Ituran Location and Control Ltd. (NASDAQ:ITRN) Announces Quarterly Dividend of $0.50

Ituran Location and Control Ltd. (NASDAQ:ITRNGet Free Report) declared a quarterly dividend on Tuesday, May 26th. Investors of record on Wednesday, June 24th will be paid a dividend of 0.50 per share by the industrial products company on Wednesday, July 8th. This represents a c) annualized dividend and a yield of 3.3%. The ex-dividend date is Wednesday, June 24th.

Ituran Location and Control has raised its dividend payment by an average of 0.5%per year over the last three years and has increased its dividend annually for the last 4 consecutive years. Ituran Location and Control has a dividend payout ratio of 184.6% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.

Ituran Location and Control Trading Up 2.1%

ITRN traded up $1.28 on Tuesday, hitting $61.39. 318,378 shares of the company’s stock traded hands, compared to its average volume of 115,286. Ituran Location and Control has a one year low of $32.71 and a one year high of $62.82. The firm has a market cap of $1.22 billion, a price-to-earnings ratio of 21.10 and a beta of 0.73. The company’s 50 day simple moving average is $54.68 and its 200-day simple moving average is $47.56.

Ituran Location and Control (NASDAQ:ITRNGet Free Report) last released its quarterly earnings data on Tuesday, May 26th. The industrial products company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.05. Ituran Location and Control had a net margin of 16.15% and a return on equity of 27.27%. The firm had revenue of $102.67 million for the quarter, compared to analysts’ expectations of $95.32 million.

About Ituran Location and Control

(Get Free Report)

Ituran Location and Control Ltd. is a provider of wireless vehicle tracking and stolen vehicle recovery services. The company leverages a combination of cellular and global positioning system (GPS) technologies to offer real-time monitoring and location-based solutions for private vehicle owners, fleet operators and insurance companies. Its core offerings include subscription-based tracking devices, centralized control centers and software platforms that enable clients to detect unauthorized vehicle use, dispatch recovery teams and manage fleet logistics.

Founded in 1994 in Israel, Ituran pioneered the use of wireless communications for security and telematics applications.

See Also

Dividend History for Ituran Location and Control (NASDAQ:ITRN)

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