Worthington Industries, Inc. (WOR - 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 10th consecutive year of a dividend rate increase.
We believe that such shareholder-friendly policies of the company reflect a strong cash position.
Inside the Headlines
As revealed, the board of directors of Worthington approved a hike of 4.2% or one cent per share in the quarterly dividend rate. The revised rate now stands at 25 cents per share. On an annualized basis, the dividend increased to $1.00 per share from the previous rate of 96 cents.
Worthington will pay out the revised dividend on Sep 29, 2020, to shareholders of record as of Sep 15.
Sound Shareholder-Friendly Policies
The company firmly believes in rewarding shareholders handsomely through dividend payments and share buybacks. Its dividend payout amounted to 92 cents per share in fiscal 2019 (ended May 2019), higher than 80 cents in fiscal 2017 (ended May 2017). Moreover, the company repurchased shares worth $168.1 million in fiscal 2019.
We believe that impressive financial performance in the quarters ahead will likely enable it to continue rewarding shareholders handsomely through dividend increments.
Zacks Rank, Earnings Estimate Trend and Price Performance
With a market capitalization of $2 billion, Worthington currently carries a Zacks Rank #3 (Hold). In the past three months, the company’s shares have gained 36.8% compared with the industry’s growth of 19%.
The Zacks Consensus Estimate for its earnings is pegged at $2.32 for fiscal 2021 (ending May 2021, reflecting a decline of 1.3% from the 60-day ago figure.
Worthington Industries, Inc. Price and Consensus
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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Worthington Industries, Inc. (WOR - 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 10th consecutive year of a dividend rate increase.
We believe that such shareholder-friendly policies of the company reflect a strong cash position.
Inside the Headlines
As revealed, the board of directors of Worthington approved a hike of 4.2% or one cent per share in the quarterly dividend rate. The revised rate now stands at 25 cents per share. On an annualized basis, the dividend increased to $1.00 per share from the previous rate of 96 cents.
Worthington will pay out the revised dividend on Sep 29, 2020, to shareholders of record as of Sep 15.
Sound Shareholder-Friendly Policies
The company firmly believes in rewarding shareholders handsomely through dividend payments and share buybacks. Its dividend payout amounted to 92 cents per share in fiscal 2019 (ended May 2019), higher than 80 cents in fiscal 2017 (ended May 2017). Moreover, the company repurchased shares worth $168.1 million in fiscal 2019.
We believe that impressive financial performance in the quarters ahead will likely enable it to continue rewarding shareholders handsomely through dividend increments.
Zacks Rank, Earnings Estimate Trend and Price Performance
With a market capitalization of $2 billion, Worthington currently carries a Zacks Rank #3 (Hold). In the past three months, the company’s shares have gained 36.8% compared with the industry’s growth of 19%.
The Zacks Consensus Estimate for its earnings is pegged at $2.32 for fiscal 2021 (ending May 2021, reflecting a decline of 1.3% from the 60-day ago figure.
Worthington Industries, Inc. Price and Consensus
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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