MGP Ingredients, Inc. (MGPI) to Issue Quarterly Dividend of $0.12 on November 27th

MGP Ingredients, Inc. (NASDAQ:MGPI) declared a quarterly dividend on Wednesday, October 28th. Shareholders of record on Friday, November 13th will be paid a dividend of $0.12 per share on Friday, November 27th. This represents a $0.48 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date is Friday, November 13th.

MGP Ingredients has a payout ratio of 17.5% meaning its dividend is sufficiently covered by earnings. Equities analysts expect MGP Ingredients to earn $1.94 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 24.7%.

MGP Ingredients Stock Up 2.9%

NASDAQ:MGPI opened at $17.21 on Friday. The firm has a market capitalization of $368.53 million, a PE ratio of -1.48 and a beta of 0.49. The stock has a 50 day moving average of $15.02 and a 200-day moving average of $18.36. MGP Ingredients has a 52 week low of $12.42 and a 52 week high of $26.62. The company has a current ratio of 6.91, a quick ratio of 1.65 and a debt-to-equity ratio of 0.56.

MGP Ingredients (NASDAQ:MGPI) last announced its quarterly earnings results on Wednesday, October 28th. The company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.07. The business had revenue of $117.91 million for the quarter, compared to analysts’ expectations of $119.70 million. MGP Ingredients had a positive return on equity of 6.58% and a negative net margin of 51.12%. The business’s quarterly revenue was down 9.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.85 EPS. Analysts predict that MGP Ingredients will post 1.65 EPS for the current year.

MGP Ingredients Company Profile

MGP Ingredients, Inc (NASDAQ: MGPI) is a producer and marketer of distilled spirits and specialty food and beverage ingredients. The company operates distilleries and processing facilities that manufacture bourbon, rye whiskey, vodka, gin, tequila and other distilled products, as well as grain-based alcohol and related ingredients.

The company serves customers through both its Distilling Solutions and Branded Spirits businesses. Its branded portfolio includes products such as Ezra Brooks, Yellowstone, Daviess County, El Mayor and Everclear, while its distilling operations supply spirits and alcohol to beverage companies and other commercial customers.