UFP Industries, Inc. (UFPI) to Issue Quarterly Dividend of $0.36 on March 16th

UFP Industries, Inc. (NASDAQ:UFPI) announced a quarterly dividend on Thursday, February 12th. Shareholders of record on Monday, March 2nd will be given a dividend of 0.36 per share by the construction company on Monday, March 16th. This represents a c) dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Monday, March 2nd. This is a 2.9% increase from UFP Industries’s previous quarterly dividend of $0.35.

UFP Industries has increased its dividend payment by an average of 0.3%per year over the last three years and has raised its dividend every year for the last 5 years. UFP Industries has a dividend payout ratio of 21.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect UFP Industries to earn $7.87 per share next year, which means the company should continue to be able to cover its $1.44 annual dividend with an expected future payout ratio of 18.3%.

UFP Industries Trading Down 2.0%

Shares of UFP Industries stock traded down $2.13 during trading hours on Friday, hitting $102.91. The company’s stock had a trading volume of 389,481 shares, compared to its average volume of 359,233. The stock has a market cap of $5.82 billion, a price-to-earnings ratio of 20.62 and a beta of 1.49. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.23 and a current ratio of 4.59. UFP Industries has a twelve month low of $87.11 and a twelve month high of $118.00. The firm has a fifty day moving average of $103.81 and a 200-day moving average of $97.85.

UFP Industries (NASDAQ:UFPI) last issued its quarterly earnings data on Monday, February 23rd. The construction company reported $0.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.03 by ($0.33). UFP Industries had a net margin of 4.66% and a return on equity of 9.27%. The company had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.40 billion. During the same quarter last year, the firm posted $1.12 earnings per share. The firm’s quarterly revenue was down 9.0% on a year-over-year basis. Research analysts forecast that UFP Industries will post 7.08 EPS for the current year.

About UFP Industries

UFP Industries, Inc, founded in 1955 and headquartered in Grand Rapids, Michigan, designs, manufactures, and distributes a broad range of wood and wood-alternative products. The company operates through two primary segments: UFP Retail Solutions, which supplies building materials and components to home improvement retailers and lumber dealers, and UFP Distribution Solutions, which offers packaging, pallets, skids, and other industrial products for a variety of end markets. Its product portfolio includes treated and untreated lumber, engineered wood, decking, railing, fencing, vinyl sheets and profiles, and custom-designed packaging solutions.

With manufacturing facilities and distribution centers across the United States, Canada, Mexico and Europe, UFP Industries serves professional contractors, industrial customers, and do-it-yourself consumers.