MGP Ingredients, Inc. (NASDAQ:MGPI – Get Free Report) announced a quarterly dividend on Wednesday, July 29th. Stockholders of record on Friday, August 14th will be given a dividend of 0.12 per share on Friday, August 28th. This represents a c) annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend is Friday, August 14th.
MGP Ingredients has a payout ratio of 17.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect MGP Ingredients to earn $2.06 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 23.3%.
MGP Ingredients Stock Performance
MGP Ingredients stock traded up $0.17 during trading on Wednesday, reaching $18.88. The company had a trading volume of 205,983 shares, compared to its average volume of 245,425. MGP Ingredients has a 52 week low of $15.72 and a 52 week high of $31.75. The firm’s 50-day simple moving average is $17.15 and its 200 day simple moving average is $19.76. The firm has a market capitalization of $403.47 million, a price-to-earnings ratio of -1.69 and a beta of 0.46. The company has a current ratio of 2.74, a quick ratio of 0.56 and a debt-to-equity ratio of 0.41.
MGP Ingredients Company Profile
MGP Ingredients, Inc (NASDAQ: MGPI) is a leading producer of distilled spirits and specialty ingredient solutions for the food, beverage and consumer products industries. Headquartered in Atchison, Kansas, the company operates two main facilities—its historic Atchison plant, founded in 1941 as Midwest Grain Products, and a modern distillery in Lawrenceburg, Indiana. MGP Ingredients supplies an array of distillation products under its beverage and ingredient segments, serving brand owners, private-label producers and co-packers worldwide.
The beverage segment features a broad portfolio of premium spirits, including bourbon and rye whiskies, vodka, gin and neutral spirits.
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