The Shyft Group, Inc. (NASDAQ:SHYF) Announces Quarterly Dividend of $0.05

Posted by Adam Dyson on Nov 14th, 2024

The Shyft Group, Inc. (NASDAQ:SHYF – Get Free Report) announced a quarterly dividend on Wednesday, October 30th,Zacks Dividends reports. Investors of record on Friday, November 15th will be given a dividend of 0.05 per share on Monday, December 16th. This represents a $0.20 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date is Friday, November 15th.

The Shyft Group has raised its dividend payment by an average of 26.0% annually over the last three years. The Shyft Group has a dividend payout ratio of 26.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect The Shyft Group to earn $0.68 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 29.4%.

The Shyft Group Stock Performance

The Shyft Group stock opened at $14.38 on Thursday. The firm’s 50 day simple moving average is $12.73 and its 200 day simple moving average is $12.68. The company has a current ratio of 1.82, a quick ratio of 1.16 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $495.97 million, a PE ratio of -119.83 and a beta of 1.63. The Shyft Group has a 1-year low of $9.81 and a 1-year high of $17.56.

Analyst Upgrades and Downgrades

Separately, DA Davidson raised shares of The Shyft Group from a “neutral” rating to a “buy” rating and upped their target price for the stock from $12.00 to $18.00 in a report on Monday, July 29th.

Read Our Latest Research Report on The Shyft Group

About The Shyft Group

(Get Free Report)

The Shyft Group, Inc engages in the manufacture and assembly of specialty vehicles for the commercial and recreational vehicle industries in the United States and internationally. It operates in two segments, Fleet Vehicles and Services, and Specialty Vehicles. The Fleet Vehicles and Services segment offers commercial vehicles used in the e-commerce/last mile/parcel delivery, beverage and grocery delivery, laundry and linen, mobile retail, and trades and construction industries.