WD-40 (NASDAQ:WDFC) to Issue $0.94 Quarterly Dividend

WD-40 (NASDAQ:WDFC) announced a quarterly dividend on Tuesday, March 18th, RTT News reports. Stockholders of record on Friday, April 18th will be paid a dividend of 0.94 per share by the specialty chemicals company on Wednesday, April 30th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 1.55%.

WD-40 has raised its dividend payment by an average of 6.8% per year over the last three years and has raised its dividend annually for the last 16 consecutive years. WD-40 has a dividend payout ratio of 62.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect WD-40 to earn $6.05 per share next year, which means the company should continue to be able to cover its $3.76 annual dividend with an expected future payout ratio of 62.1%.

WD-40 Price Performance

WD-40 stock traded down $0.30 during midday trading on Tuesday, reaching $242.10. The company had a trading volume of 29,775 shares, compared to its average volume of 97,986. The firm’s fifty day simple moving average is $235.72 and its 200-day simple moving average is $253.49. WD-40 has a 12-month low of $211.03 and a 12-month high of $292.36. The company has a market capitalization of $3.28 billion, a P/E ratio of 46.22 and a beta of -0.10. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.44 and a quick ratio of 1.75.

WD-40 (NASDAQ:WDFC) last posted its quarterly earnings data on Friday, January 10th. The specialty chemicals company reported $1.39 EPS for the quarter, beating the consensus estimate of $1.29 by $0.10. WD-40 had a return on equity of 31.68% and a net margin of 11.78%. The firm had revenue of $153.30 million during the quarter, compared to the consensus estimate of $147.40 million. During the same period in the prior year, the company earned $1.28 EPS. The firm’s revenue was up 9.2% compared to the same quarter last year. As a group, equities analysts anticipate that WD-40 will post 5.42 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, DA Davidson reaffirmed a “buy” rating and issued a $322.00 price target on shares of WD-40 in a report on Monday, January 27th.

WD-40 Company Profile

WD-40 Company develops and sells maintenance products, and homecare and cleaning products in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company provides multi-purpose maintenance products that include aerosol sprays, non-aerosol trigger sprays, precision pens, and in liquid-bulk form products under the WD-40 Multi-Use brand name; specialty maintenance products, such as penetrants, degreasers, corrosion inhibitors, greases, lubricants, and rust removers under the WD-40 Specialist brand; and bike-specific products.