Nomad Foods Limited (NYSE:NOMD) to Issue Dividend Increase – $0.17 Per Share

Nomad Foods Limited (NYSE:NOMD) announced a quarterly dividend on Thursday, January 30th,RTT News reports. Investors of record on Monday, February 10th will be paid a dividend of 0.17 per share on Wednesday, February 26th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.81%. The ex-dividend date is Monday, February 10th. This is a boost from Nomad Foods’s previous quarterly dividend of $0.15.

Nomad Foods has a payout ratio of 32.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Nomad Foods to earn $1.95 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 34.9%.

Nomad Foods Stock Performance

Shares of NYSE NOMD opened at $17.87 on Friday. The company has a quick ratio of 0.72, a current ratio of 1.20 and a debt-to-equity ratio of 0.79. The firm’s 50-day moving average price is $17.05 and its two-hundred day moving average price is $17.81. Nomad Foods has a 52-week low of $15.43 and a 52-week high of $20.05. The stock has a market capitalization of $2.91 billion, a P/E ratio of 13.43 and a beta of 0.79.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on NOMD shares. Mizuho cut their price target on Nomad Foods from $28.00 to $24.00 and set an “outperform” rating on the stock in a report on Wednesday, December 18th. StockNews.com upgraded Nomad Foods from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Nomad Foods from $25.00 to $23.00 and set a “buy” rating for the company in a report on Monday, November 4th. Finally, Barclays dropped their price objective on shares of Nomad Foods from $21.00 to $19.00 and set an “overweight” rating on the stock in a report on Friday, January 17th.

Nomad Foods Company Profile

Nomad Foods Limited, together with its subsidiaries, manufactures, markets, and distributes a range of frozen food products in the United Kingdom and internationally. The company offers frozen fish products, including fish fingers, coated fish, and natural fish; ready-to-cook vegetable products, such as peas and spinach; and frozen poultry and meat products comprising nuggets, grills, and burgers.