AVX Corporation (NYSE:AVX) announced a quarterly dividend on Monday, October 23rd, Wall Street Journal reports. Investors of record on Thursday, November 2nd will be paid a dividend of 0.115 per share by the electronics maker on Thursday, November 16th. This represents a $0.46 annualized dividend and a yield of 2.57%. The ex-dividend date is Wednesday, November 1st. This is an increase from AVX Corporation’s previous quarterly dividend of $0.11.
AVX Corporation has raised its dividend payment by an average of 8.0% per year over the last three years and has increased its dividend annually for the last 4 consecutive years. AVX Corporation has a dividend payout ratio of 62.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect AVX Corporation to earn $0.69 per share next year, which means the company should continue to be able to cover its $0.46 annual dividend with an expected future payout ratio of 66.7%.
Shares of AVX Corporation (NYSE:AVX) traded up $0.04 during mid-day trading on Friday, reaching $17.93. The company had a trading volume of 115,500 shares, compared to its average volume of 165,838. AVX Corporation has a 12 month low of $14.37 and a 12 month high of $20.22. The stock has a market capitalization of $3,010.96, a PE ratio of 22.09 and a beta of 0.87.
AVX Corporation (NYSE:AVX) last released its earnings results on Wednesday, October 25th. The electronics maker reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.01. AVX Corporation had a return on equity of 6.08% and a net margin of 10.02%. The firm had revenue of $352.70 million for the quarter, compared to analysts’ expectations of $348.30 million. During the same period in the prior year, the firm posted $0.16 earnings per share. The company’s quarterly revenue was up 7.7% on a year-over-year basis. equities analysts anticipate that AVX Corporation will post 0.74 EPS for the current year.
A number of brokerages have recently issued reports on AVX. BidaskClub downgraded AVX Corporation from a “hold” rating to a “sell” rating in a report on Saturday, August 12th. Zacks Investment Research raised AVX Corporation from a “hold” rating to a “strong-buy” rating and set a $22.00 price target on the stock in a report on Friday, October 6th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $17.00 price target on shares of AVX Corporation in a report on Tuesday, October 17th.
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AVX Corporation Company Profile
AVX Corporation (AVX) is a manufacturer and supplier and reseller of a line of passive electronic components, interconnect devices and related products. AVX operates in three segments: Passive Components, Kyocera Electronic Devices (KED Resale) and Interconnect. The Passive Components segment consists of surface mount and leaded ceramic capacitors, surface mount and leaded tantalum capacitors, surface mount and leaded film capacitors, thick and thin film packages of multiple passive integrated components, thermistors, inductors and resistive products.
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