AZZ Inc (AZZ) Plans Quarterly Dividend of $0.17

AZZ Inc (NYSE:AZZ) declared a quarterly dividend on Monday, April 8th, Wall Street Journal reports. Investors of record on Wednesday, April 24th will be given a dividend of 0.17 per share by the industrial products company on Wednesday, May 8th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date of this dividend is Tuesday, April 23rd.

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% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect AZZ to earn $2.52 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 27.0%.

Shares of AZZ stock traded up $0.54 during trading on Monday, reaching $44.51. The company’s stock had a trading volume of 113,504 shares, compared to its average volume of 87,815. The company has a quick ratio of 1.97, a current ratio of 2.87 and a debt-to-equity ratio of 0.46. AZZ has a one year low of $37.43 and a one year high of $56.05. The stock has a market capitalization of $1.15 billion, a price-to-earnings ratio of 32.97 and a beta of 1.36.

A number of research firms recently issued reports on AZZ. Zacks Investment Research raised AZZ from a “sell” rating to a “hold” rating in a report on Monday, March 18th. Stifel Nicolaus reiterated a “hold” rating and issued a $50.00 price objective on shares of AZZ in a research report on Wednesday, December 19th. Three equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $55.33.

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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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