China Yuchai International Limited (NYSE:CYD) Plans Dividend Increase – $0.87 Per Share

China Yuchai International Limited (NYSE:CYD) announced an annual dividend on Thursday, July 2nd. Stockholders of record on Friday, July 17th will be given a dividend of 0.87 per share on Tuesday, July 28th. This represents a dividend yield of 201.0%. The ex-dividend date of this dividend is Friday, July 17th. This is a 64.2% increase from China Yuchai International’s previous annual dividend of $0.53.

China Yuchai International has decreased its dividend by an average of 0.1%annually over the last three years and has increased its dividend every year for the last 1 years. China Yuchai International has a dividend payout ratio of 32.7% meaning its dividend is sufficiently covered by earnings. Analysts expect China Yuchai International to earn $4.18 per share next year, which means the company should continue to be able to cover its $0.53 annual dividend with an expected future payout ratio of 12.7%.

China Yuchai International Stock Down 6.6%

Shares of NYSE:CYD opened at $43.22 on Friday. The firm’s 50-day simple moving average is $49.68 and its 200-day simple moving average is $45.28. China Yuchai International has a fifty-two week low of $21.27 and a fifty-two week high of $61.48.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Zacks Research raised China Yuchai International from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 19th. Weiss Ratings downgraded China Yuchai International from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, May 29th. Finally, Wall Street Zen raised China Yuchai International from a “hold” rating to a “buy” rating in a report on Saturday, June 20th. Two investment analysts have rated the stock with a Strong Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $60.00.

China Yuchai International Company Profile

China Yuchai International Ltd. (NYSE: CYD) is a Cayman Islands–incorporated holding company with principal executive offices in Singapore. Through its subsidiaries, the company is a leading manufacturer and distributor of diesel engines in the People’s Republic of China. Its principal operating subsidiary, Guangxi Yuchai Machinery Company Limited (GYMCL), has been producing diesel engines since 1951 and ranks among the country’s largest heavy-duty engine makers.

The company’s core product portfolio includes high-speed and medium-speed diesel engines for on-highway trucks and buses, off-road vehicles such as construction and agricultural machinery, marine propulsion systems, and power generator sets.