WD-40 Company Plans Quarterly Dividend of $1.02 (NASDAQ:WDFC)

WD-40 Company (NASDAQ:WDFC) declared a quarterly dividend on Monday, June 15th. Investors of record on Friday, July 17th will be paid a dividend of 1.02 per share by the specialty chemicals company on Friday, July 31st. This represents a c) annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Friday, July 17th.

WD-40 has increased its dividend payment by an average of 0.1%annually over the last three years and has increased its dividend every year for the last 17 years. WD-40 has a dividend payout ratio of 68.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect WD-40 to earn $6.36 per share next year, which means the company should continue to be able to cover its $4.08 annual dividend with an expected future payout ratio of 64.2%.

WD-40 Price Performance

Shares of NASDAQ:WDFC opened at $226.34 on Tuesday. The company has a 50 day moving average of $210.08 and a 200 day moving average of $213.74. The stock has a market cap of $3.04 billion, a P/E ratio of 38.49 and a beta of 0.31. WD-40 has a 12 month low of $175.38 and a 12 month high of $253.24. The company has a current ratio of 2.83, a quick ratio of 1.98 and a debt-to-equity ratio of 0.32.

WD-40 (NASDAQ:WDFC) last issued its quarterly earnings data on Thursday, April 9th. The specialty chemicals company reported $1.50 EPS for the quarter, beating the consensus estimate of $1.39 by $0.11. The company had revenue of $161.67 million during the quarter, compared to analysts’ expectations of $154.90 million. WD-40 had a net margin of 12.57% and a return on equity of 30.23%. WD-40’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.32 earnings per share. As a group, sell-side analysts forecast that WD-40 will post 5.99 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on WDFC. William Blair began coverage on shares of WD-40 in a research note on Monday, April 6th. They set an “outperform” rating for the company. DA Davidson reduced their price objective on shares of WD-40 from $300.00 to $270.00 and set a “buy” rating for the company in a research note on Friday, April 10th. Finally, Weiss Ratings cut shares of WD-40 from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, May 26th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, WD-40 currently has a consensus rating of “Moderate Buy” and a consensus target price of $270.00.

WD-40 Company Profile

WD-40 Company, headquartered in San Diego, California, is best known for its flagship WD-40® Multi-Use Product, a water-displacing spray used for lubrication, rust prevention and cleaning. Since its introduction in 1953 by the Rocket Chemical Company, the WD-40 brand has become a household and industrial staple. Over time, the company has broadened its portfolio to include complementary maintenance and cleaning brands such as 3-IN-ONE® oils, Lava® hand cleaners, Solvol® solvents, Spot Shot® stain removers and X-14® cleaning products.

WD-40 Company distributes its products in more than 176 countries through retail, industrial and automotive channels.