Columbus McKinnon Corporation (CMCO) to Issue Quarterly Dividend of $0.07 on November 16th

Columbus McKinnon Corporation (NASDAQ:CMCO) declared a quarterly dividend on Monday, October 26th. Investors of record on Friday, November 6th will be given a dividend of $0.07 per share by the industrial products company on Monday, November 16th. This represents a $0.28 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend is Friday, November 6th.

Columbus McKinnon has a dividend payout ratio of 9.5% meaning its dividend is sufficiently covered by earnings. Analysts expect Columbus McKinnon to earn $2.66 per share next year, which means the company should continue to be able to cover its $0.28 annual dividend with an expected future payout ratio of 10.5%.

Columbus McKinnon Stock Up 6.3%

Shares of CMCO opened at $14.93 on Wednesday. Columbus McKinnon has a twelve month low of $11.99 and a twelve month high of $24.40. The stock’s 50 day moving average is $16.46 and its two-hundred day moving average is $16.64.

Columbus McKinnon (NASDAQ:CMCO) last issued its earnings results on Thursday, July 30th. The industrial products company reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.34. The company had revenue of $531.46 million for the quarter, compared to analyst estimates of $501.27 million. The company’s quarterly revenue was up 125.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.50 earnings per share. Columbus McKinnon has set its FY 2027 guidance at 1.900-2.100 EPS. As a group, analysts anticipate that Columbus McKinnon will post 2.00 earnings per share for the current fiscal year.

Columbus McKinnon Company Profile

Columbus McKinnon Corporation is a global manufacturer of intelligent motion solutions and lifting equipment. The company designs and supplies products used to move, lift, position and secure materials in industrial, commercial and infrastructure applications.

Its product portfolio includes electric and manual hoists, overhead cranes, winches, actuators, rigging equipment, load-positioning systems, crane controls and safety systems. Columbus McKinnon also offers automation technologies and software intended to improve the efficiency, safety and control of material-handling operations.