Melrose Industries PLC (MRO) Declares Dividend Increase – GBX 3.05 Per Share

Melrose Industries PLC (LON:MRO) announced a dividend on Thursday, March 7th, Upcoming.Co.Uk reports. Investors of record on Thursday, April 4th will be paid a dividend of GBX 3.05 ($0.04) per share on Monday, May 20th. This represents a dividend yield of 1.64%. The ex-dividend date is Thursday, April 4th. This is an increase from Melrose Industries’s previous dividend of $1.55. The official announcement can be viewed at this link.

Shares of MRO stock traded up GBX 3.10 ($0.04) on Friday, reaching GBX 196.60 ($2.57). 13,240,941 shares of the company’s stock were exchanged, compared to its average volume of 14,820,000. Melrose Industries has a 52 week low of GBX 145.95 ($1.91) and a 52 week high of GBX 248.80 ($3.25). The company has a debt-to-equity ratio of 46.31, a quick ratio of 0.76 and a current ratio of 1.17. The firm has a market capitalization of $9.55 billion and a P/E ratio of -16.38.

In other news, insider David Lis sold 3,500 shares of the business’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of GBX 185 ($2.42), for a total value of £6,475 ($8,460.73).

MRO has been the subject of a number of research analyst reports. Peel Hunt reissued a “buy” rating on shares of Melrose Industries in a research note on Friday, March 15th. Deutsche Bank restated a “buy” rating on shares of Melrose Industries in a report on Friday, March 15th. Goldman Sachs Group reiterated a “buy” rating and issued a GBX 230 ($3.01) price target on shares of Melrose Industries in a report on Wednesday, March 13th. UBS Group restated a “buy” rating on shares of Melrose Industries in a research note on Friday, March 8th. Finally, Bank of America lowered their price target on Melrose Industries from GBX 250 ($3.27) to GBX 240 ($3.14) and set a “buy” rating for the company in a research report on Tuesday, January 8th. Nine investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Melrose Industries presently has an average rating of “Buy” and an average target price of GBX 247 ($3.23).

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Melrose Industries Company Profile

Melrose Industries PLC engages in the aerospace, automotive, powder metallurgy, air and security, and other industrial businesses. Its Aerospace segment supplies airframe and engine structures, landing gears, specialist technologies, and aftermarket services for commercial and military aircraft. The company's Automotive segment designs, develops, manufactures, and integrates driveline technologies for car manufacturers; and operates as an all-wheel drive systems integrator and electric powertrain systems engineer.

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Dividend History for Melrose Industries (LON:MRO)

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