AVX Co. (AVX) To Go Ex-Dividend on June 14th

AVX Co. (NYSE:AVX) declared a quarterly dividend on Friday, May 26th. Shareholders of record on Friday, June 16th will be given a dividend of 0.11 per share by the electronics maker on Friday, June 30th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.59%. The ex-dividend date is Wednesday, June 14th.

AVX has increased its dividend by an average of 8.0% per year over the last three years and has increased its dividend every year for the last 4 years. AVX has a dividend payout ratio of 57.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect AVX to earn $0.71 per share next year, which means the company should continue to be able to cover its $0.44 annual dividend with an expected future payout ratio of 62.0%.

AVX (AVX) opened at 16.98 on Friday. The company has a market capitalization of $2.85 billion, a price-to-earnings ratio of 22.64 and a beta of 0.93. The firm has a 50 day moving average of $16.65 and a 200-day moving average of $16.09. AVX has a 1-year low of $13.01 and a 1-year high of $17.72.

AVX (NYSE:AVX) last released its earnings results on Friday, April 28th. The electronics maker reported $0.20 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.20. The firm had revenue of $329.60 million for the quarter, compared to the consensus estimate of $328.60 million. AVX had a net margin of 10.27% and a return on equity of 6.16%. The company’s revenue was up 8.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.19 EPS. On average, equities research analysts anticipate that AVX will post $0.75 earnings per share for the current fiscal year.

Dividend History for AVX (NYSE:AVX)

A hedge fund recently raised its stake in AVX stock. Bank of America Corp DE boosted its position in shares of AVX Co. (NYSE:AVX) by 39.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 57,584 shares of the electronics maker’s stock after buying an additional 16,157 shares during the period. Bank of America Corp DE’s holdings in AVX were worth $943,000 at the end of the most recent quarter. Institutional investors own 24.45% of the company’s stock.

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A number of equities analysts recently issued reports on the stock. Stifel Nicolaus upped their price target on shares of AVX from $15.00 to $16.00 and gave the stock a “hold” rating in a research note on Monday, May 1st. Zacks Investment Research cut shares of AVX from a “hold” rating to a “sell” rating in a research note on Tuesday, March 21st.

About AVX

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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