AZZ Inc Declares Quarterly Dividend of $0.17 (NYSE:AZZ)

AZZ Inc (NYSE:AZZ) declared a quarterly dividend on Tuesday, July 2nd, Zacks reports. Investors of record on Monday, July 22nd will be given a dividend of 0.17 per share by the industrial products company on Monday, August 5th. This represents a $0.68 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date is Friday, July 19th.

AZZ has raised its dividend by an average of 4.3% per year over the last three years. AZZ has a dividend payout ratio of 30.9% meaning its dividend is sufficiently covered by earnings. Analysts expect AZZ to earn $3.14 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 21.7%.

Shares of NYSE AZZ opened at $45.78 on Thursday. AZZ has a one year low of $37.43 and a one year high of $56.05. The firm has a market cap of $1.21 billion, a price-to-earnings ratio of 23.36 and a beta of 1.43. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.86 and a quick ratio of 2.01. The business’s 50-day simple moving average is $44.64.

AZZ (NYSE:AZZ) last posted its earnings results on Monday, July 8th. The industrial products company reported $0.81 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.10. The firm had revenue of $289.10 million during the quarter, compared to analyst estimates of $277.20 million. AZZ had a return on equity of 9.44% and a net margin of 5.95%. The company’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.60 EPS. On average, equities research analysts forecast that AZZ will post 2.59 EPS for the current fiscal year.

Separately, Zacks Investment Research raised Global Ship Lease from a “hold” rating to a “strong-buy” rating and set a $7.75 price objective on the stock in a research note on Monday, June 3rd. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $50.33.

AZZ Company Profile

AZZ Inc provides galvanizing and metal coating services, welding solutions, specialty electrical equipment, and highly engineered services to the power generation, transmission, distribution, refining, and industrial markets. The company operates through two segments, Energy Segment and Metal Coatings.

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Dividend History for AZZ (NYSE:AZZ)

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