Weyco Group said on March 7, 2023 that its board of directors declared a regular quarterly dividend of $0.24 per share ($0.96 annualized). Previously, the company paid $0.24 per share.
Shares must be purchased before the ex-div date of March 16, 2023 to qualify for the dividend. Shareholders of record as of March 17, 2023 will receive the payment on March 31, 2023.
At the current share price of $24.86 / share, the stock's dividend yield is 3.86%. Looking back five years and taking a sample every week, the average dividend yield has been 3.95%, the lowest has been 2.39%, and the highest has been 6.34%. The standard deviation of yields is 0.91 (n=235).
The current dividend yield is 0.10 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.31. 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 165 funds or institutions reporting positions in Weyco Group. This is an increase of 5 owner(s) or 3.12% in the last quarter. Average portfolio weight of all funds dedicated to WEYS is 0.05%, an increase of 0.51%. Total shares owned by institutions increased in the last three months by 0.76% to 2,640K shares.
What are Large Shareholders Doing?
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 234K shares representing 2.45% ownership of the company. In it's prior filing, the firm reported owning 164K shares, representing an increase of 30.13%. The firm increased its portfolio allocation in WEYS by 37.49% over the last quarter.
Wellington Management Group Llp holds 144K shares representing 1.51% ownership of the company. In it's prior filing, the firm reported owning 189K shares, representing a decrease of 31.23%. The firm decreased its portfolio allocation in WEYS by 99.99% over the last quarter.
IWM - iShares Russell 2000 ETF holds 131K shares representing 1.37% ownership of the company. In it's prior filing, the firm reported owning 125K shares, representing an increase of 4.31%. The firm decreased its portfolio allocation in WEYS by 1.54% over the last quarter.
Geode Capital Management holds 117K shares representing 1.22% ownership of the company. In it's prior filing, the firm reported owning 110K shares, representing an increase of 6.00%. The firm increased its portfolio allocation in WEYS by 2.38% over the last quarter.
DFSVX - U.s. Small Cap Value Portfolio - Institutional Class holds 102K shares representing 1.07% ownership of the company. In it's prior filing, the firm reported owning 98K shares, representing an increase of 4.27%. The firm increased its portfolio allocation in WEYS by 2.00% over the last quarter.
Weyco Group Background Information
(This description is provided by the company.)
WEYCO Group, Inc., designs and markets quality and innovative footwear for men, women and children under a portfolio of well-recognized brand names including; Florsheim, Nunn Bush, Stacy Adams, BOGS, and Rafters. The Company's products can be found in leading footwear, department, and specialty stores worldwide. Weyco Group also operates Florsheim concept stores in the United States and Australia, as well as in a variety of international markets.
This story originally appeared on Fintel.
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