Franklin Electric Co., Inc. (NASDAQ:FELE) Raises Dividend to $0.28 Per Share

Franklin Electric Co., Inc. (NASDAQ:FELE) declared a quarterly dividend on Monday, January 26th. Shareholders of record on Thursday, February 5th will be given a dividend of 0.28 per share by the industrial products company on Thursday, February 19th. This represents a c) annualized dividend and a yield of 1.1%. The ex-dividend date is Thursday, February 5th. This is a 5.7% increase from Franklin Electric’s previous quarterly dividend of $0.27.

Franklin Electric has increased its dividend by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 33 consecutive years. Franklin Electric has a payout ratio of 22.6% meaning its dividend is sufficiently covered by earnings. Analysts expect Franklin Electric to earn $4.65 per share next year, which means the company should continue to be able to cover its $1.06 annual dividend with an expected future payout ratio of 22.8%.

Franklin Electric Stock Performance

Shares of NASDAQ:FELE traded up $0.05 during trading on Monday, reaching $100.25. 180,986 shares of the stock were exchanged, compared to its average volume of 252,291. Franklin Electric has a 12 month low of $78.87 and a 12 month high of $108.08. The stock has a 50-day moving average price of $96.87 and a 200-day moving average price of $95.71. The company has a current ratio of 2.54, a quick ratio of 1.12 and a debt-to-equity ratio of 0.10. The firm has a market cap of $4.46 billion, a PE ratio of 32.65, a PEG ratio of 1.77 and a beta of 1.08.

Franklin Electric (NASDAQ:FELE) last posted its quarterly earnings data on Tuesday, October 28th. The industrial products company reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.29 by $0.01. Franklin Electric had a return on equity of 14.24% and a net margin of 6.71%.The firm had revenue of $581.71 million for the quarter, compared to analysts’ expectations of $563.18 million. During the same quarter last year, the business earned $1.17 EPS. The company’s quarterly revenue was up 9.5% compared to the same quarter last year. Franklin Electric has set its FY 2025 guidance at 4.000-4.200 EPS. Research analysts expect that Franklin Electric will post 4.19 EPS for the current fiscal year.

Franklin Electric Company Profile

Franklin Electric Co, Inc is a world?leading manufacturer and distributor of systems and components for moving and managing water and fuel. Headquartered in Fort Wayne, Indiana, the company specializes in designing engineered pumping systems and related controls for residential, commercial and industrial applications.

Founded in 1944, Franklin Electric has built its reputation on submersible and surface pumping solutions for water wells, municipal water and wastewater treatment, irrigation and industrial fluid handling.