Argan, Inc. (NYSE:AGX) Declares Quarterly Dividend of $0.50

Argan, Inc. (NYSE:AGX) announced a quarterly dividend on Wednesday, June 10th. Stockholders of record on Thursday, July 23rd will be paid a dividend of 0.50 per share by the construction company on Friday, July 31st. This represents a c) annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Thursday, July 23rd.

Argan has decreased its dividend payment by an average of 0.1%per year over the last three years and has raised its dividend annually for the last 2 consecutive years. Argan has a dividend payout ratio of 27.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Argan to earn $16.66 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 12.0%.

Argan Price Performance

Shares of Argan stock opened at $586.94 on Thursday. Argan has a 1 year low of $193.82 and a 1 year high of $779.00. The firm has a market cap of $8.23 billion, a PE ratio of 51.58 and a beta of 0.58. The stock has a fifty day moving average price of $642.83 and a 200-day moving average price of $474.43.

Argan (NYSE:AGX) last announced its earnings results on Thursday, June 4th. The construction company reported $3.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.31 by $0.93. Argan had a return on equity of 36.89% and a net margin of 15.48%.The firm had revenue of $290.95 million during the quarter, compared to analyst estimates of $256.03 million. During the same period last year, the firm posted $1.60 EPS. The business’s revenue was up 50.2% compared to the same quarter last year. As a group, equities analysts anticipate that Argan will post 12.6 EPS for the current fiscal year.

Argan Company Profile

Argan, Inc (NYSE: AGX) is a holding company that provides professional technical and management services to the power generation and renewable energy industries. Through its wholly owned subsidiaries, the company delivers engineering, procurement and construction management (EPCM), commissioning and operations and maintenance (O&M) services for a broad range of energy facilities. Argan focuses on projects for utility, industrial and municipally owned clients, helping to bring efficient thermal and renewable energy plants into operation and maintain optimal performance over the asset life cycle.

The company’s principal subsidiaries include Gemma Power Systems, which specializes in turnkey construction of combined-cycle, simple-cycle, cogeneration and renewable energy plants; Atlantic Projects Company, which provides electrical balance-of-plant, control systems, instrumentation and commissioning services; and Infrastructure Solutions, which offers industrial maintenance, outage support and modification services.