RB Global, Inc. (NYSE:RBA) to Issue Dividend Increase – $0.33 Per Share

RB Global, Inc. (NYSE:RBA) (TSE:RBA) announced a quarterly dividend on Tuesday, July 21st. Shareholders of record on Tuesday, August 25th will be paid a dividend of 0.33 per share by the business services provider on Thursday, September 17th. This represents a c) dividend on an annualized basis and a yield of 1.5%. The ex-dividend date is Tuesday, August 25th. This is a 6.5% increase from RB Global’s previous quarterly dividend of $0.31.

RB Global has raised its dividend payment by an average of 0.1%per year over the last three years and has increased its dividend annually for the last 20 consecutive years. RB Global has a payout ratio of 32.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect RB Global to earn $4.76 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 27.7%.

RB Global Price Performance

Shares of RBA stock opened at $86.97 on Friday. RB Global has a twelve month low of $82.03 and a twelve month high of $119.58. The company has a current ratio of 1.31, a quick ratio of 1.22 and a debt-to-equity ratio of 0.51. The stock has a fifty day simple moving average of $105.76 and a two-hundred day simple moving average of $104.24. The stock has a market capitalization of $16.10 billion, a price-to-earnings ratio of 37.33, a P/E/G ratio of 1.49 and a beta of 0.56.

RB Global (NYSE:RBA) (TSE:RBA) last announced its quarterly earnings results on Tuesday, August 4th. The business services provider reported $1.13 EPS for the quarter, beating the consensus estimate of $1.09 by $0.04. RB Global had a return on equity of 12.37% and a net margin of 9.99%.The firm had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.21 billion. On average, analysts predict that RB Global will post 4.06 EPS for the current fiscal year.

About RB Global

RB Global, Inc, an omnichannel marketplace, provides insights, services, and transaction solutions for buyers and sellers of commercial assets and vehicles worldwide. Its marketplace brands include Ritchie Bros., an auctioneer of commercial assets and vehicles offering online bidding; IAA, a digital marketplace connecting vehicle buyers and sellers; Rouse Services, which provides asset management, data-driven intelligence, and performance benchmarking system; SmartEquip, a technology platform that supports customers' management of the equipment lifecycle; and Veritread, an online marketplace for heavy haul transport solution.