Marks and Spencer Group (OTCMKTS:MAKSY) Shares Up 6% Following Dividend Announcement

Marks and Spencer Group PLC (OTCMKTS:MAKSY)’s stock price traded up 6% during trading on Wednesday after the company announced a dividend. The company traded as high as $9.01 and last traded at $9.01. 4,593 shares traded hands during mid-day trading, a decline of 96% from the average session volume of 114,774 shares. The stock had previously closed at $8.50.

The newly announced dividend which will be paid on Friday, January 16th. Investors of record on Monday, December 1st will be given a dividend of $0.0315 per share. The ex-dividend date of this dividend is Friday, November 28th. This represents a yield of 118.0%.

Wall Street Analyst Weigh In

Several research firms recently commented on MAKSY. Royal Bank Of Canada cut shares of Marks and Spencer Group from a “moderate buy” rating to a “hold” rating in a research note on Monday, October 20th. Citigroup raised shares of Marks and Spencer Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, September 8th. One analyst has rated the stock with a Strong Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy”.

Marks and Spencer Group Price Performance

The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.56 and a current ratio of 0.87. The business’s 50 day simple moving average is $9.97 and its 200 day simple moving average is $9.73.

Marks and Spencer Group Company Profile

Marks and Spencer Group plc operates various retail stores. It operates through five segments: UK Clothing & Home, UK Food, International, Ocado, and All Other. The company offers protein deli and dairy; produce; ambient and in-store bakery; meals dessert and frozen; and hospitality and Food on the Move' products.