Lindsay Co. Plans Quarterly Dividend of $0.36 (NYSE:LNN)

Lindsay Co. (NYSE:LNN) announced a quarterly dividend on Friday, October 25th, RTT News reports. Investors of record on Friday, November 15th will be given a dividend of 0.36 per share by the industrial products company on Friday, November 29th. This represents a $1.44 annualized dividend and a dividend yield of 1.19%.

Lindsay has raised its dividend payment by an average of 2.8% per year over the last three years and has increased its dividend every year for the last 22 years. Lindsay has a dividend payout ratio of 25.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Lindsay to earn $5.51 per share next year, which means the company should continue to be able to cover its $1.44 annual dividend with an expected future payout ratio of 26.1%.

Lindsay Trading Down 1.9 %

NYSE LNN opened at $121.50 on Friday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.56 and a current ratio of 3.95. Lindsay has a fifty-two week low of $109.27 and a fifty-two week high of $135.05. The stock has a market cap of $1.32 billion, a P/E ratio of 18.44 and a beta of 0.61. The stock has a 50 day simple moving average of $120.91 and a two-hundred day simple moving average of $118.50.

Lindsay (NYSE:LNN) last released its quarterly earnings results on Thursday, October 24th. The industrial products company reported $1.17 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.13. Lindsay had a net margin of 11.75% and a return on equity of 14.41%. The business had revenue of $155.00 million for the quarter, compared to analysts’ expectations of $145.37 million. During the same quarter in the previous year, the business posted $1.74 earnings per share. The firm’s revenue for the quarter was down 7.2% compared to the same quarter last year. On average, analysts forecast that Lindsay will post 5.44 earnings per share for the current year.

About Lindsay

Lindsay Corporation, together with its subsidiaries, provides water management and road infrastructure products and services in the United States and internationally. It operates in two segments, Irrigation and Infrastructure. The Irrigation segment manufactures and markets center pivot, lateral move irrigation systems, and irrigation controls under the Zimmatic brand; hose reel travelers under the Perrot brand; and chemical injection systems, variable rate irrigation systems, flow meters, weather stations, soil moisture sensors, and remote monitoring and control systems.