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.
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.
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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