Worthington Enterprises, Inc. (NYSE:WOR) Announces Dividend Increase – $0.20 Per Share

Worthington Enterprises, Inc. (NYSE:WOR) declared a quarterly dividend on Tuesday, June 23rd. Investors of record on Tuesday, September 15th will be paid a dividend of 0.20 per share by the industrial products company on Tuesday, September 29th. This represents a c) annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Tuesday, September 15th. This is a 5.3% increase from Worthington Enterprises’s previous quarterly dividend of $0.19.

Worthington Enterprises has decreased its dividend payment by an average of 0.1%per year over the last three years. Worthington Enterprises has a dividend payout ratio of 21.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect Worthington Enterprises to earn $3.92 per share next year, which means the company should continue to be able to cover its $0.76 annual dividend with an expected future payout ratio of 19.4%.

Worthington Enterprises Stock Down 0.6%

Worthington Enterprises stock opened at $61.11 on Wednesday. The firm has a market cap of $3.01 billion, a price-to-earnings ratio of 27.16 and a beta of 1.28. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.36 and a quick ratio of 1.44. Worthington Enterprises has a fifty-two week low of $45.01 and a fifty-two week high of $70.91. The firm has a fifty day moving average price of $56.26 and a two-hundred day moving average price of $54.62.

Worthington Enterprises (NYSE:WOR) last released its quarterly earnings results on Tuesday, June 23rd. The industrial products company reported $0.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.07). Worthington Enterprises had a net margin of 8.42% and a return on equity of 17.74%. The firm had revenue of $371.46 million for the quarter, compared to the consensus estimate of $386.49 million. During the same quarter last year, the company earned $1.06 earnings per share. The firm’s revenue was up 16.9% on a year-over-year basis. As a group, analysts forecast that Worthington Enterprises will post 3.41 earnings per share for the current year.

Worthington Enterprises Company Profile

Worthington Enterprises (NYSE:WOR) is a diversified metal manufacturing company that produces pressure vessels, engineered assemblies and fabricated metal products. The company’s portfolio includes the design and manufacture of cylinders for compressed gases, such as propane, natural gas and hydrogen, as well as transport tanks and other pressure-containment solutions for the industrial gas, energy and transportation markets. In addition to its pressure vessel operations, Worthington Enterprises offers metal processing and distribution services, supplying coil, sheet and plate products to customers across multiple industries.

Founded in 1955 and headquartered in Columbus, Ohio, Worthington Enterprises has grown from a single steel processing facility into a multi‐division organization with operations in the United States, Canada and Mexico.