Dividend Coverage: This Circuit Protection Manufacturer raised its Dividend by 12%; Will Trade Ex-Dividend on August 21, 2017
LONDON, UK / ACCESSWIRE / August 21, 2017 /Pro-Trader Daily takes a closer look at Littelfuse, Inc. (NASDAQ: LFUS) as the Company's stock will begin trading ex-dividend on August 22, 2017. In order to capture the dividend payout, investors must purchase the stock a day prior to the ex-dividend date that is by latest at the end of the trading session on August 21, 2017. Are you looking for research on dividend stocks, if so register with us now for your free membership at:
Today, PRO-TD covers ex-dividend news on LFUS. Get our free coverage by signing up at:
On August 02, 2017, Littelfuse' Board of Directors approved a 12% increase in the quarterly cash dividend from $0.33 to $0.37, which equates to an annualized dividend of $1.48 per share. The dividend will be paid on September 07, 2017, to shareholders of record as of August 24, 2017.
Littelfuse' indicated dividend represents a yield of 0.83%, which is below the average dividend yield of 1.32%for the Industrial Goods sector. The Company has raised its dividend for seven consecutive years.
Littelfuse has a dividend payout ratio of 19.3% which indicates that the Company distributes approximately $0.19 for every $1.00 earned. The dividend payout ratio reflects how much money a company is returning to shareholders versus how much money it is keeping on hand to reinvest in growth, to pay off debt, and/or to add to its cash reserves.
According to analysts' estimates, Littelfuse is forecasted to report earnings of $8.41 for the next year which is substantially above the Company's annualized dividend of $1.48.
For Q2 2017, Littelfuse' cash provided by operating activities was $93.57 million compared to $35.28 million in Q2 2016. As of July 01, 2017, the Company's cash and cash equivalents totaled $321.89 million, while its current assets came in at $794.85 million versus current liabilities of $202.19 million. The strong financial position indicates the Company's ability to absorb any fluctuations in earnings and cash flow and to sustain the dividend distribution for a long period.
Recent Development for Littelfuse
On August 14, 2017, Littelfuse announced the appointment of Jeffrey Gorski as Vice President and Chief Accounting Officer. In his role, Mr. Gorski will be responsible for worldwide corporate and technical accounting, SEC reporting and shared services, and will report directly to the Company's Executive Vice President and Chief Financial Officer, Meenal Sethna. Mr. Gorski will succeed John Quille who is retiring and will remain in an advisory role during the transition.
Most recently, Mr. Gorski served as Senior Vice President and Chief Accounting Officer of R.R. Donnelley & Sons Co., where he held several roles of increasing responsibility. Prior to joining R.R. Donnelley, he was a senior manager at KPMG LLP. Mr. Gorski received a Bachelor of Arts in Accounting and Finance at the University of Wisconsin, Madison in Wisconsin, USA, and is a certified public accountant in Illinois.
Founded in 1927, Littelfuse is the world leader in circuit protection with growing global platforms in power control and sensing. The company serves customers in the electronics, automotive and industrial markets with technologies including fuses, semiconductors, polymers, ceramics, relays, and sensors. Littelfuse has over 10,000 employees in more than 40 locations throughout the Americas, Europe, and Asia.
Littelfuse's share price finished last Friday's trading session at $176.39, marginally down 0.84%. A total volume of 107.38 thousand shares have exchanged hands. The Company's stock price soared 11.41% in the last three months, 7.94% in the past six months, and 43.79% in the previous twelve months. Additionally, the stock surged 16.22% since the start of the year. Shares of the Company have a PE ratio of 27.78 and have a dividend yield of 0.75%. The stock currently has a market cap of $4.04 billion.
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