WD-40 Announces Quarterly Dividend of $0.88 (NASDAQ:WDFC)

WD-40 (NASDAQ:WDFC) announced a quarterly dividend on Tuesday, June 18th, Zacks reports. Stockholders of record on Friday, July 19th will be paid a dividend of 0.88 per share by the specialty chemicals company on Wednesday, July 31st. This represents a $3.52 annualized dividend and a dividend yield of 1.57%. The ex-dividend date of this dividend is Friday, July 19th.

WD-40 has increased its dividend by an average of 7.4% per year over the last three years and has increased its dividend every year for the last 16 years. WD-40 has a payout ratio of 59.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect WD-40 to earn $5.86 per share next year, which means the company should continue to be able to cover its $3.52 annual dividend with an expected future payout ratio of 60.1%.

WD-40 Price Performance

Shares of WD-40 stock opened at $224.47 on Thursday. WD-40 has a 52 week low of $182.53 and a 52 week high of $278.78. The company has a current ratio of 2.27, a quick ratio of 1.56 and a debt-to-equity ratio of 0.40. The stock has a market cap of $3.04 billion, a PE ratio of 44.80 and a beta of -0.07. The company’s 50-day moving average price is $229.59 and its two-hundred day moving average price is $245.23.

WD-40 (NASDAQ:WDFC) last released its earnings results on Tuesday, April 9th. The specialty chemicals company reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.01. The business had revenue of $139.10 million for the quarter, compared to the consensus estimate of $140.51 million. WD-40 had a net margin of 12.19% and a return on equity of 32.30%. The business’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.21 EPS. As a group, sell-side analysts anticipate that WD-40 will post 5.22 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director David Pendarvis acquired 328 shares of WD-40 stock in a transaction on Friday, April 12th. The stock was bought at an average cost of $234.75 per share, with a total value of $76,998.00. Following the completion of the purchase, the director now owns 4,934 shares of the company’s stock, valued at $1,158,256.50. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CFO Sara Kathleen Hyzer acquired 213 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The stock was purchased at an average price of $232.83 per share, with a total value of $49,592.79. Following the purchase, the chief financial officer now owns 2,676 shares of the company’s stock, valued at approximately $623,053.08. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director David Pendarvis acquired 328 shares of the stock in a transaction on Friday, April 12th. The shares were purchased at an average price of $234.75 per share, for a total transaction of $76,998.00. Following the completion of the transaction, the director now owns 4,934 shares in the company, valued at approximately $1,158,256.50. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 973 shares of company stock valued at $226,910. 0.65% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Separately, DA Davidson reissued a “buy” rating and set a $313.00 price objective on shares of WD-40 in a research note on Tuesday.

WD-40 Company Profile

WD-40 Company develops and sells maintenance products, and homecare and cleaning products in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company provides multi-purpose maintenance products that include aerosol sprays, non-aerosol trigger sprays, precision pens, and in liquid-bulk form products under the WD-40 Multi-Use brand name; specialty maintenance products, such as penetrants, degreasers, corrosion inhibitors, greases, lubricants, and rust removers under the WD-40 Specialist brand; and bike-specific products.