Gentex Corporation Declares Quarterly Dividend of $0.12 (NASDAQ:GNTX)

Key Points

• Gentex Corporation has declared a quarterly dividend of $0.12 per share, with shareholders set to receive this payment on October 22nd.
• The company reported a 14.8% year-over-year increase in revenue during its last quarter, with earnings per share (EPS) of $0.47, exceeding expectations.
• Gentex's Board of Directors has approved a stock buyback plan allowing the repurchase of 40 million shares, indicating confidence in the stock's value.

Gentex Corporation (NASDAQ:GNTX - Get Free Report) announced a quarterly dividend on Friday, August 22nd, RTT News reports. Stockholders of record on Wednesday, October 8th will be given a dividend of 0.12 per share by the auto parts company on Wednesday, October 22nd. This represents a c) dividend on an annualized basis and a dividend yield of 1.7%.

Gentex has a dividend payout ratio of 25.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Gentex to earn $2.15 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 22.3%.

Gentex Trading Up 0.4%

Shares of GNTX stock opened at $27.5250 on Friday. The stock has a 50 day moving average of $24.36 and a two-hundred day moving average of $23.45. Gentex has a 12 month low of $20.28 and a 12 month high of $31.75. The company has a market capitalization of $6.04 billion, a P/E ratio of 15.57 and a beta of 0.82.

Gentex (NASDAQ:GNTX - Get Free Report) last posted its earnings results on Friday, July 25th. The auto parts company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.39 by $0.08. The business had revenue of $657.86 million during the quarter, compared to the consensus estimate of $591.94 million. Gentex had a return on equity of 16.86% and a net margin of 16.82%.Gentex's revenue was up 14.8% on a year-over-year basis. During the same quarter last year, the company earned $0.37 EPS. Gentex has set its FY 2025 guidance at EPS. Sell-side analysts predict that Gentex will post 2.04 earnings per share for the current fiscal year.

Gentex declared that its Board of Directors has initiated a stock buyback plan on Wednesday, July 16th that allows the company to repurchase 40,000,000 shares. This repurchase authorization allows the auto parts company to buy shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board believes its stock is undervalued.

About Gentex

Gentex Corporation designs, develops, manufactures, markets, and supplies digital vision, connected car, dimmable glass, and fire protection products in the United States, Germany, Japan, Mexico, Republic of Korea, and internationally. It operates through Automotive Products and Other segments. The company offers automotive products, including interior and exterior electrochromic automatic-dimming rearview mirrors, automotive electronics, and non-automatic-dimming rearview mirrors for automotive passenger cars, light trucks, pick-up trucks, sport utility vehicles, and vans for original equipment manufacturers, automotive suppliers, and various aftermarket and accessory customers.

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