Cummins Inc. (NYSE:CMI) Shareholders Set to Receive $2.20 Quarterly Dividend

Cummins Inc. (NYSE:CMI) declared a quarterly dividend on Tuesday, October 13th. Investors of record on Friday, November 20th will be paid a dividend of $2.20 per share on Thursday, December 3rd. This represents a $8.80 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Friday, November 20th.

Cummins has increased 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 19 consecutive years. Cummins has a dividend payout ratio of 36.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Cummins to earn $35.05 per share next year, which means the company should continue to be able to cover its $8.80 annual dividend with an expected future payout ratio of 25.1%.

Cummins Stock Performance

NYSE CMI opened at $529.57 on Wednesday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.73 and a quick ratio of 1.13. The stock’s 50 day simple moving average is $562.88 and its 200-day simple moving average is $620.45. The company has a market cap of $72.90 billion, a PE ratio of 27.06, a price-to-earnings-growth ratio of 1.39 and a beta of 1.24. Cummins has a 1-year low of $400.72 and a 1-year high of $737.76.

Cummins (NYSE:CMI) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $6.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.21 by ($0.48). Cummins had a net margin of 7.82% and a return on equity of 25.29%. The business had revenue of $9.46 billion for the quarter, compared to analysts’ expectations of $9.33 billion. During the same period in the prior year, the company posted $6.43 EPS. The firm’s revenue was up 9.4% on a year-over-year basis. As a group, equities research analysts anticipate that Cummins will post 30.10 EPS for the current fiscal year.

About Cummins

Cummins Inc (NYSE: CMI) is a global power technology company headquartered in Columbus, Indiana. Founded in 1919, the company designs, manufactures, sells and services power solutions for commercial, industrial and infrastructure applications.

Its products include diesel and natural-gas engines, electrified powertrains, batteries, fuel cell systems, generators and other power-generation equipment. Cummins also produces components such as filtration systems, fuel systems, turbochargers and emission-control technologies.