Shares of NYSE DLX traded up $0.07 during mid-day trading on Monday, reaching $50.42. The company’s stock had a trading volume of 353,800 shares, compared to its average volume of 355,127. The stock has a market capitalization of $2.33 billion, a price-to-earnings ratio of 9.57 and a beta of 0.99. The company has a quick ratio of 1.12, a current ratio of 1.25 and a debt-to-equity ratio of 0.93. Deluxe has a 1-year low of $43.72 and a 1-year high of $78.87.

Deluxe (NYSE:DLX) last issued its earnings results on Thursday, October 25th. The business services provider reported $1.36 EPS for the quarter, beating the Zacks’ consensus estimate of $1.28 by $0.08. The business had revenue of $493.20 million during the quarter. Deluxe had a net margin of 9.00% and a return on equity of 26.00%. As a group, equities research analysts expect that Deluxe will post 5.63 EPS for the current year.

DLX has been the subject of a number of recent research reports. TheStreet cut shares of Deluxe from a “b-” rating to a “c+” rating in a research report on Tuesday, August 21st. Buckingham Research reduced their target price on shares of Deluxe from $56.00 to $50.00 and set a “neutral” rating for the company in a research report on Friday, October 26th.

In other news, SVP Jeffrey Louis Cotter acquired 2,035 shares of the business’s stock in a transaction that occurred on Wednesday, November 7th. The stock was purchased at an average cost of $49.20 per share, for a total transaction of $100,122.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Keith A. Bush acquired 2,020 shares of the business’s stock in a transaction that occurred on Wednesday, November 7th. The shares were purchased at an average price of $49.60 per share, with a total value of $100,192.00. The disclosure for this purchase can be found here. 2.30% of the stock is currently owned by company insiders.

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About Deluxe

Deluxe Corporation provides checks, forms, marketing solutions, accessories, and other products and services for small businesses and financial institutions. It operates through three segments: Small Business Services, Financial Services, and Direct Checks. The company provides checks; printed forms, such as deposit tickets, billing forms, work orders, job proposals, purchase orders, invoices, and personnel forms, as well as computer forms and check registers; and accessories and other products comprising envelopes, office supplies, ink stamps, and labels, as well as checkbook covers.

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Dividend History for Deluxe (NYSE:DLX)

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