Crane (NYSE:CR) Announces Quarterly Dividend of $0.26

Crane (NYSE:CR) declared a quarterly dividend on Tuesday, October 27th. Shareholders of record on Monday, November 30th will be given a dividend of $0.2550 per share by the conglomerate on Wednesday, December 9th. This represents a $1.02 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend is Monday, November 30th.

Crane has a payout ratio of 16.1% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Crane to earn $7.76 per share next year, which means the company should continue to be able to cover its $1.02 annual dividend with an expected future payout ratio of 13.1%.

Crane Price Performance

Shares of NYSE:CR traded up $5.34 during trading on Wednesday, reaching $198.23. 49,482 shares of the company’s stock traded hands, compared to its average volume of 472,449. The company has a 50 day moving average of $203.02 and a 200-day moving average of $198.33. Crane has a 12 month low of $159.58 and a 12 month high of $230.50.

Crane (NYSE:CR) last posted its quarterly earnings results on Tuesday, October 27th. The conglomerate reported $2.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.82 by $0.23. The company had revenue of $756.70 million during the quarter, compared to the consensus estimate of $737.08 million. During the same period in the prior year, the company posted $1.64 EPS. Crane’s quarterly revenue was up 28.1% on a year-over-year basis. On average, sell-side analysts anticipate that Crane will post 6.99 EPS for the current year.

About Crane

Crane Company (NYSE: CR) is a diversified industrial technology company that develops and manufactures highly engineered products for aerospace, industrial, commercial and other specialized markets. The company serves customers worldwide through businesses focused on mission-critical components, systems and services.

Its Aerospace & Electronics segment supplies products such as sensing and control systems, aircraft components, power-management equipment and other electronic solutions for commercial and military aerospace applications.