Steelcase Inc. (NYSE:SCS) Plans $0.10 Quarterly Dividend

Steelcase Inc. (NYSE:SCS) announced a quarterly dividend on Thursday, March 27th, Wall Street Journal reports. Shareholders of record on Monday, April 7th will be paid a dividend of 0.10 per share by the business services provider on Monday, April 21st. This represents a $0.40 annualized dividend and a yield of 3.54%. The ex-dividend date of this dividend is Monday, April 7th.

Steelcase has decreased its dividend by an average of 9.2% per year over the last three years. Steelcase has a dividend payout ratio of 31.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Steelcase to earn $1.06 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 37.7%.

Steelcase Trading Up 6.6 %

Shares of SCS traded up $0.70 during mid-day trading on Thursday, reaching $11.30. The company’s stock had a trading volume of 1,889,878 shares, compared to its average volume of 614,846. Steelcase has a 52 week low of $10.30 and a 52 week high of $14.74. The stock has a market cap of $1.28 billion, a PE ratio of 11.77, a P/E/G ratio of 1.25 and a beta of 1.33. The company’s fifty day moving average price is $11.61 and its two-hundred day moving average price is $12.37. The company has a current ratio of 1.57, a quick ratio of 1.21 and a debt-to-equity ratio of 0.48.

Steelcase (NYSE:SCS) last announced its quarterly earnings results on Wednesday, March 26th. The business services provider reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.06. The business had revenue of $788.00 million for the quarter, compared to analyst estimates of $790.90 million. Steelcase had a net margin of 3.63% and a return on equity of 14.20%. The company’s revenue was up 1.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.23 EPS. On average, analysts predict that Steelcase will post 1 earnings per share for the current fiscal year.

Insider Transactions at Steelcase

In other Steelcase news, VP Robert G. Krestakos sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $11.74, for a total value of $58,700.00. Following the completion of the sale, the vice president now directly owns 114,481 shares in the company, valued at $1,344,006.94. This trade represents a 4.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 12.96% of the company’s stock.

Steelcase Company Profile

Steelcase Inc provides a portfolio of furniture and architectural products and services in the United States and internationally. It operates through Americas and International segments. The company's furniture portfolio includes furniture systems, seating, storage, fixed and height-adjustable desks, benches, and tables, as well as complementary products, such as work accessories, lighting, mobile power, and screens.