Mattel Raises Dividend 11% as Q4 Profit Beats View (MAT)

Filed in ceo, dividend, Gold, o, revenue, shares by on February 2, 2011 0 Comments

Toymaker Mattel, Inc. ( MAT ) on Wednesday said its fourth quarter profit fell 1% from last year, but its results beat analyst expectations and it boosted its quarterly dividend payout. The El Segundo, CA-based company reported fourth quarter net income of $325.2 million, or 89 cents per share, compared with $328.4 million, also 89 cents per share, in the year-ago period. Net sales rose about 9% from last year to $2.12 billion. On average, Wall Street analysts expected a smaller profit of 86 cents per share, on lower revenue of $2.09 billion. Mattel’s board of directors also authorized an 11% hike in its quarterly dividend payout, to 23 cents per share. CEO Robert A. Eckert commented, “Our priority for 2011 is to accelerate our performance by inculcating our new vision and implementing a new organizational structure; uncovering the next layer of cost cutting opportunities; generating significant cash flow; and deploying capital in a disciplined and opportunistic manner.” Mattel shares rose 36 cents, or +1.5%, in premarket trading Wednesday. The Bottom Line We have been recommending shares of Mattel ( MAT ) since Sept.2, 2009, when the stock was trading at $17.61. The company will now have a dividend payout of 3.81%, based on the higher dividend payout, and last night’s closing stock price of $24.15. Mattel, Inc. ( MAT ) is a “Recommended” dividend stock, holding a DARS™ Rating of 3.5 out of 5 stars. Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

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Mattel Raises Dividend 11% as Q4 Profit Beats View (MAT)

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