Standex Int’l Corp. (NYSE:SXI) declared a quarterly dividend on Wednesday, April 24th, RTT News reports. Shareholders of record on Friday, May 10th will be paid a dividend of 0.20 per share by the industrial products company on Friday, May 24th. This represents a $0.80 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date of this dividend is Thursday, May 9th.
Standex Int’l has increased its dividend by an average of 14.0% per year over the last three years and has raised its dividend every year for the last 9 years. Standex Int’l has a payout ratio of 13.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Standex Int’l to earn $5.35 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 15.0%.
Shares of NYSE:SXI opened at $70.08 on Wednesday. Standex Int’l has a 12-month low of $62.02 and a 12-month high of $114.20. The company has a market capitalization of $880.77 million, a price-to-earnings ratio of 13.56 and a beta of 1.61. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.49 and a quick ratio of 2.69.
SXI has been the subject of a number of research analyst reports. Zacks Investment Research upgraded shares of Standex Int’l from a “sell” rating to a “hold” rating in a research report on Tuesday, January 15th. ValuEngine lowered shares of Standex Int’l from a “sell” rating to a “strong sell” rating in a research report on Wednesday, May 1st. Finally, William Blair reissued a “market perform” rating on shares of Standex Int’l in a research note on Wednesday, May 1st. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a buy rating to the company. Standex Int’l currently has a consensus rating of “Hold” and a consensus price target of $106.50.
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About Standex Int’l
Standex International Corporation manufactures and sells various products and services for commercial and industrial markets in the United States and internationally. The Food Service Equipment segment offers refrigerated cabinets, cases, display units, walk-in coolers, and freezers; commercial ovens, char broilers, ranges, griddles, toasters, warmers, roller grills, and countertop merchandisers; commercial cook and hold units, rotisseries, pressure fryers, and baking equipment; commercial deep fryers; merchandizing display cases; pump systems; and cold storage equipment.
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