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Thor (THO) Announces 5% Hike in Quarterly Cash Dividend

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Thor Industries, Inc. (THO - Free Report) announced that its board approved a 5% increase in its quarterly cash dividend on common stock to 39 cents per share. The earlier payout was 37 cents per share. The revised dividend will be paid on Nov 9 to shareholders of record as of Oct 25, 2018.

Prior to this hike, Thor’s board approved a dividend hike of 12% to 37 cents per share in October 2017. In subsequent quarters, the same amount was paid to the company’s shareholders.

Thor pays regular quarterly cash dividends and engages in share buyback programs to return value to its shareholders. In June 2018, Thor’s board authorized it to repurchase $250 million worth of shares over the next two years.

At the fiscal 2018 end, on Jul 31, 2018, the company had cash and cash equivalents of $275.2 million, up from $223.3 million in the same period of last fiscal. Further, Thor’s long-term debt was nil compared with $145 million recorded on Jul 31, 2017. A strong cash flow combined with gains from Jayco’s acquisition in 2016 enabled the company to pay off its remaining debt before the fiscal end and offer regular quarterly cash dividend. Similar to the last fiscal, Thor aims to return capital to shareholders in fiscal 2019 as well.

A few other stocks in the auto space are Allison Transmission Holdings, Inc. (ALSN - Free Report) , Advance Auto Parts, Inc. (AAP - Free Report) and AB Volvo (VLVLY - Free Report) . The long-term growth rate of Allison Transmission, Advance Auto and Volvo are 10%, 12.3% and 15%, respectively.

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