NVE (NVEC) Declares $1.00 Dividend
NVE said on October 18, 2023 that its board of directors declared a regular quarterly dividend of $1.00 per share ($4.00 annualized). Previously, the company paid $1.00 per share.
Shareholders of record as of October 30, 2023 will receive the payment on November 30, 2023.
At the current share price of $65.02 / share, the stock's dividend yield is 6.15%.
Looking back five years and taking a sample every week, the average dividend yield has been 6.08%, the lowest has been 3.86%, and the highest has been 9.25%. The standard deviation of yields is 1.24 (n=235).
The current dividend yield is 0.06 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.90. 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.
- Read the Ultimate Guide to Dividend Harvesting.
The company has not increased its dividend in the last three years.
What is the Fund Sentiment?
There are 250 funds or institutions reporting positions in NVE. This is an increase of 75 owner(s) or 42.86% in the last quarter. Average portfolio weight of all funds dedicated to NVEC is 0.13%, a decrease of 29.84%. Total shares owned by institutions increased in the last three months by 9.38% to 3,994K shares.
What are Other Shareholders Doing?
Royce & Associates holds 483K shares representing 9.99% ownership of the company. In it's prior filing, the firm reported owning 518K shares, representing a decrease of 7.23%. The firm increased its portfolio allocation in NVEC by 6.21% over the last quarter.
Kayne Anderson Rudnick Investment Management holds 469K shares representing 9.71% ownership of the company. In it's prior filing, the firm reported owning 467K shares, representing an increase of 0.59%. The firm increased its portfolio allocation in NVEC by 62.44% over the last quarter.
RYSEX - Royce Special Equity Fund Investment Class holds 330K shares representing 6.84% ownership of the company. In it's prior filing, the firm reported owning 368K shares, representing a decrease of 11.35%. The firm increased its portfolio allocation in NVEC by 2.69% over the last quarter.
PSGAX - Virtus KAR Small-Cap Growth Fund holds 246K shares representing 5.08% ownership of the company. No change in the last quarter.
Renaissance Technologies holds 148K shares representing 3.06% ownership of the company. In it's prior filing, the firm reported owning 142K shares, representing an increase of 3.52%. The firm increased its portfolio allocation in NVEC by 32.16% over the last quarter.
NVE Background Information
(This description is provided by the company.)
NVE is a leader in the practical commercialization of spintronics, a nanotechnology that relies on electron spin rather than electron charge to acquire, store and transmit information. The company manufactures high-performance spintronic products including sensors and couplers that are used to acquire and transmit data.
Additional reading:
- NVE Corporation Reports Second Quarter Results and Announces Quarterly Dividend
- Bylaws as amended August 3, 2023.
- Second Amendment Sonova Supply Agreement (incorporated by reference to the Form 8-K/A filed July 19, 2023).
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