Lindsay Co. to Issue Quarterly Dividend of $0.36 (NYSE:LNN)

Lindsay Co. (NYSE:LNN) declared a quarterly dividend on Friday, October 25th,RTT News reports. Investors of record on Friday, November 15th will be paid a dividend of 0.36 per share by the industrial products company on Friday, November 29th. This represents a $1.44 dividend on an annualized basis 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 raised its dividend annually for the last 22 consecutive years. Lindsay has a dividend payout ratio of 25.1% meaning its dividend is sufficiently covered by earnings. Research 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 Price Performance

Shares of LNN opened at $125.70 on Wednesday. The company has a market cap of $1.36 billion, a P/E ratio of 20.88 and a beta of 0.61. The stock has a fifty day moving average price of $121.10 and a 200 day moving average price of $119.15. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.92 and a quick ratio of 2.69. Lindsay has a 12 month low of $109.27 and a 12 month high of $135.05.

Lindsay (NYSE:LNN) last released its quarterly earnings results on Thursday, October 24th. The industrial products company reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $145.37 million. During the same quarter in the prior year, the business posted $1.74 earnings per share. The company’s revenue for the quarter was down 7.2% compared to the same quarter last year. On average, research analysts forecast that Lindsay will post 5.66 earnings per share for the current year.

About Lindsay

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.