Griffon Corporation (NYSE:GFF) Announces Quarterly Dividend of $0.22

Griffon Corporation (NYSE:GFF) declared a quarterly dividend on Thursday, May 7th. Stockholders of record on Friday, May 29th will be paid a dividend of 0.22 per share by the conglomerate on Wednesday, June 17th. This represents a c) annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Friday, May 29th.

Griffon has increased its dividend payment by an average of 0.2%per year over the last three years and has increased its dividend annually for the last 1 consecutive years. Griffon has a payout ratio of 13.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Griffon to earn $5.58 per share next year, which means the company should continue to be able to cover its $0.88 annual dividend with an expected future payout ratio of 15.8%.

Griffon Price Performance

Shares of GFF opened at $90.68 on Friday. The company’s 50-day moving average is $79.88 and its 200-day moving average is $79.09. The company has a debt-to-equity ratio of 12.36, a current ratio of 2.55 and a quick ratio of 1.27. The firm has a market capitalization of $4.22 billion, a PE ratio of 98.57, a PEG ratio of 1.55 and a beta of 1.46. Griffon has a fifty-two week low of $65.01 and a fifty-two week high of $97.58.

Griffon (NYSE:GFF) last announced its quarterly earnings results on Thursday, May 7th. The conglomerate reported $1.05 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.06. The business had revenue of $421.86 million for the quarter, compared to analyst estimates of $414.63 million. Griffon had a net margin of 1.76% and a return on equity of 228.83%. Griffon’s quarterly revenue was down 31.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.23 EPS. Equities analysts forecast that Griffon will post 5.16 EPS for the current year.

About Griffon

Griffon Corporation (NYSE:GFF) is a diversified management and holding company whose subsidiaries design, manufacture and market products for residential, commercial and defense applications. Operating through three primary platforms—Home & Building Products, Defense Electronics and Specialty Industrial—Griffon’s portfolio spans consumer and industrial brands with a focus on long-lived products and recurring aftermarket opportunities.

In the Home & Building Products segment, Griffon’s Clopay Building Products division is a leading North American manufacturer of residential and commercial garage doors, specializing in steel, fiberglass and composite designs as well as decorative carriage-house styles.