Bio-Techne Corp (NASDAQ:TECH) Shareholders to Get $0.08 Quarterly Dividend

by · The Markets Daily

Bio-Techne Corp (NASDAQ:TECH – Get Free Report) announced a quarterly dividend on Tuesday, November 3rd. Investors of record on Friday, November 13th will be paid a dividend of $0.08 per share by the biotechnology company on Monday, November 23rd. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Friday, November 13th. This is a 87.7% decrease from Bio-Techne’s previous quarterly dividend of $0.65.

Bio-Techne has a dividend payout ratio of 15.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Bio-Techne to earn $1.97 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 16.2%.

Bio-Techne Price Performance

TECH traded up $0.07 during trading on Wednesday, hitting $72.73. The company’s stock had a trading volume of 4,206,588 shares, compared to its average volume of 3,294,162. The firm’s 50 day moving average price is $72.46 and its two-hundred day moving average price is $63.33. The company has a quick ratio of 3.35, a current ratio of 4.55 and a debt-to-equity ratio of 0.09. Bio-Techne has a 12 month low of $43.19 and a 12 month high of $72.83. The stock has a market capitalization of $11.42 billion, a price-to-earnings ratio of 63.24, a price-to-earnings-growth ratio of 5.27 and a beta of 1.29.

Bio-Techne (NASDAQ:TECH – Get Free Report) last announced its earnings results on Wednesday, August 12th. The biotechnology company reported $0.52 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.52. The company had revenue of $321.19 million for the quarter, compared to analyst estimates of $314.63 million. Bio-Techne had a net margin of 14.97% and a return on equity of 13.23%. Bio-Techne’s quarterly revenue was up 1.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.53 earnings per share. Sell-side analysts forecast that Bio-Techne will post 1.75 earnings per share for the current fiscal year.

Bio-Techne Company Profile

(Get Free Report)

Bio-Techne Corporation is a life sciences company that develops and supplies research and diagnostic products for biotechnology, pharmaceutical, academic, clinical and other laboratory customers. The company supports biological research, drug discovery and development, and diagnostic testing through a portfolio of reagents, instruments and analytical technologies.

Its products include proteins, antibodies, immunoassays, flow cytometry reagents, molecular biology tools and cell culture materials.

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