MillerKnoll, Inc. to Issue Quarterly Dividend of $0.19 (NASDAQ:MLKN)

MillerKnoll, Inc. (NASDAQ:MLKN) declared a quarterly dividend on Friday, October 25th, Wall Street Journal reports. Shareholders of record on Saturday, November 30th will be given a dividend of 0.1875 per share on Wednesday, January 15th. This represents a $0.75 annualized dividend and a yield of 3.20%. The ex-dividend date of this dividend is Friday, November 29th.

MillerKnoll has increased its dividend payment by an average of 23.6% annually over the last three years. MillerKnoll has a dividend payout ratio of 30.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect MillerKnoll to earn $2.71 per share next year, which means the company should continue to be able to cover its $0.75 annual dividend with an expected future payout ratio of 27.7%.

MillerKnoll Price Performance

Shares of NASDAQ:MLKN traded down $0.13 during midday trading on Friday, reaching $23.46. The company’s stock had a trading volume of 396,165 shares, compared to its average volume of 642,220. The business’s fifty day simple moving average is $26.30 and its 200-day simple moving average is $26.74. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.59 and a quick ratio of 0.93. MillerKnoll has a fifty-two week low of $22.43 and a fifty-two week high of $31.73. The company has a market capitalization of $1.62 billion, a P/E ratio of 27.11, a P/E/G ratio of 0.94 and a beta of 1.17.

MillerKnoll (NASDAQ:MLKN) last posted its quarterly earnings data on Thursday, September 19th. The company reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.04). The company had revenue of $861.50 million during the quarter, compared to analyst estimates of $889.38 million. MillerKnoll had a net margin of 1.80% and a return on equity of 10.93%. The company’s revenue was down 6.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.37 EPS. As a group, equities research analysts expect that MillerKnoll will post 2.17 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, StockNews.com lowered MillerKnoll from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th.

MillerKnoll Company Profile

MillerKnoll, Inc researches, designs, manufactures, and distributes interior furnishings worldwide. It operates through three segments: Americas Contract, International Contract & Specialty, and Global Retail. The company also provides seating products, furniture systems, other freestanding furniture elements, textiles, leather, felt, home furnishings and related services, casegoods, storage products, as well as residential, education, and healthcare furniture solutions.