AZZ Inc (AZZ) To Go Ex-Dividend on October 20th

AZZ Inc (NYSE:AZZ) declared a quarterly dividend on Monday, October 12th, Wall Street Journal reports. Shareholders of record on Wednesday, October 21st will be given a dividend of 0.17 per share by the industrial products company on Wednesday, November 4th. This represents a $0.68 annualized dividend and a yield of 1.95%. The ex-dividend date of this dividend is Tuesday, October 20th.

AZZ has increased its dividend by 9.7% over the last three years and has increased its dividend annually for the last 1 consecutive years. AZZ has a dividend payout ratio of 25.1% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect AZZ to earn $2.90 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 23.4%.

Shares of NYSE AZZ opened at $34.90 on Friday. The company’s 50-day simple moving average is $34.80 and its 200-day simple moving average is $32.11. AZZ has a 52-week low of $19.31 and a 52-week high of $49.46. The firm has a market cap of $910.05 million, a price-to-earnings ratio of 61.23 and a beta of 1.43. The company has a quick ratio of 0.96, a current ratio of 1.40 and a debt-to-equity ratio of 0.15.

AZZ (NYSE:AZZ) last announced its earnings results on Sunday, October 18th. The industrial products company reported $0.49 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.04. AZZ had a net margin of 3.30% and a return on equity of 8.68%. The business had revenue of $203.70 million for the quarter, compared to analyst estimates of $219.02 million. During the same quarter last year, the business earned $0.59 earnings per share. The company’s revenue for the quarter was down 13.8% compared to the same quarter last year. Equities research analysts anticipate that AZZ will post 1.96 EPS for the current fiscal year.

Several analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of AZZ from a “strong sell” rating to a “hold” rating in a research report on Wednesday, September 9th. ValuEngine lowered shares of AZZ from a “hold” rating to a “sell” rating in a research report on Tuesday, September 1st.

About AZZ

AZZ Inc provides galvanizing and metal coating services, welding solutions, specialty electrical equipment, and highly engineered services to the power generation, transmission, distribution, refining, and industrial markets. The company operates through two segments, Energy Segment and Metal Coatings.

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Dividend History for AZZ (NYSE:AZZ)

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