Lindsay Corporation to Issue Quarterly Dividend of $0.37 (NYSE:LNN)

Lindsay Corporation (NYSE:LNN) announced a quarterly dividend on Wednesday, April 1st. Investors of record on Friday, May 15th will be given a dividend of 0.37 per share by the industrial products company on Friday, May 29th. This represents a c) annualized dividend and a yield of 1.4%. The ex-dividend date is Friday, May 15th.

Lindsay has increased its dividend by an average of 0.0%annually over the last three years and has increased its dividend annually for the last 22 consecutive years. Lindsay has a dividend payout ratio of 22.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Lindsay to earn $5.93 per share next year, which means the company should continue to be able to cover its $1.48 annual dividend with an expected future payout ratio of 25.0%.

Lindsay Price Performance

LNN traded down $0.44 during trading on Wednesday, reaching $107.63. 56,151 shares of the company traded hands, compared to its average volume of 140,430. The company has a market cap of $1.12 billion, a P/E ratio of 19.77 and a beta of 0.73. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.15 and a current ratio of 3.02. Lindsay has a 12-month low of $97.27 and a 12-month high of $150.96. The firm has a fifty day simple moving average of $115.43 and a 200 day simple moving average of $119.41.

Lindsay (NYSE:LNN) last posted its earnings results on Thursday, April 2nd. The industrial products company reported $1.15 EPS for the quarter, missing analysts’ consensus estimates of $1.60 by ($0.45). Lindsay had a return on equity of 11.28% and a net margin of 9.25%.The firm had revenue of $157.72 million during the quarter, compared to analysts’ expectations of $163.52 million. During the same quarter in the prior year, the firm posted $2.44 earnings per share. Lindsay’s quarterly revenue was down 15.7% on a year-over-year basis. On average, equities analysts forecast that Lindsay will post 5.19 EPS for the current year.

Lindsay Company Profile

Lindsay Corporation (NYSE: LNN) is a U.S.-based manufacturer of agricultural irrigation and infrastructure products. Headquartered in Omaha, Nebraska, the company has built a reputation for designing and producing center pivot and lateral‐move irrigation systems under the Zimmatic brand. These systems feature advanced controls, precision sprinklers and automated monitoring technology that help growers optimize water use, improve crop yields and enhance sustainability in a variety of row-crop, specialty crop and forage operations.

Beyond its core irrigation business, Lindsay operates an infrastructure segment that delivers engineered products and services for water and roadway management.