WD-40 (NASDAQ:WDFC) to Issue $0.94 Quarterly Dividend

WD-40 (NASDAQ:WDFC) declared a quarterly dividend on Tuesday, March 18th, RTT News reports. Stockholders of record on Friday, April 18th will be given a dividend of 0.94 per share by the specialty chemicals company on Wednesday, April 30th. This represents a $3.76 annualized dividend and a dividend yield of 1.54%.

WD-40 has increased its dividend payment by an average of 6.8% per year over the last three years and has raised its dividend every year for the last 16 years. WD-40 has a payout ratio of 62.3% meaning its dividend is sufficiently covered by earnings. Analysts expect WD-40 to earn $6.05 per share next year, which means the company should continue to be able to cover its $3.76 annual dividend with an expected future payout ratio of 62.1%.

WD-40 Stock Up 0.8 %

WD-40 stock opened at $244.25 on Wednesday. The stock has a market capitalization of $3.31 billion, a PE ratio of 46.79 and a beta of -0.10. WD-40 has a twelve month low of $211.03 and a twelve month high of $292.36. The company has a quick ratio of 1.75, a current ratio of 2.44 and a debt-to-equity ratio of 0.37. The company has a 50 day moving average of $235.86 and a 200-day moving average of $253.35.

WD-40 (NASDAQ:WDFC) last released its quarterly earnings results on Friday, January 10th. The specialty chemicals company reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.29 by $0.10. WD-40 had a net margin of 11.78% and a return on equity of 31.68%. The company had revenue of $153.30 million during the quarter, compared to analysts’ expectations of $147.40 million. During the same quarter in the prior year, the company earned $1.28 earnings per share. The business’s quarterly revenue was up 9.2% compared to the same quarter last year. On average, equities research analysts anticipate that WD-40 will post 5.42 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, DA Davidson restated a “buy” rating and set a $322.00 target price on shares of WD-40 in a report on Monday, January 27th.

WD-40 Company Profile

WD-40 Company develops and sells maintenance products, and homecare and cleaning products in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company provides multi-purpose maintenance products that include aerosol sprays, non-aerosol trigger sprays, precision pens, and in liquid-bulk form products under the WD-40 Multi-Use brand name; specialty maintenance products, such as penetrants, degreasers, corrosion inhibitors, greases, lubricants, and rust removers under the WD-40 Specialist brand; and bike-specific products.