Wolverine World Wide, Inc. (NYSE:WWW) Declares Quarterly Dividend of $0.10

Wolverine World Wide, Inc. (NYSE:WWW) declared a quarterly dividend on Thursday, May 2nd, Wall Street Journal reports. Investors of record on Monday, July 1st will be given a dividend of 0.10 per share by the textile maker on Thursday, August 1st. This represents a $0.40 dividend on an annualized basis and a yield of 3.67%. The ex-dividend date of this dividend is Monday, July 1st.

Wolverine World Wide has a payout ratio of 36.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Wolverine World Wide to earn $1.25 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 32.0%.

Wolverine World Wide Stock Performance

NYSE WWW traded up $0.44 during midday trading on Thursday, hitting $10.89. The company had a trading volume of 2,063,569 shares, compared to its average volume of 858,682. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.75 and a current ratio of 1.18. The firm has a fifty day simple moving average of $10.10 and a two-hundred day simple moving average of $9.15. Wolverine World Wide has a fifty-two week low of $7.21 and a fifty-two week high of $17.85.

Wolverine World Wide (NYSE:WWW) last posted its quarterly earnings results on Wednesday, February 21st. The textile maker reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.03). The business had revenue of $526.70 million for the quarter, compared to analyst estimates of $520.12 million. Wolverine World Wide had a positive return on equity of 1.45% and a negative net margin of 1.77%. The firm’s quarterly revenue was down 20.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.15) EPS. On average, research analysts predict that Wolverine World Wide will post 0.77 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, Telsey Advisory Group reiterated a “market perform” rating and set a $10.00 target price on shares of Wolverine World Wide in a research report on Wednesday. One investment analyst has rated the stock with a sell rating and seven have issued a hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $10.63.

About Wolverine World Wide

Wolverine World Wide, Inc designs, manufactures, sources, markets, licenses, and distributes footwear, apparel, and accessories in the United States, Europe, the Middle East, Africa, the Asia Pacific, Canada and Latin America. It operates through Active Group and Work Group segments. The company offers casual footwear and apparel; performance outdoor and athletic footwear and apparel; kids' footwear; industrial work boots and apparel; and uniform shoes and boots.