Lindsay Corporation (LNN) to Issue Quarterly Dividend of $0.38 on August 31st

Lindsay Corporation (NYSE:LNN) announced a quarterly dividend on Monday, July 6th. Stockholders of record on Monday, August 17th will be paid 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 dividend 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%per year over the last three years and has raised 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. Analysts expect Lindsay to earn $6.05 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 24.5%.

Lindsay Price Performance

Shares of LNN opened at $115.18 on Wednesday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.04 and a current ratio of 2.93. Lindsay has a fifty-two week low of $97.27 and a fifty-two week high of $148.00. The firm has a 50-day simple moving average of $113.75 and a 200-day simple moving average of $119.34. The company has a market capitalization of $1.17 billion, a price-to-earnings ratio of 22.11 and a beta of 0.69.

Lindsay (NYSE:LNN) last issued its quarterly earnings results on Thursday, July 2nd. The industrial products company reported $1.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.39. Lindsay had a return on equity of 10.73% and a net margin of 8.79%.The firm had revenue of $160.76 million for the quarter, compared to analysts’ expectations of $157.80 million. During the same quarter in the previous year, the firm posted $1.78 EPS. The firm’s revenue for the quarter was down 5.2% on a year-over-year basis. On average, equities research analysts anticipate that Lindsay will post 5.17 earnings per share for the current year.

About Lindsay

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.