Meridian Bioscience, Inc. (VIVO) reported first quarter earnings of $0.15 per share on $37.3 million in revenue, badly missing consensus estimates. The company also made a disappointing dividend announcement.
Analysts were expecting a profit of $0.19 per share and sales of $40.6 million, on average.
Meridian declared a quarterly dividend of $0.19 per share, the same amount paid each of the last four quarters. This is the first time the company has held its dividend flat for five consecutive quarters since 1999. The company had raised its dividend to start every calendar year stretching back to 2000.
Shares of VIVO fell as low as $21.49 (-7.57%) in early trading, where they feature a 3.54% dividend yield.