Movado Group, Inc. to Issue Quarterly Dividend of $0.35 (NYSE:MOV)

Movado Group, Inc. (NYSE:MOV) declared a quarterly dividend on Thursday, December 5th,Wall Street Journal reports. Stockholders of record on Monday, December 16th will be given a dividend of 0.35 per share on Monday, December 30th. This represents a $1.40 annualized dividend and a dividend yield of 6.70%. The ex-dividend date of this dividend is Monday, December 16th.

Movado Group has a dividend payout ratio of 55.1% indicating that its dividend is sufficiently covered by earnings.

Movado Group Stock Down 0.4 %

Shares of MOV opened at $20.89 on Friday. Movado Group has a 52-week low of $17.86 and a 52-week high of $31.44. The stock has a market cap of $464.22 million, a PE ratio of 20.07 and a beta of 1.04. The firm’s fifty day moving average is $19.58 and its two-hundred day moving average is $22.17.

Analyst Ratings Changes

Separately, StockNews.com lowered shares of Movado Group from a “buy” rating to a “hold” rating in a report on Friday, September 6th.

About Movado Group

Movado Group, Inc designs, sources, markets, and distributes watches in the United States and internationally. The company operates in two segments, Watch and Accessory Brands, and Company Stores. The company offers its watches under the Movado, Concord, Ebel, Olivia Burton, and MVMT brands, as well as licensed brands comprising Coach, Tommy Hilfiger, HUGO BOSS, Lacoste, and Calvin Klein.