WD-40 Declares Quarterly Dividend of $0.94 (NASDAQ:WDFC)

WD-40 (NASDAQ:WDFC) announced a quarterly dividend on Tuesday, March 18th, RTT News reports. Shareholders of record on Friday, April 18th will be paid a dividend of 0.94 per share by the specialty chemicals company on Wednesday, April 30th. This represents a $3.76 dividend on an annualized basis and a yield of 1.55%.

WD-40 has increased its dividend payment by an average of 6.8% annually over the last three years and has increased its dividend annually for the last 16 consecutive years. WD-40 has a dividend payout ratio of 62.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect WD-40 to earn $6.05 per share next year, which means the company should continue to be able to cover its $3.76 annual dividend with an expected future payout ratio of 62.1%.

WD-40 Price Performance

Shares of NASDAQ:WDFC traded down $0.30 during mid-day trading on Tuesday, reaching $242.10. The stock had a trading volume of 29,775 shares, compared to its average volume of 97,986. The business’s 50 day moving average price is $235.72 and its 200 day moving average price is $253.49. WD-40 has a 1 year low of $211.03 and a 1 year high of $292.36. The company has a market cap of $3.28 billion, a P/E ratio of 46.22 and a beta of -0.10. The company has a current ratio of 2.44, a quick ratio of 1.75 and a debt-to-equity ratio of 0.37.

WD-40 (NASDAQ:WDFC) last posted its quarterly earnings data on Friday, January 10th. The specialty chemicals company reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.29 by $0.10. The company had revenue of $153.30 million for the quarter, compared to analyst estimates of $147.40 million. WD-40 had a net margin of 11.78% and a return on equity of 31.68%. The firm’s revenue for the quarter was up 9.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.28 EPS. Research analysts expect that WD-40 will post 5.42 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, DA Davidson reiterated a “buy” rating and issued a $322.00 target price on shares of WD-40 in a research note on Monday, January 27th.

WD-40 Company Profile

WD-40 Company develops and sells maintenance products, and homecare and cleaning products in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company provides multi-purpose maintenance products that include aerosol sprays, non-aerosol trigger sprays, precision pens, and in liquid-bulk form products under the WD-40 Multi-Use brand name; specialty maintenance products, such as penetrants, degreasers, corrosion inhibitors, greases, lubricants, and rust removers under the WD-40 Specialist brand; and bike-specific products.