Michelin (MGDDY) to Issue Annual Dividend of $0.67 on June 11th

Michelin (OTCMKTS:MGDDY) declared an annual dividend on Tuesday, May 1st, Zacks reports. Stockholders of record on Monday, May 21st will be given a dividend of 0.667 per share on Monday, June 11th. This represents a dividend yield of 2.37%. The ex-dividend date is Friday, May 18th.

Shares of Michelin stock traded up $0.09 during trading on Friday, hitting $28.46. The stock had a trading volume of 28,600 shares, compared to its average volume of 65,657. The stock has a market cap of $24.96 billion, a P/E ratio of 13.49, a PEG ratio of 1.55 and a beta of 1.02. Michelin has a 12 month low of $25.01 and a 12 month high of $32.26.

Several research analysts have recently weighed in on MGDDY shares. Zacks Investment Research raised shares of Michelin from a “hold” rating to a “buy” rating and set a $33.00 price target on the stock in a report on Tuesday, April 17th. Morgan Stanley cut shares of Michelin from an “overweight” rating to an “equal weight” rating in a report on Friday, March 23rd.

About Michelin

Compagnie Générale des Établissements Michelin manufactures, distributes, and sells tires worldwide. The company operates through three segments: Passenger Car and Light Truck Tires and Related Distribution; Truck Tires and Related Distribution; and Specialty Businesses. It offers tires for cars, vans, trucks, buses, farm machinery, earthmovers, mining and handling equipment, tramways, metros, aircraft, motorcycles, scooters, and bicycles.

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