Lindsay Corporation (LNN) to Distribute Quarterly Dividend of $0.38 on August 31st

Lindsay Corporation (NYSE:LNN) declared a quarterly dividend on Monday, July 6th. Shareholders of record on Monday, August 17th will be paid a dividend of 0.38 per share by the industrial products company on Monday, August 31st. This represents a c) dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Monday, August 17th. This is a 2.7% increase from Lindsay’s previous quarterly dividend of $0.37.

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 23.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect Lindsay to earn $5.64 per share next year, which means the company should continue to be able to cover its $1.52 annual dividend with an expected future payout ratio of 27.0%.

Lindsay Stock Performance

LNN stock opened at $115.44 on Friday. The firm has a market cap of $1.17 billion, a price-to-earnings ratio of 22.16 and a beta of 0.70. The firm has a 50-day simple moving average of $116.09 and a two-hundred day simple moving average of $117.84. Lindsay has a one year low of $97.27 and a one year high of $148.00. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.04 and a current ratio of 2.93.

Lindsay (NYSE:LNN) last released its quarterly earnings results on Thursday, July 2nd. The industrial products company reported $1.53 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.39. The business had revenue of $160.76 million for the quarter, compared to analysts’ expectations of $157.80 million. Lindsay had a net margin of 8.79% and a return on equity of 10.73%. The company’s revenue was down 5.2% compared to the same quarter last year. During the same period last year, the business earned $1.78 EPS. On average, equities analysts forecast that Lindsay will post 5.19 EPS for the current fiscal 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.