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Apogee (APOG) Declares 12% Dividend Hike for Shareholders
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The leader in technologies for design and development of value-added glass products, Apogee Enterprises, Inc. (APOG - Free Report) approved a 12% hike in its quarterly dividend. The company will now reward shareholders with a dividend of 14 cents per share as against the current 12.5 cents. This translates to a dividend of 56 cents per share on an annualized basis.
The raised dividend will be paid on Feb 15, 2017 to shareholders on record as of Jan 31. Based on the closing price of $54.47 as of Jan 10, the increased dividend translates to a yield of 1.03%. This current dividend yield is much higher than the industry yield of 0.44%.
Apogee possesses a strong cash balance that supports its effective capital deployment. The company remains focused on boosting shareholders’ value through dividend hikes as well as share buybacks. The company increases its dividend payout each year. The last dividend hike was announced on Jan 1, 2016, when the company had raised the payout by 14% to 12.5 cents.
Investors should note that Apogee’s shares have gained 18.3% in the last six months, significantly outpacing the 6.9% rise of the Zacks categorized Glass Products industry. Moreover, the company’s earnings have surpassed the Zacks Consensus Estimate in three out of the past four quarters, resulting in an average positive surprise of 13.24%.
Meanwhile, Apogee raised its earnings per share outlook to $2.85–$2.95 for fiscal 2017. The upbeat guidance came on the back of solid execution of strategies to improve operational performance, productivity and project selection.
Zacks Rank & Stocks to Consider
Currently, Apogee flaunts a Zacks Rank #1 (Strong Buy).
Altra Industrial Motion has a positive average earnings surprise of 8.06% for the last four quarters. Actuant generated a positive average earnings surprise of 11.47% for the trailing four quarters. Deere delivered an average positive earnings surprise of 58.17% over the last four quarters.
Zacks' Top 10 Stocks for 2017
In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-hold tickers for the entirety of 2017?
Who wouldn't? As of early December, the 2016 Top 10 produced 5 double-digit winners including oil and natural gas giant Pioneer Natural Resources which racked up a stellar +50% gain. The new list is painstakingly hand-picked from 4,400 companies covered by the Zacks Rank. Be among the very first to see it>>
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Apogee (APOG) Declares 12% Dividend Hike for Shareholders
The leader in technologies for design and development of value-added glass products, Apogee Enterprises, Inc. (APOG - Free Report) approved a 12% hike in its quarterly dividend. The company will now reward shareholders with a dividend of 14 cents per share as against the current 12.5 cents. This translates to a dividend of 56 cents per share on an annualized basis.
The raised dividend will be paid on Feb 15, 2017 to shareholders on record as of Jan 31. Based on the closing price of $54.47 as of Jan 10, the increased dividend translates to a yield of 1.03%. This current dividend yield is much higher than the industry yield of 0.44%.
Apogee possesses a strong cash balance that supports its effective capital deployment. The company remains focused on boosting shareholders’ value through dividend hikes as well as share buybacks. The company increases its dividend payout each year. The last dividend hike was announced on Jan 1, 2016, when the company had raised the payout by 14% to 12.5 cents.
Apogee Enterprises, Inc. Price
Apogee Enterprises, Inc. Price | Apogee Enterprises, Inc. Quote
Investors should note that Apogee’s shares have gained 18.3% in the last six months, significantly outpacing the 6.9% rise of the Zacks categorized Glass Products industry. Moreover, the company’s earnings have surpassed the Zacks Consensus Estimate in three out of the past four quarters, resulting in an average positive surprise of 13.24%.
Meanwhile, Apogee raised its earnings per share outlook to $2.85–$2.95 for fiscal 2017. The upbeat guidance came on the back of solid execution of strategies to improve operational performance, productivity and project selection.
Zacks Rank & Stocks to Consider
Currently, Apogee flaunts a Zacks Rank #1 (Strong Buy).
Other similarly ranked stocks in the same space include Altra Industrial Motion Corp. , Actuant Corporation and Deere & Company (DE - Free Report) . You can see the complete list of today’s Zacks #1 Rank stocks here.
Altra Industrial Motion has a positive average earnings surprise of 8.06% for the last four quarters. Actuant generated a positive average earnings surprise of 11.47% for the trailing four quarters. Deere delivered an average positive earnings surprise of 58.17% over the last four quarters.
Zacks' Top 10 Stocks for 2017
In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-hold tickers for the entirety of 2017?
Who wouldn't? As of early December, the 2016 Top 10 produced 5 double-digit winners including oil and natural gas giant Pioneer Natural Resources which racked up a stellar +50% gain. The new list is painstakingly hand-picked from 4,400 companies covered by the Zacks Rank. Be among the very first to see it>>