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

Steelcase Inc. (NYSE:SCS - Get Free Report) declared a quarterly dividend on Wednesday, March 26th, Wall Street Journal reports. Shareholders of record on Monday, April 7th will be given a dividend of 0.10 per share by the business services provider on Monday, April 21st. This represents a $0.40 dividend on an annualized basis and a yield of 3.65%. The ex-dividend date is Monday, April 7th.

Steelcase has decreased its dividend payment by an average of 9.2% annually over the last three years. Steelcase has a payout ratio of 32.0% meaning its dividend is sufficiently covered by earnings. 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

Shares of NYSE SCS traded down $0.13 during midday trading on Monday, hitting $10.97. 874,789 shares of the company's stock traded hands, compared to its average volume of 641,571. The firm has a fifty day moving average of $11.58 and a 200 day moving average of $12.32. Steelcase has a 1 year low of $10.30 and a 1 year high of $14.74. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.21 and a current ratio of 1.57. The stock has a market capitalization of $1.25 billion, a price-to-earnings ratio of 11.43, a price-to-earnings-growth ratio of 1.25 and a beta of 1.33.

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

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Insider Activity at Steelcase

In related news, VP Robert G. Krestakos sold 5,000 shares of Steelcase stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $11.74, for a total transaction of $58,700.00. Following the transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 12.96% of the stock is currently owned by corporate insiders.

About Steelcase

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.