Nomad Foods Limited (NYSE:NOMD) Announces Dividend Increase – $0.17 Per Share

Nomad Foods Limited (NYSE:NOMD) declared a quarterly dividend on Thursday, January 30th,RTT News reports. Stockholders 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 3.84%. This is an increase 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. 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 Stock Up 2.9 %

Shares of NYSE NOMD opened at $17.70 on Thursday. The stock has a market cap of $2.88 billion, a P/E ratio of 13.28 and a beta of 0.79. The business’s fifty day simple moving average is $17.06 and its 200-day simple moving average is $17.82. Nomad Foods has a 12-month low of $15.43 and a 12-month high of $20.05. The company has a current ratio of 1.20, a quick ratio of 0.72 and a debt-to-equity ratio of 0.79.

Analyst Upgrades and Downgrades

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

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.