On the heels of its latest quarterly results, toymaker Hasbro's (NASDAQ:HAS) board of directors declared a new quarterly dividend. The company will pay out $0.68 per share, dispensing the cash on Nov. 16 to stockholders of record as of Nov. 2. On Thursday's closing share price, the distribution yields 3.7%.
Hasbro seems very comfortable with that amount; it has paid it in each of the preceding seven quarters. Prior to that, the company handed out $0.63 per share. Although it has had its ups and downs in the frequently trend-driven toy and gaming industries, it has been a steady and reliable dividend payer since the beginning of 1981.
Image source: Hasbro.
Hasbro's Q2 of fiscal 2020 earnings were released on Monday, revealing a worrying 29% year-over-year revenue decline, and a plunge well into the red on the bottom line (to nearly $34 million, from Q2 2019's $13.4 million profit). Much of this, not surprisingly, can be attributed to the coronavirus pandemic, as retail stores were forced to close temporarily and Hasbro's supply chain suffered disruptions.
Compounding that, a lack of compelling new content from key toy license partner Walt Disney contributed to a 35% decline in the partner brands segment. All in all for the quarter, only one of the company's five divisions -- gaming -- saw an increase in sales.
Maintaining the dividend might not be enough to keep investors in this game. Hasbro's shares slumped by nearly 1% on Thursday, a deeper fall than that suffered by many peer consumer goods stocks, and the top equity indexes on the day.
The Link LonkJuly 31, 2020 at 05:13AM
https://www.fool.com/investing/2020/07/30/hasbro-declares-fresh-dividend-yield-is-37.aspx
Hasbro Declares Fresh Dividend; Yield is 3.7% - The Motley Fool
https://news.google.com/search?q=fresh&hl=en-US&gl=US&ceid=US:en
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