Virco Mfg. Co. (VIRC) To Go Ex-Dividend on September 20th

Virco Mfg. Co. (NASDAQ:VIRC) announced a quarterly dividend on Tuesday, September 3rd, Zacks reports. Stockholders of record on Friday, September 20th will be paid a dividend of 0.025 per share on Friday, October 11th. This represents a $0.10 annualized dividend and a dividend yield of 0.64%. The ex-dividend date of this dividend is Friday, September 20th. This is a boost from Virco Mfg.’s previous quarterly dividend of $0.02.

Virco Mfg. has a payout ratio of 5.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Virco Mfg. to earn $1.76 per share next year, which means the company should continue to be able to cover its $0.10 annual dividend with an expected future payout ratio of 5.7%.

Virco Mfg. Stock Down 1.0 %

Virco Mfg. stock opened at $15.54 on Wednesday. The stock has a 50 day moving average of $15.68 and a two-hundred day moving average of $13.30. Virco Mfg. has a twelve month low of $5.67 and a twelve month high of $18.50. The stock has a market capitalization of $251.87 million, a price-to-earnings ratio of 9.96 and a beta of 0.65. The company has a current ratio of 2.26, a quick ratio of 0.59 and a debt-to-equity ratio of 0.04.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on VIRC. StockNews.com downgraded Virco Mfg. from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 25th. Wedbush restated an “outperform” rating and set a $19.00 target price (up previously from $16.00) on shares of Virco Mfg. in a research report on Friday, June 7th.

Virco Mfg. Company Profile

Virco Mfg. Corporation engages in the design, production, and distribution of furniture in the United States and Canada. The company offers seating products, including 4-leg chairs, cantilever chairs, mobile task chairs and lab stools, tablet armchairs, steel-frame and floor rockers, series stools, hard plastic seating, folding and upholstered stack chairs, and plastic stack and upholstered ergonomic chairs.