Virco Mfg. Co. (NASDAQ:VIRC) Declares Dividend Increase – $0.03 Per Share

Posted by MarketBeat News on Sep 19th, 2024

Virco Mfg. Co. (NASDAQ:VIRC – Get Free Report) declared a quarterly dividend on Tuesday, September 3rd, Zacks reports. Investors of record on Friday, September 20th will be given a dividend of 0.025 per share on Friday, October 11th. This represents a $0.10 annualized dividend and a dividend yield of 0.67%. The ex-dividend date of this dividend is Friday, September 20th. This is a positive change from Virco Mfg.’s previous quarterly dividend of $0.02.

Virco Mfg. has a dividend payout ratio of 5.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect Virco Mfg. to earn $1.76 per share next year, which means the company should continue to be able to cover its $0.10 annual dividend with an expected future payout ratio of 5.7%.

Virco Mfg. Stock Performance

Shares of NASDAQ VIRC opened at $14.87 on Thursday. Virco Mfg. has a 12 month low of $5.71 and a 12 month high of $18.50. The company has a market cap of $242.23 million, a P/E ratio of 9.53 and a beta of 0.65. The business’s 50 day moving average is $15.73 and its two-hundred day moving average is $13.33. The company has a quick ratio of 1.20, a current ratio of 2.26 and a debt-to-equity ratio of 0.04.

Wall Street Analysts Forecast Growth

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Several research firms recently commented on VIRC. StockNews.com cut shares of Virco Mfg. from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 25th. Wedbush reaffirmed an “outperform” rating and set a $19.00 price objective (up previously from $16.00) on shares of Virco Mfg. in a research report on Friday, June 7th.

Read Our Latest Stock Analysis on VIRC

Virco Mfg. Company Profile

(Get Free Report)

Virco Mfg. Corporation engages in the design, production, and distribution of furniture in the United States and Canada. The company offers seating products, including 4-leg chairs, cantilever chairs, mobile task chairs and lab stools, tablet armchairs, steel-frame and floor rockers, series stools, hard plastic seating, folding and upholstered stack chairs, and plastic stack and upholstered ergonomic chairs.