Franklin Electric Co., Inc. (NASDAQ:FELE) Raises Dividend to $0.27 Per Share

Franklin Electric Co., Inc. (NASDAQ:FELE) announced a quarterly dividend on Monday, January 27th,RTT News reports. Investors of record on Thursday, February 6th will be given a dividend of 0.265 per share by the industrial products company on Thursday, February 20th. This represents a $1.06 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date of this dividend is Thursday, February 6th. This is a boost from Franklin Electric’s previous quarterly dividend of $0.25.

Franklin Electric has raised its dividend payment by an average of 12.6% annually over the last three years and has raised its dividend annually for the last 22 consecutive years. Franklin Electric has a dividend payout ratio of 22.3% meaning its dividend is sufficiently covered by earnings. Analysts expect Franklin Electric to earn $4.26 per share next year, which means the company should continue to be able to cover its $1.06 annual dividend with an expected future payout ratio of 24.9%.

Franklin Electric Stock Performance

NASDAQ FELE opened at $99.24 on Tuesday. Franklin Electric has a 52-week low of $91.67 and a 52-week high of $111.94. The company has a 50-day simple moving average of $101.03 and a 200 day simple moving average of $101.80. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.06 and a current ratio of 2.40. The company has a market capitalization of $4.53 billion, a PE ratio of 25.12, a price-to-earnings-growth ratio of 1.96 and a beta of 1.00.

Wall Street Analysts Forecast Growth

Separately, Robert W. Baird decreased their price objective on shares of Franklin Electric from $107.00 to $105.00 and set a “neutral” rating for the company in a report on Wednesday, October 30th.

About Franklin Electric

Franklin Electric Co, Inc, together with its subsidiaries, designs, manufactures, and distributes water and fuel pumping systems worldwide. The company operates through Water Systems, Fueling Systems, and Distribution segments. The Water Systems segment offers submersible motors, drives, pumps, electronic controls, water treatment systems, monitoring devices, and related parts and equipment.