Oil-Dri Co. of America (ODC) Declares Quarterly Dividend of $0.23
Oil-Dri Co. of America (NYSE:ODC) announced a quarterly dividend on Thursday, March 22nd, Wall Street Journal reports. Stockholders of record on Friday, May 18th will be paid a dividend of 0.23 per share by the specialty chemicals company on Friday, June 1st. This represents a $0.92 annualized dividend and a dividend yield of 2.42%. The ex-dividend date is Thursday, May 17th.
Oil-Dri Co. of America has increased its dividend by an average of 4.9% annually over the last three years and has raised its dividend annually for the last 15 consecutive years.
Shares of Oil-Dri Co. of America (NYSE:ODC) opened at $38.08 on Friday. Oil-Dri Co. of America has a 12-month low of $33.61 and a 12-month high of $50.82. The stock has a market capitalization of $279.84, a price-to-earnings ratio of 24.35 and a beta of 1.06. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.82.
Oil-Dri Co. of America announced that its Board of Directors has authorized a stock repurchase program on Wednesday, March 21st that permits the company to repurchase 300,000 shares. This repurchase authorization permits the specialty chemicals company to reacquire shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its stock is undervalued.
In other news, Director Allan H. Selig acquired 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 14th. The stock was bought at an average price of $37.10 per share, with a total value of $37,100.00. Following the acquisition, the director now owns 33,000 shares in the company, valued at approximately $1,224,300. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 13.86% of the company’s stock.
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About Oil-Dri Co. of America
Oil-Dri Corporation of America is engaged in developing, manufacturing and/or marketing sorbent products. The Company operates through two segments: Retail and Wholesale Products Group, and Business to Business Products Group. The Retail and Wholesale Products Group’s customers include mass merchandisers, wholesale clubs, drugstore chains, dollar stores, distributors of industrial cleanup and automotive products, environmental service companies and sports field product users.
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