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

Griffon Corporation (NYSE:GFF) announced a quarterly dividend on Wednesday, August 5th. Stockholders of record on Monday, August 31st will be paid a dividend of 0.22 per share by the conglomerate on Wednesday, September 16th. This represents a c) annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Monday, August 31st.

Griffon has raised its dividend by an average of 0.2%annually over the last three years and has raised 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. Analysts expect Griffon to earn $5.68 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 15.5%.

Griffon Trading Up 9.7%

Shares of NYSE:GFF traded up $9.10 during midday trading on Wednesday, reaching $102.68. The company had a trading volume of 785,466 shares, compared to its average volume of 352,123. The company has a debt-to-equity ratio of 14.77, a quick ratio of 2.43 and a current ratio of 2.86. Griffon has a 1-year low of $65.01 and a 1-year high of $104.69. The firm has a market cap of $4.71 billion, a price-to-earnings ratio of 789.88 and a beta of 1.44. The company has a fifty day simple moving average of $90.89 and a two-hundred day simple moving average of $85.65.

Griffon (NYSE:GFF) last posted its quarterly earnings data on Wednesday, August 5th. The conglomerate reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.17. The firm had revenue of $481.37 million for the quarter, compared to the consensus estimate of $457.70 million. Griffon had a return on equity of 298.42% and a net margin of 0.31%.The business’s revenue for the quarter was down 21.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.50 EPS. Research analysts predict that Griffon will post 5.17 earnings per share 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.