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

WD-40 (NASDAQ:WDFC) declared 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 1.54%.

WD-40 has increased its dividend payment by an average of 6.8% annually over the last three years and has increased its dividend every year for the last 16 years. WD-40 has a payout ratio of 62.3% indicating that its dividend is sufficiently covered by earnings. Equities research 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 Stock Performance

NASDAQ WDFC opened at $244.25 on Wednesday. The firm has a 50-day moving average of $235.86 and a 200-day moving average of $253.35. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.75 and a current ratio of 2.44. The stock has a market cap of $3.31 billion, a PE ratio of 46.79 and a beta of -0.10. WD-40 has a 52-week low of $211.03 and a 52-week high of $292.36.

WD-40 (NASDAQ:WDFC) last posted its earnings results on Friday, January 10th. The specialty chemicals company reported $1.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.29 by $0.10. The company had revenue of $153.30 million during the quarter, compared to analysts’ expectations of $147.40 million. WD-40 had a net margin of 11.78% and a return on equity of 31.68%. WD-40’s quarterly revenue was up 9.2% compared to the same quarter last year. During the same quarter last year, the company posted $1.28 EPS. On average, sell-side analysts anticipate that WD-40 will post 5.42 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, DA Davidson reiterated a “buy” rating and issued a $322.00 price objective on shares of WD-40 in a research note on Monday, January 27th.

About WD-40

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.