Standex International Corporation (NYSE:SXI) Declares Quarterly Dividend of $0.36

Key Points

• Standex International raised its quarterly dividend 5.9% to $0.36 per share, payable November 20 to shareholders of record November 6. The dividend implies an annualized payout of $1.44 and a 0.6% yield.
• The company has increased its dividend for 14 consecutive years, with a payout ratio of 15.7%, suggesting the dividend is well covered by earnings.
• Standex reported quarterly earnings of $2.45 per share, topping estimates of $2.35, while revenue rose 2.8% year over year to $228.25 million.

Standex International Corporation (NYSE:SXI - Get Free Report) announced a quarterly dividend on Thursday, October 22nd. Shareholders of record on Friday, November 6th will be paid a dividend of $0.36 per share by the industrial products company on Friday, November 20th. This represents a $1.44 annualized dividend and a yield of 0.6%. The ex-dividend date is Friday, November 6th. This is a 5.9% increase from Standex International's previous quarterly dividend of $0.34.

Standex International has increased its dividend payment by an average of 0.1% annually over the last three years and has increased its dividend annually for the last 14 consecutive years. Standex International has a payout ratio of 15.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Standex International to earn $11.81 per share next year, which means the company should continue to be able to cover its $1.36 annual dividend with an expected future payout ratio of 11.5%.

Standex International Price Performance

SXI opened at $243.36 on Friday. The company has a current ratio of 2.40, a quick ratio of 1.84 and a debt-to-equity ratio of 0.69. The stock has a market capitalization of $2.99 billion, a P/E ratio of 28.07, a PEG ratio of 3.00 and a beta of 1.07. The stock has a 50-day moving average price of $281.95 and a 200-day moving average price of $289.05. Standex International has a 12-month low of $215.62 and a 12-month high of $363.89.

Standex International (NYSE:SXI - Get Free Report) last announced its quarterly earnings data on Friday, July 31st. The industrial products company reported $2.45 earnings per share for the quarter, beating analysts' consensus estimates of $2.35 by $0.10. The company had revenue of $228.25 million for the quarter, compared to analysts' expectations of $226.47 million. Standex International had a return on equity of 14.47% and a net margin of 11.73%. Standex International's revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period last year, the firm posted $2.28 EPS. Equities analysts predict that Standex International will post 9.98 earnings per share for the current fiscal year.

Standex International Company Profile

Standex International Corporation NYSE: SXI is a diversified industrial manufacturer that develops and produces specialized equipment, components and engineered products for customers in a range of commercial and industrial markets. The company serves original equipment manufacturers and other businesses through a portfolio of operations focused on applications requiring specialized technology, precision manufacturing and customized solutions.

Its businesses include Standex Electronics, which makes sensors, switches, relays, magnetic components and power magnetics; Standex Engraving, which provides engraved tooling, mold texturing and patterned rolls for plastics, packaging and other manufacturing applications; and Standex Engineering Technologies, which develops engineered components and systems for industrial and mobile equipment.

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