Deluxe Corporation (DLX) Announces Quarterly Dividend of $0.30
Deluxe Corporation (NYSE:DLX) announced a quarterly dividend on Friday, October 27th, Wall Street Journal reports. Shareholders of record on Monday, November 20th will be paid a dividend of 0.30 per share by the business services provider on Monday, December 4th. This represents a $1.20 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date is Friday, November 17th.
Deluxe Corporation has increased its dividend payment by an average of 6.3% per year over the last three years. Deluxe Corporation has a payout ratio of 22.9% meaning its dividend is sufficiently covered by earnings. Analysts expect Deluxe Corporation to earn $5.52 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 21.7%.
Shares of Deluxe Corporation (DLX) traded down 3.35% during mid-day trading on Friday, reaching $70.19. 371,596 shares of the company’s stock were exchanged. Deluxe Corporation has a 52-week low of $59.47 and a 52-week high of $75.94. The firm has a market cap of $3.39 billion, a P/E ratio of 15.02 and a beta of 1.35. The company has a 50 day moving average price of $71.65 and a 200 day moving average price of $70.24.
Deluxe Corporation (NYSE:DLX) last released its quarterly earnings results on Thursday, October 26th. The business services provider reported $1.32 EPS for the quarter, topping the Zacks’ consensus estimate of $1.25 by $0.07. Deluxe Corporation had a net margin of 11.98% and a return on equity of 27.83%. The business had revenue of $497.70 million during the quarter, compared to analysts’ expectations of $487.77 million. During the same quarter in the previous year, the company earned $1.22 EPS. The business’s quarterly revenue was up 8.5% compared to the same quarter last year. Analysts forecast that Deluxe Corporation will post $5.25 earnings per share for the current fiscal year.
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In other Deluxe Corporation news, Director Ronald C. Baldwin sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $72.41, for a total value of $144,820.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP John D. Filby sold 18,936 shares of the business’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $72.21, for a total transaction of $1,367,368.56. Following the completion of the transaction, the vice president now directly owns 46,154 shares of the company’s stock, valued at approximately $3,332,780.34. The disclosure for this sale can be found here. 2.40% of the stock is owned by insiders.
Separately, BidaskClub raised shares of Deluxe Corporation from a “sell” rating to a “hold” rating in a research note on Monday, July 31st.
Deluxe Corporation Company Profile
Deluxe Corporation is a provider of payment solutions. The Company provides a suite of customer life cycle management solutions to its customers across multiple channels. The Company operates in three segments: Small Business Services segment, Financial Services segment and Direct Checks segment. The Company’s product and service offerings consist of checks, forms and accessories, and other products.
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