Staples (SPLS) Stock Continues To Decline Despite A Dividend Announcement

NEW YORK (TheStreet) -- Staples (SPLS) announced a quarterly cash dividend of 12 cents per share of common stock to be payable July 17 for shareholders of record as of June 27.

The 12 cent dividend remains in-line with the previous six quarters and is the highest yield since its 10 year peak of 33 cents in 2008.

Staples shares are down -1.1% to $11.05 today and down -11.5% over the past 30 days.

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TheStreet Ratings team rates STAPLES INC as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:

"We rate STAPLES INC (SPLS) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its reasonable valuation levels, good cash flow from operations and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, we also find weaknesses including unimpressive growth in net income, poor profit margins and a generally disappointing performance in the stock itself."

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