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

Richardson Electronics, Ltd. (NASDAQ:RELL) announced a quarterly dividend on Wednesday, July 22nd. Investors of record on Friday, August 7th will be given a dividend of 0.06 per share by the technology company on Wednesday, August 26th. This represents a c) annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Friday, August 7th.

Richardson Electronics has a dividend payout ratio of 43.6% meaning its dividend is sufficiently covered by earnings. Analysts expect Richardson Electronics to earn $0.39 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 61.5%.

Richardson Electronics Trading Up 4.8%

Shares of RELL opened at $18.01 on Thursday. The business’s 50 day moving average is $17.29 and its 200 day moving average is $14.07. The company has a market capitalization of $262.23 million, a PE ratio of 66.71, a price-to-earnings-growth ratio of 1.76 and a beta of 1.26. Richardson Electronics has a 12-month low of $9.37 and a 12-month high of $19.86.

Richardson Electronics (NASDAQ:RELL) last posted its quarterly earnings results on Wednesday, July 22nd. The technology company reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.14. Richardson Electronics had a return on equity of 2.83% and a net margin of 1.75%.The company had revenue of $66.20 million for the quarter, compared to analysts’ expectations of $55.37 million. Equities research analysts predict that Richardson Electronics will post 0.25 earnings per share for the current year.

Analyst Ratings Changes

RELL has been the topic of several recent analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Richardson Electronics in a research report on Monday. Northland Securities set a $14.00 target price on shares of Richardson Electronics in a research note on Friday, April 10th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $14.00.

About Richardson Electronics

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.