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Cummins (CMI) Declares Hike in Quarterly Stock Dividend
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Cummins Inc. (CMI - Free Report) announced that its board has approved an increase in its quarterly cash dividend on common stock to $1.08 per share from the earlier payout of $1.025 per share. The revised dividend will be paid on Sep 1 to shareholders of record as of Aug 18, 2017.
According to Tom Linebarger, chairman and CEO, Cummins, the company will maintain its strong returns by progressing with investments and offering products and services to customers.
Cummins is focused on enhancing shareholder value by pursuing aggressive share repurchases and increasing dividend payouts. In the first quarter of 2017, it returned $222 million to shareholders in the form of share buybacks and dividends. Prior to this, in 2016 the company had returned 75% of its full-year operating cash flow to shareholders in the form of share buybacks and dividends.
In 2017, Cummins plans to return 50% of its full-year operating cash flow to shareholders in the form of share repurchases and dividends.
Cummins is a leading global designer, manufacturer and distributor of diesel and natural gas engines, electric power generation systems, engine-related components, fuel systems, controls and air handling systems.
Headquartered in Columbus, IN, the company serves customers through a network of 600 company-owned and independent distributor facilities plus over 7,400 dealer locations.
Price Performance
Cummins has outperformed the Zacks categorized Auto-Tires-Trucks market in the last three months. The company’s share price increased 12.1% over this period compared with the industry’s 4.9% gain.
Zacks Rank & Key Picks
Currently, Cummins carries a Zacks Rank #3 (Hold).
Expected long-term growth rate for Allison Transmission Holdings, Volkswagen and Daimler are 11%, 17.5% and 2.8%, respectively.
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Cummins (CMI) Declares Hike in Quarterly Stock Dividend
Cummins Inc. (CMI - Free Report) announced that its board has approved an increase in its quarterly cash dividend on common stock to $1.08 per share from the earlier payout of $1.025 per share. The revised dividend will be paid on Sep 1 to shareholders of record as of Aug 18, 2017.
According to Tom Linebarger, chairman and CEO, Cummins, the company will maintain its strong returns by progressing with investments and offering products and services to customers.
Cummins is focused on enhancing shareholder value by pursuing aggressive share repurchases and increasing dividend payouts. In the first quarter of 2017, it returned $222 million to shareholders in the form of share buybacks and dividends. Prior to this, in 2016 the company had returned 75% of its full-year operating cash flow to shareholders in the form of share buybacks and dividends.
In 2017, Cummins plans to return 50% of its full-year operating cash flow to shareholders in the form of share repurchases and dividends.
Cummins is a leading global designer, manufacturer and distributor of diesel and natural gas engines, electric power generation systems, engine-related components, fuel systems, controls and air handling systems.
Headquartered in Columbus, IN, the company serves customers through a network of 600 company-owned and independent distributor facilities plus over 7,400 dealer locations.
Price Performance
Cummins has outperformed the Zacks categorized Auto-Tires-Trucks market in the last three months. The company’s share price increased 12.1% over this period compared with the industry’s 4.9% gain.
Zacks Rank & Key Picks
Currently, Cummins carries a Zacks Rank #3 (Hold).
Cummins Inc. Price and Consensus
Cummins Inc. Price and Consensus | Cummins Inc. Quote
Some better-ranked stocks in the auto space are Allison Transmission Holdings Inc. (ALSN - Free Report) , Volkswagen AG and Daimler AG . All three sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Expected long-term growth rate for Allison Transmission Holdings, Volkswagen and Daimler are 11%, 17.5% and 2.8%, respectively.
More Stock News: 8 Companies Verge on Apple-Like Run
Did you miss Apple's 9X stock explosion after they launched their iPhone in 2007? Now 2017 looks to be a pivotal year to get in on another emerging technology expected to rock the market. Demand could soar from almost nothing to $42 billion by 2025. Reports suggest it could save 10 million lives per decade which could in turn save $200 billion in U.S. healthcare costs.
A bonus Zacks Special Report names this breakthrough and the 8 best stocks to exploit it. Like Apple in 2007, these companies are already strong and coiling for potential mega-gains. Click to see them right now >>