Culp, Inc. (CULP) Raises Dividend to $0.09 Per Share

Culp, Inc. (NYSE:CULP) declared a quarterly dividend on Friday, December 1st, Wall Street Journal reports. Stockholders of record on Tuesday, January 2nd will be paid a dividend of 0.09 per share by the textile maker on Tuesday, January 16th. This represents a $0.36 annualized dividend and a dividend yield of 1.12%. The ex-dividend date of this dividend is Friday, December 29th. This is an increase from Culp’s previous quarterly dividend of $0.08.

Shares of Culp (NYSE:CULP) traded down $0.30 on Friday, hitting $32.10. 31,100 shares of the stock traded hands, compared to its average volume of 29,049. Culp has a 12 month low of $26.15 and a 12 month high of $37.80. The company has a market capitalization of $400.61, a PE ratio of 17.60 and a beta of 0.27. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.44 and a quick ratio of 1.11.

Culp (NYSE:CULP) last announced its earnings results on Wednesday, August 30th. The textile maker reported $0.40 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.53 by ($0.13). Culp had a return on equity of 15.89% and a net margin of 7.14%. The business had revenue of $79.53 million for the quarter, compared to the consensus estimate of $80.01 million. sell-side analysts forecast that Culp will post 1.59 EPS for the current year.

Several brokerages have recently commented on CULP. Zacks Investment Research cut shares of Culp from a “hold” rating to a “sell” rating in a report on Thursday, August 31st. ValuEngine cut shares of Culp from a “buy” rating to a “hold” rating in a report on Thursday, November 9th.

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About Culp

Culp, Inc is a producer of mattress fabrics and marketer of upholstery fabrics for furniture in North America. The Company is engaged in the manufacture, sourcing and marketing of mattress fabrics and sewn covers used for covering mattresses and box springs, and upholstery fabrics, including cut and sewn kits used in production of upholstered furniture.

Dividend History for Culp (NYSE:CULP)

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