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LONDON, UK / ACCESSWIRE / May 4, 2018 / Active-Investors has a free review on Psychemedics Corp. (NASDAQ: PMD) following the Company's announcement that it will begin trading ex-dividend on May 07, 2018. To capture the dividend payout, investors must purchase the stock a day prior to the ex-dividend date (excluding weekend) that is by latest at the end of the trading session on May 04, 2018. Active-Investors has initiated due-diligence on this dividend stock. Register with us for more free research including the one on PMD:
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On April 24, 2018, Psychemedics announced that it has increased the quarterly dividend from $0.15 to $0.18 per share, an increase of 20%, payable to shareholders of record as of May 08, 2018, to be paid on May 18, 2018.
Psychemedics' indicated dividend represents a yield of 3.49%, which is more than four times higher than the average dividend yield of 0.73% for the Healthcare sector. This will be the Company's 87th consecutive quarterly dividend.
Psychemedics has a dividend payout ratio of 65.0%, which mean that the Company spends approximately $0.65 for dividend distribution out of 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.
Psychemedics trailing twelve months earnings were $1.28 per share, which is substantially higher than the Company's annualized dividend of $0.72 per share.
Psychemedics' balance sheet remains strong with $8.3 million in cash and $10.4 million of working capital. The total equipment financing obligation outstanding was $3.1 million as of March 31, 2018.
On April 24, 2018, Psychemedics announced results for the quarter ended March 31, 2018. The Company's revenue jumped 7% to a record $10.9 million for Q1 2018 versus $10.2 million for Q1 2017. Psychemedics' net income was $1.3 million, or $0.23 per diluted share, for Q1 2018 versus $1.5 million, or $0.27 per diluted share, for Q1 2017. The Company's earnings were negatively impacted by increased auditing and accounting fees required by Psychemedics becoming an accelerated filer and added sales taxes and expenses associated with establishing and operating its Brazil subsidiary
About Psychemedics Corp.
Psychemedics is the world's largest provider of hair testing for the detection of drugs of abuse. The Company's patented process is used by thousands of US and international clients, including over 10% of the Fortune 500 companies, for pre-employment and random drug testing. Major police departments, Federal Reserve Banks, schools, and other public entities also rely on the Company's unique patented drug testing process.
Stock Performance Snapshot
May 3, 2018 - At Thursday's closing bell, Psychemedics' stock climbed 2.04%, ending the trading session at $21.04.
Volume traded for the day: 13.62 thousand shares, which was above the 3-month average volume of 11.92 thousand shares.
Stock performance in the last month – up 6.21%; previous three-month period – up 5.20%; past twelve-month period – up 7.02%; and year-to-date – up 2.33%
After yesterday's close, Psychemedics' market cap was at $117.40 million.
Price to Earnings (P/E) ratio was at 16.44.
The stock has a dividend yield of 2.85%.
The stock is part of the Healthcare sector, categorized under the Medical Laboratories & Research industry.
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