Olympic Steel, Inc. (NASDAQ:ZEUS) Announces $0.15 Quarterly Dividend

Olympic Steel, Inc. (NASDAQ:ZEUS) announced a quarterly dividend on Thursday, October 31st,Zacks Dividends reports. Shareholders of record on Monday, December 2nd will be given a dividend of 0.15 per share by the basic materials company on Monday, December 16th. This represents a $0.60 annualized dividend and a yield of 1.42%. The ex-dividend date is Monday, December 2nd.

Olympic Steel has increased its dividend payment by an average of 84.2% annually over the last three years. Olympic Steel has a payout ratio of 22.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Olympic Steel to earn $2.98 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 20.1%.

Olympic Steel Stock Down 0.1 %

Shares of NASDAQ:ZEUS opened at $42.28 on Friday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.26 and a current ratio of 3.52. Olympic Steel has a 52-week low of $32.23 and a 52-week high of $73.49. The firm has a market capitalization of $470.58 million, a P/E ratio of 18.54 and a beta of 1.47. The stock has a 50 day moving average price of $39.14 and a 200-day moving average price of $42.95.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered Olympic Steel from a “buy” rating to a “hold” rating in a research report on Friday, October 25th.

Olympic Steel Company Profile

Olympic Steel, Inc processes, distributes, and stores metal products primarily in the United States, Canada, and Mexico. It operates in three segments: Carbon Flat Products; Specialty Metals Flat Products; and Tubular and Pipe Products. The company offers stainless steel and aluminum coil and sheet products, angles, rounds, and flat bars; alloy, heat treated, and abrasion resistant coils, sheets and plates; coated metals, including galvanized, galvannealed, electro galvanized, advanced high strength steels, aluminized, and automotive grades of steel; commercial quality, advanced high strength steel, drawing steel, and automotive grades cold rolled steel coil and sheet products; hot rolled carbon comprising hot rolled coil, pickled and oiled sheet and plate steel products, automotive grades, advanced high strength steels, and high strength low alloys; tube, pipe, and bar products, including round, square, and rectangular mechanical and structural tubing; hydraulic and stainless tubing; boiler tubing; carbon, stainless, and aluminum pipes; valves and fittings; and tin mill products, such as electrolytic tinplate, electrolytic chromium coated steel, and black plates.