Lindsay Co. (LNN) To Go Ex-Dividend on November 15th

Lindsay Co. (NYSE:LNN) declared a quarterly dividend on Friday, October 25th,RTT News reports. Investors of record on Friday, November 15th will be given a dividend of 0.36 per share by the industrial products company on Friday, November 29th. This represents a $1.44 annualized dividend and a yield of 1.15%. The ex-dividend date of this dividend is Friday, November 15th.

Lindsay has raised its dividend by an average of 2.8% annually over the last three years and has increased its dividend annually for the last 22 consecutive years. Lindsay has a dividend payout ratio of 25.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect Lindsay to earn $6.23 per share next year, which means the company should continue to be able to cover its $1.44 annual dividend with an expected future payout ratio of 23.1%.

Lindsay Stock Performance

Lindsay stock opened at $125.70 on Wednesday. The stock’s 50 day moving average price is $121.10 and its 200 day moving average price is $119.15. The firm has a market capitalization of $1.36 billion, a PE ratio of 20.88 and a beta of 0.61. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.69 and a current ratio of 3.92. Lindsay has a one year low of $109.27 and a one year high of $135.05.

Lindsay (NYSE:LNN) last announced its earnings results on Thursday, October 24th. The industrial products company reported $1.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.01 by $0.16. Lindsay had a return on equity of 12.86% and a net margin of 10.91%. The company had revenue of $155.00 million for the quarter, compared to analyst estimates of $145.37 million. During the same period in the prior year, the company posted $1.74 EPS. Lindsay’s quarterly revenue was down 7.2% on a year-over-year basis. As a group, sell-side analysts expect that Lindsay will post 5.66 EPS for the current fiscal year.

Lindsay Company Profile

Lindsay Corporation, together with its subsidiaries, provides water management and road infrastructure products and services in the United States and internationally. It operates in two segments, Irrigation and Infrastructure. The Irrigation segment manufactures and markets center pivot, lateral move irrigation systems, and irrigation controls under the Zimmatic brand; hose reel travelers under the Perrot brand; and chemical injection systems, variable rate irrigation systems, flow meters, weather stations, soil moisture sensors, and remote monitoring and control systems.