Carlisle Companies Incorporated (CSL - Free Report) yesterday announced a reward for its shareholders in the form of an increase in the quarterly dividend payout rate. The increment marks its 44th consecutive year of a dividend rate increase.
We believe that such shareholder-friendly policies are reflective of the company’s strong cash position.
Inside the Headlines
As revealed, the board of directors of Carlisle approved a hike of 5% or 2.5 cents per share in the quarterly dividend rate. The revised rate now stands at 52.5 cents per share. On an annualized basis, the dividend increased to $2.10 per share from the previous rate of $2.00.
Carlisle will pay out the revised dividend on Sep 1, 2020, to shareholders of record as of Aug 18.
Sound Shareholder-Friendly Policies
The company firmly believes in rewarding shareholders handsomely through dividend payments and share buybacks. In the last three years (2017-2019), its dividend payouts totaled $288.5 million and it bought back shares worth $1,110.3 million.
In the first half of 2020, its dividend payout was $56 million, higher than $46.2 million in the year-ago comparable period. Moreover, the company repurchased shares worth $191.8 million in the first half of 2020.
Zacks Rank, Earnings Estimate Trend and Price Performance
With a market capitalization of $6.6 billion, Carlisle currently carries a Zacks Rank #3 (Hold). Amid the pandemic-induced difficulties, the company stands to benefit from solid backlog, strengthening medical and the U.S. reroofing market, acquired assets and cost-saving measures.
In the past three months, its shares have gained 1.1% compared with the industry’s growth of 12.8%.
Currently, the Zacks Consensus Estimate for the company’s earnings is pegged at $5.62 for 2020 and $7.44 for 2021, marking declines of 3.3% and 0.1% from the respective 30-day-ago figures.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
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Carlisle Companies Incorporated (CSL - Free Report) yesterday announced a reward for its shareholders in the form of an increase in the quarterly dividend payout rate. The increment marks its 44th consecutive year of a dividend rate increase.
We believe that such shareholder-friendly policies are reflective of the company’s strong cash position.
Inside the Headlines
As revealed, the board of directors of Carlisle approved a hike of 5% or 2.5 cents per share in the quarterly dividend rate. The revised rate now stands at 52.5 cents per share. On an annualized basis, the dividend increased to $2.10 per share from the previous rate of $2.00.
Carlisle will pay out the revised dividend on Sep 1, 2020, to shareholders of record as of Aug 18.
Sound Shareholder-Friendly Policies
The company firmly believes in rewarding shareholders handsomely through dividend payments and share buybacks. In the last three years (2017-2019), its dividend payouts totaled $288.5 million and it bought back shares worth $1,110.3 million.
In the first half of 2020, its dividend payout was $56 million, higher than $46.2 million in the year-ago comparable period. Moreover, the company repurchased shares worth $191.8 million in the first half of 2020.
Zacks Rank, Earnings Estimate Trend and Price Performance
With a market capitalization of $6.6 billion, Carlisle currently carries a Zacks Rank #3 (Hold). Amid the pandemic-induced difficulties, the company stands to benefit from solid backlog, strengthening medical and the U.S. reroofing market, acquired assets and cost-saving measures.
In the past three months, its shares have gained 1.1% compared with the industry’s growth of 12.8%.
Currently, the Zacks Consensus Estimate for the company’s earnings is pegged at $5.62 for 2020 and $7.44 for 2021, marking declines of 3.3% and 0.1% from the respective 30-day-ago figures.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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