Ituran Location and Control Ltd. (NASDAQ:ITRN) Declares Quarterly Dividend of $1.50

Ituran Location and Control Ltd. (NASDAQ:ITRN) declared a quarterly dividend on Thursday, March 5th. Investors of record on Monday, March 30th will be paid a dividend of 1.50 per share by the industrial products company on Thursday, April 16th. This represents a c) annualized dividend and a yield of 12.1%. The ex-dividend date is Monday, March 30th. This is a 200.0% increase from Ituran Location and Control’s previous quarterly dividend of $0.50.

Ituran Location and Control has raised its dividend by an average of 0.1%per year over the last three years and has raised its dividend annually for the last 4 consecutive years. Ituran Location and Control has a payout ratio of 61.5% indicating that its dividend is sufficiently covered by earnings.

Ituran Location and Control Stock Performance

Ituran Location and Control stock traded down $0.68 during mid-day trading on Friday, reaching $49.79. The company’s stock had a trading volume of 77,512 shares, compared to its average volume of 100,468. Ituran Location and Control has a twelve month low of $30.06 and a twelve month high of $51.34. The business has a 50 day moving average price of $45.53 and a 200-day moving average price of $40.49.

Ituran Location and Control (NASDAQ:ITRN) last posted its quarterly earnings results on Thursday, March 5th. The industrial products company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.76 by $0.01. The business had revenue of $93.50 million during the quarter, compared to analyst estimates of $93.30 million. Ituran Location and Control had a net margin of 16.23% and a return on equity of 27.68%.

Ituran Location and Control Company Profile

Ituran Location and Control Ltd. is a provider of wireless vehicle tracking and stolen vehicle recovery services. The company leverages a combination of cellular and global positioning system (GPS) technologies to offer real-time monitoring and location-based solutions for private vehicle owners, fleet operators and insurance companies. Its core offerings include subscription-based tracking devices, centralized control centers and software platforms that enable clients to detect unauthorized vehicle use, dispatch recovery teams and manage fleet logistics.

Founded in 1994 in Israel, Ituran pioneered the use of wireless communications for security and telematics applications.