Wolverine World Wide, Inc. (NYSE:WWW) Increases Dividend to $0.10 Per Share

Wolverine World Wide, Inc. (NYSE:WWW) declared a quarterly dividend on Wednesday, February 13th, Wall Street Journal reports. Stockholders of record on Monday, April 1st will be paid a dividend of 0.10 per share by the textile maker on Wednesday, May 1st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date is Friday, March 29th. This is an increase from Wolverine World Wide’s previous quarterly dividend of $0.08.

Wolverine World Wide has raised its dividend by an average of 7.7% per year over the last three years. Wolverine World Wide has a payout ratio of 18.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect Wolverine World Wide to earn $2.53 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 15.8%.

Wolverine World Wide stock traded up $0.26 during mid-day trading on Monday, reaching $36.23. 282,700 shares of the company were exchanged, compared to its average volume of 678,551. Wolverine World Wide has a 12 month low of $28.64 and a 12 month high of $39.77. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.83 and a quick ratio of 1.16. The firm has a market cap of $3.21 billion, a PE ratio of 16.70, a price-to-earnings-growth ratio of 1.55 and a beta of 0.97.

Wolverine World Wide (NYSE:WWW) last posted its quarterly earnings data on Wednesday, February 20th. The textile maker reported $0.52 EPS for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.03. Wolverine World Wide had a return on equity of 21.00% and a net margin of 8.90%. The firm had revenue of $579.60 million for the quarter, compared to analyst estimates of $584.55 million. During the same quarter last year, the company earned $0.41 EPS. The company’s revenue was up .2% on a year-over-year basis. Sell-side analysts expect that Wolverine World Wide will post 2.3 earnings per share for the current fiscal year.

In related news, Director Brenda J. Lauderback sold 6,668 shares of the business’s stock in a transaction dated Friday, February 22nd. The stock was sold at an average price of $35.80, for a total value of $238,714.40. Following the completion of the sale, the director now directly owns 21,308 shares of the company’s stock, valued at approximately $762,826.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael Jeppesen sold 38,441 shares of the business’s stock in a transaction dated Friday, February 22nd. The shares were sold at an average price of $35.72, for a total value of $1,373,112.52. Following the completion of the sale, the insider now directly owns 67,177 shares of the company’s stock, valued at $2,399,562.44. The disclosure for this sale can be found here. Insiders sold a total of 72,349 shares of company stock worth $2,589,072 over the last three months. 4.93% of the stock is owned by company insiders.

WWW has been the topic of several recent analyst reports. Wedbush reiterated an “outperform” rating and issued a $41.00 price target on shares of Wolverine World Wide in a research note on Thursday, February 7th. ValuEngine upgraded Wolverine World Wide from a “hold” rating to a “buy” rating in a research note on Friday, February 15th. Telsey Advisory Group reiterated a “market perform” rating and issued a $38.00 price target (up previously from $35.00) on shares of Wolverine World Wide in a research note on Tuesday, February 19th. Finally, Zacks Investment Research upgraded Wolverine World Wide from a “sell” rating to a “hold” rating in a research note on Saturday, February 9th. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Wolverine World Wide currently has an average rating of “Buy” and a consensus price target of $40.36.

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About Wolverine World Wide

Wolverine World Wide, Inc designs, manufactures, sources, markets, licenses, and distributes footwear, apparel, and accessories. The company operates through three segments: Wolverine Outdoor & Lifestyle Group, Wolverine Boston Group, and Wolverine Heritage Group. It offers casual footwear and apparel; performance outdoor and athletic footwear and apparel; kids' footwear; industrial work boots and apparel; and uniform shoes and boots.

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Dividend History for Wolverine World Wide (NYSE:WWW)

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