Worthington Enterprises, Inc. Announces Quarterly Dividend of $0.20 (NYSE:WOR)

Key Points

• Worthington Enterprises declared a quarterly dividend of $0.20 per share, payable December 29 to shareholders of record on December 15. The annualized dividend is $0.80 per share, offering an approximately 1.4% yield.
• The dividend appears well covered, with a 22.9% payout ratio and analysts expecting next year’s earnings to support a lower projected payout ratio of 19.0%.
• Worthington exceeded quarterly expectations, reporting $0.82 in EPS versus the $0.75 consensus and revenue of $343.89 million, up 13.2% year over year.

Worthington Enterprises, Inc. (NYSE:WOR - Get Free Report) declared a quarterly dividend on Tuesday, September 22nd. Stockholders of record on Tuesday, December 15th will be given a dividend of 0.20 per share by the industrial products company on Tuesday, December 29th. This represents a c) dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Tuesday, December 15th.

Worthington Enterprises has decreased its dividend by an average of 0.1%per year over the last three years. Worthington Enterprises has a payout ratio of 22.9% meaning its dividend is sufficiently covered by earnings. Analysts expect Worthington Enterprises to earn $4.20 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 19.0%.

Worthington Enterprises Price Performance

Shares of WOR traded up $0.27 on Wednesday, hitting $59.20. The company's stock had a trading volume of 651,000 shares, compared to its average volume of 235,730. The company has a market capitalization of $2.90 billion, a PE ratio of 19.04 and a beta of 1.30. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.37 and a quick ratio of 1.43. Worthington Enterprises has a fifty-two week low of $45.01 and a fifty-two week high of $67.54. The company has a 50 day moving average price of $57.56 and a 200 day moving average price of $55.47.

Worthington Enterprises (NYSE:WOR - Get Free Report) last released its quarterly earnings results on Tuesday, September 22nd. The industrial products company reported $0.82 EPS for the quarter, topping analysts' consensus estimates of $0.75 by $0.07. Worthington Enterprises had a return on equity of 16.79% and a net margin of 11.30%.The business had revenue of $343.89 million for the quarter, compared to analyst estimates of $331.26 million. During the same period in the prior year, the company earned $0.74 EPS. Worthington Enterprises's revenue for the quarter was up 13.2% on a year-over-year basis. On average, research analysts anticipate that Worthington Enterprises will post 3.75 earnings per share for the current fiscal year.

Worthington Enterprises Company Profile

Worthington Enterprises, Inc NYSE: WOR is a diversified manufacturer and branded products company focused primarily on consumer and building-product markets. The company develops, manufactures and markets products used by consumers, contractors and other professional customers.

Its consumer products activities include outdoor living, lawn and garden, tools and related products. Its portfolio has included brands such as Bernzomatic, Balloon Time, Mag-Torch and General Tools, although its product portfolio may change as the company manages its businesses and brands.

Worthington Enterprises also participates in the building-products industry, supplying products used in commercial and residential construction.

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