AZZ Inc (NYSE:AZZ) declared a quarterly dividend on Tuesday, July 2nd, Zacks reports. Stockholders of record on Monday, July 22nd will be paid 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 dividend yield of 1.47%. The ex-dividend date is Friday, July 19th.

AZZ has raised its dividend payment 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. Research 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 AZZ stock opened at $46.30 on Wednesday. The stock has a market cap of $1.21 billion, a P/E ratio of 23.62 and a beta of 1.43. The stock’s 50 day simple moving average is $44.59. AZZ has a 12-month low of $37.43 and a 12-month high of $56.05. The company has a current ratio of 2.86, a quick ratio of 2.01 and a debt-to-equity ratio of 0.07.

AZZ (NYSE:AZZ) last issued its earnings results on Monday, July 8th. The industrial products company reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.10. The business had revenue of $289.10 million during the quarter, compared to the consensus estimate 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 prior year, the business posted $0.60 EPS. Analysts expect that AZZ will post 2.59 earnings per share for the current year.

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

About AZZ

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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