Raven Hikes Dividend - Analyst Blog
2012年3月28日 - 12:46AM
Zacks
Raven Industries Inc. (RAVN) announced that its
board of directors has approved a 17% increase to its regular
quarterly dividend. This is the 26th consecutive enhancement in its
dividend payment.
Raven will now pay 21 cents per share to its shareholders, 3
cents more than the prior dividend of 18 cents per share. The
increased dividend will be paid on April 25, 2011, to shareholders
of record as on April 10, 2011.
Raven has a long history of hiking dividends. The current hike
comes exactly after a year. The company had last increased its
dividend, in March 2011, from 16 cents to 18 cents.
Raven recently reported strong fourth quarter financial numbers.
It delivered earnings of 60 cents per share, increasing 46% from
the 41 cents per share earned in the year-ago quarter. Sales
increased 36% year over year to $96.3 million. The outperformance
was attributable to double-digit sales seen across all
segments.
Raven’s fiscal 2012 earnings were $2.77 per share, surpassing
the prior-year figure of $2.24 per share while revenues surged 21%
to $381.5 million.
Raven had a cash balance of $25.8 million as of January 31,
2012, down from $39 million as of January 31, 2011. The lower cash
balance was largely due to higher capital expenditures and a $12
million payment for the Vista Research, Inc. acquisition. The
company also reported $43.8 million of cash from operating
activities, up from $42.1 million in fiscal 2010. The company
returned approximately $13 million cash to shareholders through
dividends in fiscal 2011. The fiscal marked the 40th
year of the company’s consecutive dividend payments.
The company continues with its strategy of investing
significantly in the research and development, thereby, helping to
maintain the strong financial results. In addition, Raven has ample
scope to fund future growth and increase dividends with the support
from debt-free balance sheet and solid cash flow. Thus, we have a
Zacks #2 Rank, implying a short-term “Buy” recommendation for the
stock.
South Dakota-based Raven Industries Inc. is an industrial
manufacturer providing a variety of products for the agricultural,
industrial, construction and military/aerospace markets. The
company operates through four business segments: Engineered Films,
Electronic Systems, Applied Technology and
Aerostar. Graco Inc. (GGG)
and Spartech Corp. (SEH) are its
peers.
GRACO INC (GGG): Free Stock Analysis Report
RAVEN INDS INC (RAVN): Free Stock Analysis Report
SPARTECH CORP (SEH): Free Stock Analysis Report
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