Argan, Inc. (NYSE:AGX) Announces $0.50 Quarterly Dividend

Key Points

• $0.50 quarterly dividend announced for Argan, with a record date of April 22 and payable April 30, implying an annualized yield of about 0.3% and a payout ratio of 27.4% (well covered by earnings).
• Quarterly earnings beat: Argan reported EPS of $3.47 versus $1.99 expected and revenue of $262.1M (up 12.7% year-over-year), with a net margin of 14.6% and ROE of 33.6%.
• Stock profile: Shares trade in a 52-week range of $126.07–$615.00, with a market cap of ~$8.22 billion, a P/E of 60.5 and a beta of 0.46.

Argan, Inc. (NYSE:AGX - Get Free Report) announced a quarterly dividend on Wednesday, April 8th. Stockholders of record on Wednesday, April 22nd will be given a dividend of 0.50 per share by the construction company on Thursday, April 30th. This represents a c) annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Wednesday, April 22nd.

Argan has decreased its dividend by an average of 0.1%per year over the last three years and has raised its dividend annually for the last 2 consecutive years. Argan has a dividend payout ratio of 27.4% indicating that its dividend is sufficiently covered by earnings.

Argan Stock Performance

Argan stock opened at $589.20 on Thursday. Argan has a fifty-two week low of $126.07 and a fifty-two week high of $615.00. The company has a market capitalization of $8.22 billion, a P/E ratio of 60.49 and a beta of 0.46. The stock has a 50-day simple moving average of $450.33 and a 200-day simple moving average of $365.89.

Argan (NYSE:AGX - Get Free Report) last posted its earnings results on Thursday, March 26th. The construction company reported $3.47 earnings per share for the quarter, beating the consensus estimate of $1.99 by $1.48. Argan had a return on equity of 33.62% and a net margin of 14.59%.The business had revenue of $262.05 million during the quarter, compared to the consensus estimate of $255.32 million. During the same period in the previous year, the business earned $2.22 EPS. The business's quarterly revenue was up 12.7% on a year-over-year basis.

Argan Company Profile

Argan, Inc NYSE: AGX is a holding company that provides professional technical and management services to the power generation and renewable energy industries. Through its wholly owned subsidiaries, the company delivers engineering, procurement and construction management (EPCM), commissioning and operations and maintenance (O&M) services for a broad range of energy facilities. Argan focuses on projects for utility, industrial and municipally owned clients, helping to bring efficient thermal and renewable energy plants into operation and maintain optimal performance over the asset life cycle.

The company's principal subsidiaries include Gemma Power Systems, which specializes in turnkey construction of combined-cycle, simple-cycle, cogeneration and renewable energy plants; Atlantic Projects Company, which provides electrical balance-of-plant, control systems, instrumentation and commissioning services; and Infrastructure Solutions, which offers industrial maintenance, outage support and modification services.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.