Hyster-Yale Materials Handling Inc (HY) to Issue Dividend Increase – $0.32 Per Share
Hyster-Yale Materials Handling Inc (NYSE:HY) declared a quarterly dividend on Monday, May 20th, Wall Street Journal reports. Investors of record on Friday, May 31st will be paid a dividend of 0.3175 per share by the industrial products company on Friday, June 14th. This represents a $1.27 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date of this dividend is Thursday, May 30th. This is a boost from Hyster-Yale Materials Handling’s previous quarterly dividend of $0.31.
Hyster-Yale Materials Handling has raised its dividend by an average of 2.9% annually over the last three years and has increased its dividend every year for the last 6 years. Hyster-Yale Materials Handling has a dividend payout ratio of 37.5% meaning its dividend is sufficiently covered by earnings.
NYSE:HY traded down $0.67 during mid-day trading on Monday, reaching $46.52. The stock had a trading volume of 41,449 shares, compared to its average volume of 56,968. The stock has a market capitalization of $778.86 million, a price-to-earnings ratio of 44.10 and a beta of 0.97. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.38 and a quick ratio of 0.69. Hyster-Yale Materials Handling has a 12 month low of $46.09 and a 12 month high of $76.79.
In other Hyster-Yale Materials Handling news, Chairman Alfred M. Et Al Rankin purchased 803 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were bought at an average price of $64.98 per share, for a total transaction of $52,178.94. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Bruce T. Rankin purchased 773 shares of the business’s stock in a transaction dated Friday, March 8th. The shares were acquired at an average price of $64.54 per share, for a total transaction of $49,889.42. Following the acquisition, the insider now owns 722 shares of the company’s stock, valued at approximately $46,597.88. The disclosure for this purchase can be found here. Insiders acquired 39,426 shares of company stock worth $2,520,267 in the last 90 days. Company insiders own 28.60% of the company’s stock.
Separately, TheStreet lowered shares of Hyster-Yale Materials Handling from a “b-” rating to a “c+” rating in a research report on Wednesday, March 20th.
TRADEMARK VIOLATION NOTICE: This piece was originally reported by Watch List News and is the sole property of of Watch List News. If you are accessing this piece on another website, it was copied illegally and reposted in violation of US and international copyright and trademark legislation. The legal version of this piece can be accessed at https://www.watchlistnews.com/hyster-yale-materials-handling-inc-hy-to-issue-dividend-increase-0-32-per-share/3017017.html.
About Hyster-Yale Materials Handling
Hyster-Yale Materials Handling, Inc, through its subsidiaries, designs, engineers, manufactures, sells, and services a line of lift trucks, attachments, and aftermarket parts worldwide. It manufactures components, such as frames, masts, and transmissions; and assembles lift trucks. The company markets its products primarily under the Hyster and Yale brand names to independent Hyster and Yale retail dealerships.
Featured Article: How much can an individual set aside as a catch-up contribution?
Receive News & Ratings for Hyster-Yale Materials Handling Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hyster-Yale Materials Handling and related companies with MarketBeat.com's FREE daily email newsletter.