Lindsay Corporation (NYSE:LNN) Plans Quarterly Dividend of $0.38

Lindsay Corporation (NYSE:LNN) announced a quarterly dividend on Monday, July 6th. Investors of record on Monday, August 17th will be given a dividend of 0.38 per share by the industrial products company on Monday, August 31st. This represents a c) dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Monday, August 17th. This is a 2.7% increase from Lindsay’s previous quarterly dividend of $0.37.

Lindsay has increased its dividend by an average of 0.0%annually over the last three years and has increased its dividend every year for the last 22 years. Lindsay has a payout ratio of 22.5% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Lindsay to earn $5.93 per share next year, which means the company should continue to be able to cover its $1.48 annual dividend with an expected future payout ratio of 25.0%.

Lindsay Price Performance

LNN stock traded down $4.58 during trading on Monday, hitting $117.54. The stock had a trading volume of 323,013 shares, compared to its average volume of 175,718. The stock has a market cap of $1.22 billion, a price-to-earnings ratio of 23.44 and a beta of 0.69. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.04 and a current ratio of 2.93. The company’s 50 day moving average price is $113.48 and its two-hundred day moving average price is $119.42. Lindsay has a 1-year low of $97.27 and a 1-year high of $148.76.

Lindsay (NYSE:LNN) last issued its quarterly earnings results on Thursday, July 2nd. The industrial products company reported $1.53 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.39. The business had revenue of $160.76 million during the quarter, compared to the consensus estimate of $157.80 million. Lindsay had a net margin of 8.79% and a return on equity of 10.73%. The company’s quarterly revenue was down 5.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.78 earnings per share. On average, sell-side analysts forecast that Lindsay will post 5.19 EPS for the current fiscal year.

Lindsay Company Profile

Lindsay Corporation (NYSE: LNN) is a U.S.-based manufacturer of agricultural irrigation and infrastructure products. Headquartered in Omaha, Nebraska, the company has built a reputation for designing and producing center pivot and lateral‐move irrigation systems under the Zimmatic brand. These systems feature advanced controls, precision sprinklers and automated monitoring technology that help growers optimize water use, improve crop yields and enhance sustainability in a variety of row-crop, specialty crop and forage operations.

Beyond its core irrigation business, Lindsay operates an infrastructure segment that delivers engineered products and services for water and roadway management.