The Marzetti Company (NASDAQ:MZTI – Get Free Report) announced a quarterly dividend on Wednesday, November 11th. Stockholders of record on Friday, December 4th will be given a dividend of $1.05 per share on Thursday, December 31st. This represents a $4.20 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend is Friday, December 4th. This is a 5.0% increase from Marzetti’s previous quarterly dividend of $1.00.
Marzetti has raised its dividend payment by an average of 0.1% per year over the last three years and has increased its dividend every year for the last 62 years. Marzetti has a dividend payout ratio of 56.6% meaning its dividend is sufficiently covered by earnings.
Marzetti Price Performance
Shares of NASDAQ MZTI opened at $111.49 on Thursday. Marzetti has a 52 week low of $97.00 and a 52 week high of $176.26. The company has a quick ratio of 0.66, a current ratio of 1.53 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $3.04 billion, a price-to-earnings ratio of 17.61 and a beta of 0.34. The firm has a 50-day simple moving average of $104.42 and a 200-day simple moving average of $122.81.
Marzetti (NASDAQ:MZTI – Get Free Report) last posted its earnings results on Tuesday, November 3rd. The company reported $1.14 earnings per share for the quarter, missing the consensus estimate of $1.37 by ($0.23). The firm had revenue of $481.52 million during the quarter. Marzetti had a net margin of 9.06% and a return on equity of 16.46%. Marzetti’s revenue was down 2.4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.74 EPS.
Marzetti Company Profile
The Marzetti Company (NASDAQ: MZTI), formerly Lancaster Colony Corporation, is a specialty food manufacturer headquartered in Columbus, Ohio. Its history traces to Teresa Marzetti’s Italian restaurant, which opened in Columbus in 1896; the company adopted The Marzetti Company name in 2023. The company makes branded and private-label products for grocery retailers and foodservice customers. Its offerings include salad dressings, dips, croutons, frozen garlic bread, rolls and other specialty breads and baked goods.
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