PHINIA Inc. (NYSE:PHIN) to Issue Dividend Increase – $0.30 Per Share

PHINIA Inc. (NYSE:PHIN) declared a quarterly dividend on Thursday, January 29th. Shareholders of record on Friday, March 6th will be paid a dividend of 0.30 per share on Friday, March 20th. This represents a c) annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Friday, March 6th. This is a 11.1% increase from PHINIA’s previous quarterly dividend of $0.27.

PHINIA has a dividend payout ratio of 23.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect PHINIA to earn $5.20 per share next year, which means the company should continue to be able to cover its $1.08 annual dividend with an expected future payout ratio of 20.8%.

PHINIA Trading Up 1.6%

Shares of NYSE:PHIN traded up $1.13 during mid-day trading on Friday, reaching $71.57. 49,957 shares of the company’s stock were exchanged, compared to its average volume of 339,422. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.25 and a current ratio of 1.72. PHINIA has a twelve month low of $36.25 and a twelve month high of $72.04. The firm has a market capitalization of $2.75 billion, a price-to-earnings ratio of 32.18 and a beta of 1.37. The business’s fifty day moving average price is $62.08 and its 200-day moving average price is $57.08.

PHINIA (NYSE:PHIN) last announced its earnings results on Tuesday, October 28th. The company reported $1.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.42. PHINIA had a return on equity of 11.64% and a net margin of 2.63%.The business had revenue of $908.00 million during the quarter, compared to analyst estimates of $861.57 million. During the same period last year, the company earned $1.17 EPS. PHINIA’s revenue for the quarter was up 8.2% compared to the same quarter last year. On average, research analysts predict that PHINIA will post 4.21 EPS for the current fiscal year.

About PHINIA

PHINIA Inc engages in the development, design, and manufacture of integrated components and systems that optimize performance, increase efficiency, and reduce emissions in combustion and hybrid propulsion for commercial and light vehicles, and industrial applications. The company operates through Fuel Systems and Aftermarket segments. The Fuel Systems segment provides advanced fuel injection systems, including pumps, injectors, fuel rail assemblies, and engine control modules; fuel delivery modules; canisters; sensors; and electronic control modules.