Regal Rexnord Corporation (NYSE:RRX) Plans $0.35 Quarterly Dividend

Key Points

• Regal Rexnord declared a quarterly dividend of $0.35 per share, payable on October 14 to shareholders of record on September 30. The dividend yields about 0.7%.
• The company’s dividend appears well covered, with a 12.6% payout ratio and expected future payout ratio of 10.4% based on analyst earnings estimates.
• Regal Rexnord recently beat earnings expectations, reporting $2.17 EPS on $1.48 billion in revenue for the quarter, and the stock was up 3.7% with shares trading around $213.27.

Regal Rexnord Corporation (NYSE:RRX - Get Free Report) declared a quarterly dividend on Monday, July 20th. Stockholders of record on Wednesday, September 30th will be given a dividend of 0.35 per share on Wednesday, October 14th. This represents a c) annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Wednesday, September 30th.

Regal Rexnord has raised its dividend by an average of 0.0%per year over the last three years. Regal Rexnord has a payout ratio of 12.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Regal Rexnord to earn $13.49 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 10.4%.

Regal Rexnord Stock Up 3.7%

Shares of NYSE:RRX opened at $213.27 on Wednesday. The company has a market capitalization of $14.20 billion, a price-to-earnings ratio of 49.60, a P/E/G ratio of 1.93 and a beta of 1.08. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.17 and a quick ratio of 1.08. The business's 50-day moving average is $211.72 and its 200-day moving average is $198.61. Regal Rexnord has a 1 year low of $127.96 and a 1 year high of $247.80.

Regal Rexnord (NYSE:RRX - Get Free Report) last released its earnings results on Thursday, May 7th. The company reported $2.17 EPS for the quarter, topping the consensus estimate of $2.11 by $0.06. The business had revenue of $1.48 billion during the quarter, compared to analysts' expectations of $1.43 billion. Regal Rexnord had a return on equity of 9.49% and a net margin of 4.78%.The firm's revenue was up 4.3% on a year-over-year basis. During the same quarter last year, the firm posted $2.15 earnings per share. Equities research analysts predict that Regal Rexnord will post 10.64 earnings per share for the current year.

About Regal Rexnord

Regal Rexnord Corporation NYSE: RRX is a global industrial manufacturer specializing in electric motors, power generation equipment and automated motion control systems. The company designs, engineers and produces a broad portfolio of products that includes energy-efficient electric motors, variable frequency drives, gearboxes, couplings, bearings and power transmission components. These offerings support critical applications in industries such as heating, ventilation and air conditioning (HVAC), refrigeration, data centers, water treatment, food and beverage processing, mining, oil and gas, and material handling.

The company's operations are organized into multiple business segments that address distinct customer needs.

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.