Tecnoglass Inc. (NASDAQ:TGLS) to Issue $0.15 Quarterly Dividend

Tecnoglass Inc. (NASDAQ:TGLS) declared a quarterly dividend on Wednesday, March 12th, RTT News reports. Stockholders of record on Monday, March 31st will be given a dividend of 0.15 per share on Wednesday, April 30th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date of this dividend is Monday, March 31st.

Tecnoglass has raised its dividend by an average of 48.2% annually over the last three years. Tecnoglass has a payout ratio of 12.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Tecnoglass to earn $4.18 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 14.4%.

Tecnoglass Stock Performance

Shares of TGLS stock opened at $70.76 on Friday. The stock has a market cap of $3.33 billion, a PE ratio of 22.11 and a beta of 1.94. The company has a current ratio of 2.21, a quick ratio of 1.63 and a debt-to-equity ratio of 0.20. Tecnoglass has a 12 month low of $40.94 and a 12 month high of $86.99. The company’s fifty day moving average price is $73.84 and its 200-day moving average price is $74.51.

Wall Street Analyst Weigh In

Separately, StockNews.com began coverage on Tecnoglass in a research note on Saturday, December 14th. They issued a “hold” rating on the stock. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Tecnoglass presently has a consensus rating of “Hold” and a consensus price target of $77.40.

Tecnoglass Company Profile

Tecnoglass Inc manufactures, supplies, and installs architectural glass, windows, and associated aluminum and vinyl products for commercial and residential construction markets in Colombia, the United States, Panama, and internationally. The company provides low emissivity, laminated/thermo-laminated, thermo-acoustic, tempered, silk-screened, curved, and digital print glass products.