Dividend Coverage: This Manufacturer of Electronic Components and Interconnect Solutions raised its Dividend by 4.5%; Will Trade Ex-Dividend on November 01, 2017
LONDON, UK / ACCESSWIRE / October 31, 2017 / Pro-Trader Daily takes a closer look at AVX Corp. (NYSE: AVX) as the Company's stock will begin trading ex-dividend on November 01, 2017. In order to capture the dividend payout, investors must purchase the stock a day prior to the ex-dividend date that is by latest at the end of the trading session on October 31, 2017. Are you looking for research on dividend stocks, if so register with us now for your free membership at:
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Dividend Declared
On October 20, 2017, AVX Corp.'s Board of Directors declared an increased dividend of $0.115 per common share for the quarter ended September 30, 2017. This represents a $0.46 annual dividend rate, and a 4.5% increase over the previous dividend rate. The dividend will be paid to shareholders of record on November 02, 2017 and will be disbursed on November 16, 2017.
AVX Corporation's indicated dividend represents a yield of 2.51%, which is substantially above the average dividend yield of 1.34% for the Technology sector. The Company has raised its dividend for four years in a row.
Dividend Insights
AVX Corporation has a dividend payout ratio of 60.5%, which means that the Company distributes approximately $0.61 for every $1.00 earned. The dividend payout ratio reflects how much amount a company is returning to shareholders versus how much money it is keeping on hand to reinvest in growth, to pay off debt, and/or to add to its cash reserves.
According to analysts' estimates, AVX Corporation is estimated to report earnings of $0.70 for the next year, which is substantially above the Company's annualized dividend of $0.46 per share.
As of September 30, 2017, AVX Corp.'s cash and cash equivalents totaled $618.79 million compared to $578.63 million of cash as on March 31, 2017. At the end of the reported quarter, the Company had and short-term investments in securities of approximately $1.2 billion and no debt on its books. The Company's strong financial position indicates its ability to absorb any fluctuations in earnings and cash flow and to sustain the dividend distribution for a long period.
Recent Development for AVX Corporation
On October 25, 2017, AVX Corp. announced the limited release of its new Energy Harvesting Application Design Kit. The kit features a wide range of low-loss components hand-selected to provide engineers with ideal solutions for energy storage, blocking, IC support, output filtering, and external connections in thermoelectric generators, solar cells, piezoelectric devices, and micro wind turbines. This kit includes MLCCs, supercapacitors, Schottky diodes, inductors, and connectors.
About AVX Corporation
AVX Corp. is a leading international manufacturer and supplier of electronic passive components and interconnect solutions with 20 manufacturing and warehouse facilities in 11 countries around the world. AVX offers a broad range of devices including capacitors, resistors, filters, timing and circuit protection devices, and connectors.
A member of the Kyocera Group since 1990, AVX is also the only Company authorized to supply Kyocera's electronic devices to the Americas and Europe. Established in 1959 and based in Kyoto, Japan, Kyocera Corporation is a leading international supplier of connectors, capacitors, ceramic resonators, surface acoustic wave (SAW) filters and duplexers, and crystal oscillators and timing devices.
Stock Performance
At the closing bell, on Monday, October 30, 2017, AVX Corp.'s stock dropped 1.31%, ending the trading session at $18.12. A total volume of 159.90 thousand shares have exchanged hands, which was higher than the 3-month average volume of 157.80 thousand shares. The Company's stock price soared 0.95% in the last three months, 8.89% in the past six months, and 30.45% in the previous twelve months. Moreover, the stock surged 15.93% since the start of the year. The stock is trading at a PE ratio of 22.48 and has a dividend yield of 2.54%. The stock currently has a market cap of $3.06 billion.
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