Richardson Electronics, Ltd. (NASDAQ:RELL) to Issue $0.06 Quarterly Dividend

Richardson Electronics, Ltd. (NASDAQ:RELL) announced a quarterly dividend on Tuesday, April 9th, Zacks reports. Stockholders of record on Friday, May 10th will be given a dividend of 0.06 per share by the technology company on Wednesday, May 29th. This represents a $0.24 annualized dividend and a dividend yield of 2.24%. The ex-dividend date is Thursday, May 9th.

Richardson Electronics has a dividend payout ratio of 26.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Richardson Electronics to earn $0.45 per share next year, which means the company should continue to be able to cover its $0.24 annual dividend with an expected future payout ratio of 53.3%.

Richardson Electronics Stock Up 0.8 %

Shares of Richardson Electronics stock opened at $10.71 on Wednesday. Richardson Electronics has a 12-month low of $8.08 and a 12-month high of $19.58. The firm has a market capitalization of $152.92 million, a PE ratio of 38.25, a price-to-earnings-growth ratio of 15.94 and a beta of 0.99. The stock’s fifty day moving average is $9.38 and its 200-day moving average is $10.67.

Richardson Electronics (NASDAQ:RELL) last posted its quarterly earnings data on Thursday, April 11th. The technology company reported $0.02 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.02. Richardson Electronics had a return on equity of 1.09% and a net margin of 1.97%. The firm had revenue of $52.38 million for the quarter, compared to the consensus estimate of $56.00 million. During the same quarter in the previous year, the company earned $0.44 EPS. Analysts expect that Richardson Electronics will post 0.05 EPS for the current year.

Analysts Set New Price Targets

RELL has been the subject of several research analyst reports. Northland Securities started coverage on shares of Richardson Electronics in a research report on Monday, April 29th. They issued an “outperform” rating and a $13.00 price target for the company. StockNews.com downgraded shares of Richardson Electronics from a “hold” rating to a “sell” rating in a research note on Thursday, January 11th.

Insider Buying and Selling

In related news, Director Kenneth Halverson purchased 2,500 shares of Richardson Electronics stock in a transaction dated Monday, April 22nd. The stock was acquired at an average cost of $10.05 per share, with a total value of $25,125.00. Following the completion of the transaction, the director now directly owns 5,000 shares of the company’s stock, valued at $50,250. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Kenneth Halverson purchased 2,500 shares of the stock in a transaction dated Monday, April 22nd. The shares were acquired at an average cost of $10.05 per share, for a total transaction of $25,125.00. Following the acquisition, the director now directly owns 5,000 shares in the company, valued at approximately $50,250. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Paul J. Plante purchased 5,000 shares of the company’s stock in a transaction dated Wednesday, April 17th. The stock was bought at an average cost of $9.96 per share, for a total transaction of $49,800.00. Following the completion of the purchase, the director now directly owns 5,000 shares of the company’s stock, valued at approximately $49,800. The disclosure for this purchase can be found here. Company insiders own 32.50% of the company’s stock.

Richardson Electronics Company Profile

Richardson Electronics, Ltd. provides engineered solutions, power grid and microwave tube, and related consumables worldwide. The Power and Microwave Technologies segment manufactures electron tubes and RF, Microwave and power components for semiconductors; and manufacturing equipment, RF and wireless and industrial power applications, as well as various applications including broadcast transmission, CO2 laser cutting, diagnostic imaging, dielectric and induction heating, energy transfer, high voltage switching, plasma, power conversion, radar, and radiation oncology.