Nomad Foods Limited (NYSE:NOMD) Increases Dividend to $0.17 Per Share

Nomad Foods Limited (NYSE:NOMD) declared a quarterly dividend on Thursday, January 30th,RTT News reports. Investors of record on Monday, February 10th will be given a dividend of 0.17 per share on Wednesday, February 26th. This represents a $0.68 annualized dividend and a dividend yield of 3.80%. The ex-dividend date is Monday, February 10th. This is a boost from Nomad Foods’s previous quarterly dividend of $0.15.

Nomad Foods has a dividend payout ratio of 28.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Nomad Foods to earn $1.95 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 30.8%.

Nomad Foods Trading Up 0.8 %

Shares of Nomad Foods stock opened at $17.88 on Friday. The company has a current ratio of 1.20, a quick ratio of 0.72 and a debt-to-equity ratio of 0.79. Nomad Foods has a 1 year low of $15.43 and a 1 year high of $20.05. The company’s fifty day simple moving average is $17.07 and its 200-day simple moving average is $17.83. The company has a market cap of $2.91 billion, a price-to-earnings ratio of 13.44 and a beta of 0.79.

Analyst Ratings Changes

A number of brokerages recently commented on NOMD. Deutsche Bank Aktiengesellschaft cut their target price on Nomad Foods from $25.00 to $23.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Mizuho lowered their target price on shares of Nomad Foods from $28.00 to $24.00 and set an “outperform” rating on the stock in a report on Wednesday, December 18th. StockNews.com raised Nomad Foods from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. Finally, Barclays lowered their target price on Nomad Foods from $21.00 to $19.00 and set an “overweight” rating for the company in a research note on Friday, January 17th.

Nomad Foods Company Profile

Nomad Foods Limited, together with its subsidiaries, manufactures, markets, and distributes a range of frozen food products in the United Kingdom and internationally. The company offers frozen fish products, including fish fingers, coated fish, and natural fish; ready-to-cook vegetable products, such as peas and spinach; and frozen poultry and meat products comprising nuggets, grills, and burgers.