Virco Mfg. Co. (NASDAQ:VIRC) Announces Quarterly Dividend of $0.03

Virco Mfg. Co. (NASDAQ:VIRC) declared a quarterly dividend on Tuesday, December 10th,Wall Street Journal reports. Stockholders of record on Friday, December 20th will be given a dividend of 0.025 per share on Friday, January 10th. This represents a $0.10 annualized dividend and a dividend yield of 0.80%. The ex-dividend date is Friday, December 20th.

Virco Mfg. has a payout ratio of 5.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Virco Mfg. to earn $1.76 per share next year, which means the company should continue to be able to cover its $0.10 annual dividend with an expected future payout ratio of 5.7%.

Virco Mfg. Stock Down 6.6 %

Shares of VIRC stock traded down $0.89 during mid-day trading on Tuesday, hitting $12.53. 373,900 shares of the stock traded hands, compared to its average volume of 216,329. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.26 and a quick ratio of 1.20. The stock has a market cap of $204.11 million, a P/E ratio of 7.95 and a beta of 0.68. The stock’s fifty day moving average is $14.95 and its two-hundred day moving average is $14.88. Virco Mfg. has a 52-week low of $8.28 and a 52-week high of $18.50.

Virco Mfg. (NASDAQ:VIRC) last issued its quarterly earnings results on Monday, December 9th. The company reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.35). Virco Mfg. had a net margin of 9.50% and a return on equity of 27.88%. During the same quarter last year, the business posted $0.62 EPS. Equities analysts predict that Virco Mfg. will post 1.93 EPS for the current year.

Virco Mfg. Company Profile

Virco Mfg. Corporation engages in the design, production, and distribution of furniture in the United States and Canada. The company offers seating products, including 4-leg chairs, cantilever chairs, mobile task chairs and lab stools, tablet armchairs, steel-frame and floor rockers, series stools, hard plastic seating, folding and upholstered stack chairs, and plastic stack and upholstered ergonomic chairs.