Northern Technologies International Co. (NASDAQ:NTIC) Announces Quarterly Dividend of $0.07

Northern Technologies International Co. (NASDAQ:NTIC) declared a quarterly dividend on Wednesday, October 16th, Zacks reports. Shareholders of record on Wednesday, October 30th will be given a dividend of 0.07 per share by the specialty chemicals company on Wednesday, November 13th. This represents a $0.28 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date is Wednesday, October 30th.

Northern Technologies International has increased its dividend payment by an average of 62.7% per year over the last three years. Northern Technologies International has a payout ratio of 35.0% meaning its dividend is sufficiently covered by earnings. Analysts expect Northern Technologies International to earn $0.80 per share next year, which means the company should continue to be able to cover its $0.28 annual dividend with an expected future payout ratio of 35.0%.

Northern Technologies International Trading Up 3.8 %

NTIC stock opened at $13.16 on Thursday. Northern Technologies International has a 12 month low of $10.08 and a 12 month high of $19.63. The stock has a market cap of $124.07 million, a PE ratio of 28.61 and a beta of 0.61. The company has a 50-day moving average price of $12.56 and a 200 day moving average price of $14.72.

Wall Street Analysts Forecast Growth

NTIC has been the subject of a number of recent analyst reports. StockNews.com cut Northern Technologies International from a “buy” rating to a “hold” rating in a report on Thursday, July 11th. Northland Securities restated an “outperform” rating and issued a $20.00 price target on shares of Northern Technologies International in a report on Friday, July 12th.

About Northern Technologies International

Northern Technologies International Corporation develops and markets rust and corrosion inhibiting solutions in North America, South America, Europe, Asia, the Middle East and internationally. It offers rust and corrosion inhibiting products, such as plastic and paper packaging, liquids, coatings, rust removers, cleaners, diffusers, and engineered solutions designed for the oil and gas industry under the ZERUST brand.