Crown Crafts Dividend Offers 3.4% Yield

Crown Crafts, Inc.

revealed that its Board has declared a quarterly cash dividend on its Series A common stock of $0.08 per share. On an annualized basis, the dividend worked out to $0.32 a share. The dividend offered a yield of 3.4 percent, which was lower than the five-year average yield of 6.1 percent. Crown Crafts said that the dividend would be paid on July 8, 2016 to all the stockholders. For determining the shareholders name, the company fixed the record date of June 17, 2016. The company's Chairman, President and CEO, commented about the dividend payment saying, "Once this dividend is paid, we will have returned more than $23.3 million to stockholders since the Company resumed paying dividends in 2010. We are very proud of this track record, as we continue to operate our business in a manner that generates strong cash flow and delivers sustainable value to our stockholders." Crown Craft's dividend payout ratio was 85.0 percent, which was higher than the five-year average dividend payout ratio of 76.0 percent. Its dividend growth rate for the five-year period was 111.68 percent. Shares of the company traded 0.43 percent down on Tuesday.