UWM Holdings Co. Plans Quarterly Dividend of $0.10 (NYSE:UWMC)

UWM Holdings Co. (NYSE:UWMC) declared a quarterly dividend on Thursday, May 9th, Wall Street Journal reports. Shareholders of record on Thursday, June 20th will be given a dividend of 0.10 per share on Thursday, July 11th. This represents a $0.40 dividend on an annualized basis and a yield of 5.42%. The ex-dividend date of this dividend is Thursday, June 20th.

UWM has a payout ratio of 97.6% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities analysts expect UWM to earn $0.44 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 90.9%.

UWM Price Performance

UWM stock opened at $7.38 on Tuesday. UWM has a one year low of $4.49 and a one year high of $7.78. The stock’s fifty day moving average price is $6.93 and its two-hundred day moving average price is $6.78. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.58 and a quick ratio of 1.58. The firm has a market cap of $704.90 million, a PE ratio of 245.83 and a beta of 1.65.

Wall Street Analyst Weigh In

UWMC has been the topic of several recent analyst reports. Wedbush reiterated a “neutral” rating and issued a $7.00 price target on shares of UWM in a research note on Friday, May 17th. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $7.00 price objective (up previously from $6.00) on shares of UWM in a report on Friday, May 10th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, UWM currently has a consensus rating of “Hold” and an average target price of $5.69.

About UWM

UWM Holdings Corporation engages in the residential mortgage lending business in the United States. The company offers mortgage loans through wholesale channel. It originates primarily conforming and government loans. UWM Holdings Corporation was founded in 1986 and is headquartered in Pontiac, Michigan.