Richardson Electronics, Ltd. (NASDAQ:RELL – Get Free Report) announced a quarterly dividend on Tuesday, October 8th, Zacks reports. Shareholders of record on Friday, November 8th will be given a dividend of 0.06 per share by the technology company on Wednesday, November 27th. This represents a $0.24 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date of this dividend is Friday, November 8th.
Richardson Electronics has a dividend payout ratio of 28.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Richardson Electronics to earn $0.84 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 28.6%.
Richardson Electronics Stock Performance
NASDAQ:RELL opened at $14.06 on Wednesday. Richardson Electronics has a 1 year low of $8.08 and a 1 year high of $14.32. The stock has a market cap of $202.18 million, a P/E ratio of -281.20, a P/E/G ratio of 2.84 and a beta of 0.95. The stock has a 50-day simple moving average of $12.61 and a 200-day simple moving average of $11.78.
Wall Street Analysts Forecast Growth
Separately, StockNews.com upgraded shares of Richardson Electronics from a “sell” rating to a “hold” rating in a research note on Friday, July 26th.
Read Our Latest Report on RELL
Insider Activity
In other news, Director James Benham purchased 4,500 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The shares were purchased at an average price of $13.29 per share, for a total transaction of $59,805.00. Following the purchase, the director now directly owns 13,706 shares of the company’s stock, valued at $182,152.74. This represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 32.84% of the company’s stock.
About Richardson Electronics
Richardson Electronics, Ltd. engages in the provision of engineered solutions, power grid and microwave tube, and related consumables worldwide. The Power and Microwave Technologies segment manufactures electron tubes and radio frequency (RF), microwave and power components used in semiconductor manufacturing equipment, RF, and wireless and industrial power applications, as well as various applications including broadcast transmission, CO2 laser cutting, diagnostic imaging, dielectric and induction heating, energy transfer, high voltage switching, plasma, power conversion, radar, and radiation oncology.
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