Central Securities said on May 24, 2023 that its board of directors declared a regular semi-annual dividend of $0.20 per share ($0.40 annualized). Previously, the company paid $0.20 per share.
Shares must be purchased before the ex-div date of June 9, 2023 to qualify for the dividend. Shareholders of record as of June 12, 2023 will receive the payment on June 27, 2023.
At the current share price of $34.60 / share, the stock’s dividend yield is 1.16%.
Looking back five years and taking a sample every week, the average dividend yield has been 5.82%, the lowest has been 3.53%, and the highest has been 11.25%. The standard deviation of yields is 2.14 (n=236).
The current dividend yield is 2.18 standard deviations below the historical average.
Additionally, the company’s dividend payout ratio is -0.43. 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’s 3-Year dividend growth rate is 0.81%, demonstrating that it has increased its dividend over time.
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What is the Fund Sentiment?
There are 75 funds or institutions reporting positions in Central Securities. This is an increase of 4 owner(s) or 5.63% in the last quarter. Average portfolio weight of all funds dedicated to CET is 0.32%, an increase of 1.69%. Total shares owned by institutions increased in the last three months by 0.10% to 3,266K shares.
What are Other Shareholders Doing?
Atlas Wealth holds 480K shares representing 1.72% ownership of the company. In it’s prior filing, the firm reported owning 486K shares, representing a decrease of 1.12%. The firm decreased its portfolio allocation in CET by 25.00% over the last quarter.
1607 Capital Partners holds 337K shares representing 1.20% ownership of the company. In it’s prior filing, the firm reported owning 344K shares, representing a decrease of 2.18%. The firm increased its portfolio allocation in CET by 4.51% over the last quarter.
Bulldog Investors, LLP holds 234K shares representing 0.84% ownership of the company. In it’s prior filing, the firm reported owning 234K shares, representing an increase of 0.20%. The firm increased its portfolio allocation in CET by 11.56% over the last quarter.
Special Opportunities Fund holds 214K shares representing 0.77% ownership of the company. No change in the last quarter.
Raymond James Financial Services Advisors holds 193K shares representing 0.69% ownership of the company. In it’s prior filing, the firm reported owning 205K shares, representing a decrease of 6.27%. The firm decreased its portfolio allocation in CET by 7.63% over the last quarter.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
