Lindsay Corporation (NYSE:LNN) Shareholders to Receive $0.38 Quarterly Dividend

Lindsay Corporation (NYSE:LNN) declared a quarterly dividend on Friday, October 23rd. Investors of record on Monday, November 16th will be given a dividend of $0.38 per share by the industrial products company on Monday, November 30th. This represents a $1.52 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Monday, November 16th.

Lindsay has a dividend payout ratio of 23.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Lindsay to earn $6.34 per share next year, which means the company should continue to be able to cover its $1.52 annual dividend with an expected future payout ratio of 24.0%.

Lindsay Stock Performance

NYSE:LNN traded down $6.37 during mid-day trading on Friday, hitting $105.62. The company’s stock had a trading volume of 266,133 shares, compared to its average volume of 159,662. Lindsay has a 1 year low of $97.27 and a 1 year high of $148.00. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.15 and a quick ratio of 2.04. The stock has a market cap of $1.07 billion, a price-to-earnings ratio of 19.85 and a beta of 0.69. The business’s fifty day moving average is $114.77 and its two-hundred day moving average is $113.66.

Lindsay (NYSE:LNN) last posted its earnings results on Thursday, October 22nd. The industrial products company reported $1.10 EPS for the quarter, topping the consensus estimate of $0.98 by $0.12. Lindsay had a return on equity of 10.96% and a net margin of 8.75%. The firm had revenue of $161.57 million for the quarter, compared to analyst estimates of $147.56 million. During the same period last year, the company earned $0.99 earnings per share. Lindsay’s revenue for the quarter was up 5.2% compared to the same quarter last year. Analysts anticipate that Lindsay will post 5.64 EPS for the current fiscal year.

Lindsay Company Profile

Lindsay Corporation is a U.S.-based manufacturer of irrigation and infrastructure products. The company’s irrigation business provides center-pivot and lateral-move irrigation systems, water-management technologies, and related equipment used by agricultural producers to improve the application and conservation of water.

Lindsay’s irrigation portfolio includes Zimmatic irrigation systems and digital tools such as FieldNET, which helps growers monitor and manage irrigation operations remotely.