Lincoln Electric Holdings, Inc. (NASDAQ:LECO) Declares Dividend Increase - $0.87 Per Share

Key Points

• Lincoln Electric increased its quarterly dividend by 10.1% to $0.87 per share, or $3.48 annualized, representing a 1.3% yield. The dividend is payable January 15 to shareholders of record on December 31.
• The company has raised its dividend for 30 consecutive years, with a current earnings payout ratio of 31.7%, indicating substantial coverage.
• Lincoln Electric’s latest quarterly results exceeded expectations, with EPS of $2.93 versus the $2.81 consensus and revenue of $1.22 billion, up 12% year over year.

Lincoln Electric Holdings, Inc. (NASDAQ:LECO - Get Free Report) declared a quarterly dividend on Wednesday, October 14th. Stockholders of record on Thursday, December 31st will be given a dividend of $0.87 per share by the industrial products company on Friday, January 15th. This represents a $3.48 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Thursday, December 31st. This is a 10.1% increase from Lincoln Electric's previous quarterly dividend of $0.79.

Lincoln Electric has raised its dividend payment by an average of 0.1% annually over the last three years and has raised its dividend annually for the last 30 consecutive years. Lincoln Electric has a dividend payout ratio of 31.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Lincoln Electric to earn $12.43 per share next year, which means the company should continue to be able to cover its $3.16 annual dividend with an expected future payout ratio of 25.4%.

Lincoln Electric Trading Down 1.8%

NASDAQ LECO opened at $257.81 on Thursday. Lincoln Electric has a 1-year low of $216.22 and a 1-year high of $310.00. The company has a current ratio of 1.98, a quick ratio of 1.20 and a debt-to-equity ratio of 0.74. The company has a market capitalization of $14.05 billion, a PE ratio of 25.76, a price-to-earnings-growth ratio of 1.57 and a beta of 1.21. The firm's fifty day simple moving average is $271.59 and its 200-day simple moving average is $263.87.

Lincoln Electric (NASDAQ:LECO - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The industrial products company reported $2.93 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.81 by $0.12. Lincoln Electric had a return on equity of 39.23% and a net margin of 12.35%. The firm had revenue of $1.22 billion during the quarter, compared to analysts' expectations of $1.17 billion. During the same quarter last year, the firm earned $2.60 earnings per share. The business's revenue for the quarter was up 12.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Lincoln Electric will post 11.18 earnings per share for the current fiscal year.

About Lincoln Electric

Lincoln Electric Holdings, Inc is a Cleveland, Ohio-based manufacturer of welding, cutting and industrial automation products. The company serves manufacturers, fabricators, construction companies, maintenance and repair operations, utilities, and other industrial customers.

Its product portfolio includes arc-welding equipment, welding consumables such as electrodes and welding wire, plasma-cutting systems, welding accessories, and related safety products. Lincoln Electric also provides automated and robotic welding systems, engineered solutions, training, and technical support.

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