Argan, Inc. Announces Quarterly Dividend of $0.50 (NYSE:AGX)

Argan, Inc. (NYSE:AGX) declared a quarterly dividend on Wednesday, April 8th. Investors of record on Wednesday, April 22nd will be given a dividend of 0.50 per share by the construction company on Thursday, April 30th. This represents a c) annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Wednesday, April 22nd.

Argan has decreased its dividend payment by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 2 consecutive years. Argan has a dividend payout ratio of 27.4% meaning its dividend is sufficiently covered by earnings.

Argan Trading Up 2.1%

NYSE AGX opened at $589.20 on Thursday. The business’s 50-day moving average price is $450.33 and its 200 day moving average price is $365.89. Argan has a twelve month low of $126.07 and a twelve month high of $615.00. The company has a market capitalization of $8.22 billion, a PE ratio of 60.49 and a beta of 0.46.

Argan (NYSE:AGX) last released its earnings results on Thursday, March 26th. The construction company reported $3.47 earnings per share for the quarter, topping the consensus estimate of $1.99 by $1.48. Argan had a return on equity of 33.62% and a net margin of 14.59%.The firm had revenue of $262.05 million for the quarter, compared to the consensus estimate of $255.32 million. During the same period in the prior year, the business posted $2.22 earnings per share. The firm’s revenue for the quarter was up 12.7% compared to the same quarter last year.

Argan Company Profile

Argan, Inc (NYSE: AGX) is a holding company that provides professional technical and management services to the power generation and renewable energy industries. Through its wholly owned subsidiaries, the company delivers engineering, procurement and construction management (EPCM), commissioning and operations and maintenance (O&M) services for a broad range of energy facilities. Argan focuses on projects for utility, industrial and municipally owned clients, helping to bring efficient thermal and renewable energy plants into operation and maintain optimal performance over the asset life cycle.

The company’s principal subsidiaries include Gemma Power Systems, which specializes in turnkey construction of combined-cycle, simple-cycle, cogeneration and renewable energy plants; Atlantic Projects Company, which provides electrical balance-of-plant, control systems, instrumentation and commissioning services; and Infrastructure Solutions, which offers industrial maintenance, outage support and modification services.