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

Virco Mfg. Co. (NASDAQ:VIRC - Get Free Report) announced a quarterly dividend on Thursday, March 6th, Wall Street Journal reports. Stockholders of record on Wednesday, March 26th will be given a dividend of 0.025 per share on Friday, April 11th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date of this dividend is Wednesday, March 26th.

Virco Mfg. Trading Up 0.7 %

Shares of Virco Mfg. stock traded up $0.07 on Tuesday, reaching $9.78. The company had a trading volume of 60,131 shares, compared to its average volume of 190,485. Virco Mfg. has a 52-week low of $9.08 and a 52-week high of $18.50. The firm's 50 day moving average price is $10.59 and its two-hundred day moving average price is $12.75. The firm has a market cap of $159.31 million, a PE ratio of 6.31 and a beta of 0.76. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.70 and a current ratio of 2.88.

Wall Street Analyst Weigh In

VIRC has been the subject of several research analyst reports. StockNews.com upgraded shares of Virco Mfg. from a "hold" rating to a "buy" rating in a report on Tuesday, March 11th. Wedbush restated an "outperform" rating and issued a $17.00 target price (down previously from $20.00) on shares of Virco Mfg. in a research note on Tuesday, December 10th.

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Virco Mfg. declared that its board has approved a stock repurchase program on Tuesday, January 21st that permits the company to buyback $10.00 million in shares. This buyback authorization permits the company to reacquire up to 5.4% of its stock through open market purchases. Stock buyback programs are often a sign that the company's leadership believes its stock is undervalued.

About Virco Mfg.

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.