Belden Inc (BDC) Announces $0.05 Quarterly Dividend
Belden Inc (NYSE:BDC) announced a quarterly dividend on Monday, August 21st, RTT News reports. Stockholders of record on Friday, September 15th will be paid a dividend of 0.05 per share by the industrial products company on Wednesday, October 4th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.28%.
Belden has raised its dividend by an average of 10.1% annually over the last three years. Belden has a dividend payout ratio of 3.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Belden to earn $6.02 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 3.3%.
Shares of Belden (NYSE:BDC) traded up 0.49% during mid-day trading on Monday, hitting $71.30. The stock had a trading volume of 214,308 shares. The firm has a market cap of $3.02 billion, a price-to-earnings ratio of 31.00 and a beta of 2.28. Belden has a one year low of $60.06 and a one year high of $81.33. The company has a 50-day moving average of $74.01 and a 200 day moving average of $72.21.
Belden (NYSE:BDC) last issued its earnings results on Wednesday, August 2nd. The industrial products company reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.08. The company had revenue of $610.63 million for the quarter, compared to analyst estimates of $608.16 million. Belden had a return on equity of 16.31% and a net margin of 5.53%. The business’s revenue was up 1.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.54 EPS. On average, equities research analysts forecast that Belden will post $5.44 earnings per share for the current year.
Belden declared that its Board of Directors has approved a share buyback plan on Thursday, May 25th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the industrial products company to buy up to 6.8% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is undervalued.
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A number of research analysts have recently commented on the company. Canaccord Genuity reissued a “buy” rating and set a $83.00 price objective on shares of Belden in a report on Friday, August 4th. Deutsche Bank AG increased their price objective on Belden from $85.00 to $92.00 and gave the company a “buy” rating in a report on Thursday, August 3rd. BidaskClub lowered Belden from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Zacks Investment Research raised Belden from a “hold” rating to a “strong-buy” rating and set a $86.00 price objective on the stock in a report on Tuesday, July 11th. Finally, CL King assumed coverage on Belden in a report on Wednesday, June 21st. They set a “neutral” rating on the stock. One analyst has rated the stock with a sell rating, five have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $84.56.
Belden Company Profile
Belden Inc is a signal transmission solutions provider company. The Company operates through five segment: Broadcast Solutions (Broadcast), Enterprise Connectivity Solutions (Enterprise), Industrial Connectivity Solutions (Industrial Connectivity), Industrial IT Solutions (Industrial IT), and Network Security Solutions (Network Security).
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