Macy’s Announces Quarterly Dividend, Ex-Dividend Date Set for December 15

Macy’s, Inc. (NYSE: M) has announced a quarterly dividend of $0.1824 per share, payable to shareholders on January 2, 2024. The record date for this dividend is set for December 15, 2023, which marks the ex-dividend date. This dividend payout represents an annualized yield of 3.0%.

Over the past three years, Macy’s has reduced its dividend by an average of 0.1% annually, yet the company has increased its dividend consistently for the last four years. Currently, Macy’s maintains a payout ratio of 38.8%, indicating that its dividends are well-supported by earnings. Analysts anticipate that Macy’s will earn $2.44 per share in the coming year, projecting that the company’s annual dividend of $0.73 will remain sustainable, with an expected future payout ratio of 29.9%.

Recent Trading Activity

In midday trading on Friday, shares of Macy’s climbed by 0.7%, increasing by $0.18 to reach $24.18. The trading volume stood at 7,462,023 shares, slightly below the average volume of 7,848,463. Macy’s is currently valued at a market capitalization of $6.43 billion and has a price-to-earnings ratio of 14.31.

The company’s financial metrics include a debt-to-equity ratio of 0.56, a quick ratio of 0.18, and a current ratio of 1.25. Over the past year, Macy’s shares have seen a low of $9.76 and a high of $24.41. The fifty-day simple moving average is $20.08, while the two-hundred day average stands at $15.83.

About Macy’s, Inc.

Macy’s, Inc. is a prominent retailer engaged in the sale of apparel, accessories, cosmetics, home furnishings, and various consumer goods. The company’s well-known brands include Macy’s, Bloomingdale’s, and Bluemercury. It provides a wide range of products, such as men’s, women’s, and children’s apparel, women’s accessories, intimate apparel, shoes, cosmetics, fragrances, and home goods.

For investors and analysts, Macy’s dividend announcement and trading activity reflect the company’s ongoing commitment to shareholder value, despite recent fluctuations in its dividend policy.