Psychemedics (PMD) Declares $0.07 Dividend
Psychemedics said on March 21, 2023 that its board of directors declared a regular quarterly dividend of $0.07 per share ($0.28 annualized). Previously, the company paid $0.07 per share.
Shares must be purchased before the ex-div date of March 30, 2023 to qualify for the dividend. Shareholders of record as of March 31, 2023 will receive the payment on April 10, 2023.
At the current share price of $5.05 / share, the stock's dividend yield is 5.54%. Looking back five years and taking a sample every week, the average dividend yield has been 5.51%, the lowest has been 2.65%, and the highest has been 15.55%. The standard deviation of yields is 2.59 (n=160).
The current dividend yield is 0.01 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is -1.46. 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's 3-Year dividend growth rate is -0.61%.
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What is the Fund Sentiment?
There are 51 funds or institutions reporting positions in Psychemedics. This is a decrease of 2 owner(s) or 3.77% in the last quarter. Average portfolio weight of all funds dedicated to PMD is 0.04%, a decrease of 23.50%. Total shares owned by institutions decreased in the last three months by 6.98% to 1,651K shares.
What are Large Shareholders Doing?
Renaissance Technologies holds 290K shares representing 5.15% ownership of the company. In it's prior filing, the firm reported owning 306K shares, representing a decrease of 5.41%. The firm decreased its portfolio allocation in PMD by 30.22% over the last quarter.
Crawford Investment Counsel holds 258K shares representing 4.57% ownership of the company. In it's prior filing, the firm reported owning 267K shares, representing a decrease of 3.71%. The firm decreased its portfolio allocation in PMD by 33.24% over the last quarter.
CDOFX - Crawford Small Cap Dividend Fund - Class I holds 206K shares representing 3.65% ownership of the company. In it's prior filing, the firm reported owning 217K shares, representing a decrease of 4.99%. The firm decreased its portfolio allocation in PMD by 30.02% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 165K shares representing 2.93% ownership of the company. No change in the last quarter.
RBF Capital holds 144K shares representing 2.56% ownership of the company. No change in the last quarter.
Psychemedics Background Information
(This description is provided by the company.)
Psychemedics Corporation 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 U.S. 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 company's unique patented drug testing process. Psychemedics Corporation strongly believes its drug testing method to be superior to any other product currently in use, including traditional urine testing and other hair testing methods.
This story originally appeared on Fintel.