Richardson Electronics, Ltd. (NASDAQ:RELL) Plans $0.06 Quarterly Dividend

Richardson Electronics, Ltd. (NASDAQ:RELL) declared a quarterly dividend on Wednesday, April 8th. Investors of record on Friday, May 8th will be given a dividend of 0.06 per share by the technology company on Wednesday, May 27th. This represents a c) annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Friday, May 8th.

Richardson Electronics has a payout ratio of 43.6% meaning its dividend is sufficiently covered by earnings. Analysts expect Richardson Electronics to earn $0.84 per share next year, which means the company should continue to be able to cover its $0.24 annual dividend with an expected future payout ratio of 28.6%.

Richardson Electronics Stock Performance

RELL stock opened at $11.76 on Thursday. Richardson Electronics has a 52 week low of $7.57 and a 52 week high of $15.34. The firm’s fifty day moving average is $11.93 and its 200 day moving average is $11.11. The firm has a market cap of $170.76 million, a P/E ratio of 235.25, a P/E/G ratio of 1.75 and a beta of 1.13.

Richardson Electronics (NASDAQ:RELL) last released its earnings results on Wednesday, April 8th. The technology company reported $0.07 EPS for the quarter, beating the consensus estimate of $0.04 by $0.03. Richardson Electronics had a net margin of 0.38% and a return on equity of 3.30%. The company had revenue of $55.47 million for the quarter, compared to analyst estimates of $53.13 million. As a group, analysts forecast that Richardson Electronics will post 0.27 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Weiss Ratings cut shares of Richardson Electronics from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, January 9th. Northland Securities set a $11.00 price objective on shares of Richardson Electronics in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus price target of $11.00.

Richardson Electronics Company Profile

Richardson Electronics, Ltd. (NASDAQ:RELL) is a global manufacturer, distributor and servicer of engineered components and subsystems for a diverse range of industrial, medical and scientific applications. The company specializes in vacuum electron devices, high-voltage power supplies and related electronic components, offering klystrons, traveling wave tubes, magnetrons, X-ray tubes, microwave amplifiers and power conversion products. Its solutions support customers in power grid management, semiconductor processing, medical imaging, scientific instrumentation and telecommunications.

In addition to its manufacturing capabilities, Richardson Electronics maintains a broad distribution network comprising thousands of standard and custom parts.