Chicago Rivet & Machine said on May 9, 2023 that its board of directors declared a regular quarterly dividend of $0.22 per share ($0.88 annualized). Previously, the company paid $0.22 per share.
Shares must be purchased before the ex-div date of June 2, 2023 to qualify for the dividend. Shareholders of record as of June 5, 2023 will receive the payment on June 20, 2023.
At the current share price of $24.51 / share, the stock's dividend yield is 3.59%.
Looking back five years and taking a sample every week, the average dividend yield has been 3.36%, the lowest has been 1.51%, and the highest has been 4.89%. The standard deviation of yields is 0.80 (n=230).
The current dividend yield is 0.28 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.46. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company has not increased its dividend in the last three years.
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What is the Fund Sentiment?
There are 43 funds or institutions reporting positions in Chicago Rivet & Machine. This is an increase of 1 owner(s) or 2.38% in the last quarter. Average portfolio weight of all funds dedicated to CVR is 0.07%, an increase of 915.51%. Total shares owned by institutions increased in the last three months by 21.33% to 283K shares.
What are Other Shareholders Doing?
Jump Financial holds 53K shares representing 5.45% ownership of the company.
Renaissance Technologies holds 38K shares representing 3.95% ownership of the company. In it's prior filing, the firm reported owning 42K shares, representing a decrease of 9.95%. The firm decreased its portfolio allocation in CVR by 2.31% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 28K shares representing 2.94% ownership of the company. No change in the last quarter.
DFSVX - U.s. Small Cap Value Portfolio - Institutional Class holds 28K shares representing 2.88% ownership of the company. In it's prior filing, the firm reported owning 28K shares, representing a decrease of 1.46%. The firm decreased its portfolio allocation in CVR by 0.90% over the last quarter.
HighTower Advisors holds 25K shares representing 2.61% ownership of the company. No change in the last quarter.
Chicago Rivet & Machine Background Information
(This description is provided by the company.)
Chicago Rivet & Machine Co. produces and sells rivets, cold-formed fasteners and parts, screw machine products, automatic rivet setting machines, automatic assembly equipment, and parts and tools for such machines. The Company also leases automatic rivet setting machines. Chicago Rivet & Machine markets its products to the automotive and appliance industries in the United States.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
