Cummins Inc. (NYSE:CMI) Plans $2.00 Quarterly Dividend

Cummins Inc. (NYSE:CMI) declared a quarterly dividend on Tuesday, May 12th. Shareholders of record on Friday, May 22nd will be given a dividend of 2.00 per share on Thursday, June 4th. This represents a c) annualized dividend and a yield of 1.1%. The ex-dividend date is Friday, May 22nd.

Cummins has increased its dividend by an average of 0.1%per year over the last three years and has raised its dividend annually for the last 19 consecutive years. Cummins has a payout ratio of 33.4% meaning its dividend is sufficiently covered by earnings. Analysts expect Cummins to earn $32.02 per share next year, which means the company should continue to be able to cover its $8.00 annual dividend with an expected future payout ratio of 25.0%.

Cummins Stock Up 1.1%

NYSE CMI traded up $8.02 on Wednesday, hitting $712.58. The stock had a trading volume of 291,509 shares, compared to its average volume of 913,674. The business’s fifty day moving average price is $593.30 and its 200 day moving average price is $549.49. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.71 and a quick ratio of 1.11. Cummins has a 52-week low of $307.90 and a 52-week high of $718.08. The stock has a market cap of $98.33 billion, a price-to-earnings ratio of 36.98, a price-to-earnings-growth ratio of 1.77 and a beta of 1.27.

Cummins (NYSE:CMI) last released its quarterly earnings results on Tuesday, May 5th. The company reported $6.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.63 by $0.52. Cummins had a net margin of 7.89% and a return on equity of 25.25%. The business had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.37 billion. During the same period in the previous year, the company earned $5.96 earnings per share. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. Equities research analysts anticipate that Cummins will post 28.39 earnings per share for the current year.

About Cummins

Cummins Inc (NYSE: CMI) is a global power technology company that designs, manufactures, distributes and services a broad portfolio of diesel and natural gas engines, electrified powertrains, power generation systems and related components. Founded in 1919 and headquartered in Columbus, Indiana, Cummins has grown into one of the world’s leading suppliers of internal combustion engines and a provider of technologies that reduce emissions and improve fuel efficiency.

The company’s product lineup includes heavy-, medium- and light-duty engines for on-highway and off-highway applications, generator sets and power systems for commercial and industrial use, and key engine components such as turbochargers, fuel systems, air handling, filtration and aftertreatment solutions.