Melrose Industries PLC (LON:MRO) to Issue Dividend Increase – GBX 3.50 Per Share

Melrose Industries PLC (LON:MRO) announced a dividend on Thursday, March 7th, Upcoming.Co.Uk reports. Investors of record on Thursday, March 28th will be paid a dividend of GBX 3.50 ($0.04) per share on Wednesday, May 8th. This represents a yield of 0.55%. The ex-dividend date is Thursday, March 28th. This is a positive change from Melrose Industries’s previous dividend of $1.50. The official announcement can be accessed at this link.

Melrose Industries Stock Performance

Shares of MRO stock opened at GBX 667.40 ($8.43) on Wednesday. The stock’s 50-day moving average is GBX 609.88 and its two-hundred day moving average is GBX 548.22. The company has a debt-to-equity ratio of 23.05, a quick ratio of 0.45 and a current ratio of 0.86. Melrose Industries has a 1 year low of GBX 350.65 ($4.43) and a 1 year high of GBX 672.60 ($8.50). The firm has a market cap of £8.81 billion, a price-to-earnings ratio of -33,380.00, a PEG ratio of 0.49 and a beta of 1.59.

Insider Buying and Selling at Melrose Industries

In related news, insider Matthew Gregory purchased 16,670 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The stock was purchased at an average cost of GBX 596 ($7.53) per share, with a total value of £99,353.20 ($125,556.93). 2.96% of the stock is owned by company insiders.

Analyst Ratings Changes

Separately, Numis Securities reiterated an “add” rating and issued a GBX 640 ($8.09) price objective on shares of Melrose Industries in a research note on Friday, March 8th.

About Melrose Industries

Melrose Industries PLC, together with its subsidiaries, engages in the aerospace, automotive, powder metallurgy, and other industrial businesses in the United Kingdom, rest of Europe, North America, and internationally. Its Aerospace segment provides airframe and engine structures, and electrical interconnection systems for the aerospace industry in civil airframe and defense platforms.