10. Matthews International Corporation (NASDAQ:MATW)
Number of Hedge Fund Holders: 13
Share Price as of June 21: $24.8
Matthews International Corporation (NASDAQ:MATW) is an American diversified company that operates in a wide range of industries, including industrial technologies, brand solutions, and memorialization. On April 24, the company declared a quarterly dividend of $0.24 per share, which was consistent with its previous dividend. In 2023, the company achieved its 30th consecutive year of dividend growth, which makes MATW one of the best dividend stocks on our list. As of June 21, the stock has a dividend yield of 3.21%.
Matthews International Corporation’s (NASDAQ:MATW) Memorialization business has outperformed internal expectations in the most recent quarter. The segment remained robustly positioned, supported by a solid, reliable foundation of cemetery memorial and casket sales, along with an expanding range of cremation-related products and services. In addition, it has maintained strong performance post-COVID, with current sales and adjusted EBITDA significantly exceeding pre-COVID levels. In the first quarter of 2024, the Memorialization segment came in at $222.1 million, down slightly from $222.8 million in the prior year period.
