WD-40 (NASDAQ:WDFC) Plans $0.88 Quarterly Dividend

WD-40 (NASDAQ:WDFC) declared a quarterly dividend on Friday, October 4th, RTT News reports. Shareholders of record on Friday, October 18th will be paid a dividend of 0.88 per share by the specialty chemicals company on Thursday, October 31st. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date is Friday, October 18th.

WD-40 has raised its dividend by an average of 7.4% per year over the last three years and has increased its dividend annually for the last 16 consecutive years. WD-40 has a payout ratio of 61.9% meaning its dividend is sufficiently covered by earnings. Research analysts expect WD-40 to earn $5.68 per share next year, which means the company should continue to be able to cover its $3.52 annual dividend with an expected future payout ratio of 62.0%.

WD-40 Price Performance

Shares of WD-40 stock opened at $260.85 on Wednesday. The business has a 50 day simple moving average of $256.01 and a two-hundred day simple moving average of $242.12. WD-40 has a 12 month low of $194.09 and a 12 month high of $278.78. The stock has a market capitalization of $3.53 billion, a P/E ratio of 51.25 and a beta of -0.08. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.27 and a quick ratio of 1.56.

Analyst Ratings Changes

Separately, DA Davidson reduced their target price on WD-40 from $313.00 to $303.00 and set a “buy” rating for the company in a report on Thursday, July 11th.

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.