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

Steelcase Inc. (NYSE:SCS) declared a quarterly dividend on Wednesday, March 26th, Wall Street Journal reports. Investors 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 dividend 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 payout ratio of 31.7% indicating that its dividend is sufficiently covered by earnings. Equities research 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 Stock Performance

NYSE SCS opened at $11.30 on Friday. The business’s 50-day moving average price is $11.61 and its 200 day moving average price is $12.36. 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 has a twelve month low of $10.30 and a twelve month high of $14.74. The company has a market capitalization of $1.28 billion, a PE ratio of 11.77, a price-to-earnings-growth ratio of 1.25 and a beta of 1.33.

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

Insiders Place Their Bets

In other news, VP Robert G. Krestakos sold 5,000 shares of the business’s stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $11.74, for a total transaction of $58,700.00. Following the completion of the sale, the vice president now owns 114,481 shares in the company, valued at approximately $1,344,006.94. The trade was a 4.18 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 12.96% of the stock is currently owned by insiders.

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.