Spectrum Brands Holdings Inc. Announces Quarterly Dividend of $0.47 (NYSE:SPB)

Spectrum Brands Holdings Inc. (NYSE:SPB) declared a quarterly dividend on Tuesday, November 11th. Shareholders of record on Monday, November 24th will be given a dividend of 0.47 per share on Tuesday, December 9th. This represents a c) annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend is Monday, November 24th.

Spectrum Brands has a payout ratio of 40.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Spectrum Brands to earn $5.81 per share next year, which means the company should continue to be able to cover its $1.88 annual dividend with an expected future payout ratio of 32.4%.

Spectrum Brands Price Performance

Shares of NYSE:SPB traded up $0.96 on Wednesday, reaching $52.54. The company’s stock had a trading volume of 240,854 shares, compared to its average volume of 493,774. The company has a 50-day simple moving average of $53.66 and a 200 day simple moving average of $56.01. Spectrum Brands has a 52-week low of $49.99 and a 52-week high of $96.62. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.50 and a current ratio of 2.42. The company has a market cap of $1.27 billion, a P/E ratio of 19.63 and a beta of 0.82.

Analyst Upgrades and Downgrades

SPB has been the subject of a number of recent research reports. Wells Fargo & Company dropped their target price on Spectrum Brands from $60.00 to $55.00 and set an “equal weight” rating for the company in a report on Thursday, September 25th. Canaccord Genuity Group cut their price objective on shares of Spectrum Brands from $77.00 to $75.00 and set a “buy” rating on the stock in a research report on Friday, August 8th. Weiss Ratings restated a “hold (c-)” rating on shares of Spectrum Brands in a report on Wednesday, October 8th. Wall Street Zen downgraded shares of Spectrum Brands from a “hold” rating to a “sell” rating in a report on Monday. Finally, Royal Bank Of Canada set a $75.00 price objective on shares of Spectrum Brands and gave the stock an “outperform” rating in a research report on Monday, August 11th. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $73.80.

About Spectrum Brands

Spectrum Brands Holdings, Inc operates as a branded consumer products and home essentials company in North America, Europe, the Middle East, Africa, and Asia-Pacific regions. It operates through three segments: Home and Personal Care; Global Pet Care; and Home and Garden. The Home and Personal Care segment provides home appliances under the Black & Decker, Russell Hobbs, George Foreman, PowerXL, Emeril Legasse, Copper Chef, Toastmaster, Juiceman, Farberware, and Breadman brands; and personal care products under the Remington brand.