Toro Co (TTC) Declares Dividend Increase – $0.20 Per Share
Toro Co (NYSE:TTC) declared a quarterly dividend on Thursday, December 7th, RTT News reports. Stockholders of record on Friday, December 22nd will be paid a dividend of 0.20 per share on Wednesday, January 10th. This represents a $0.80 annualized dividend and a dividend yield of 1.25%. This is an increase from Toro’s previous quarterly dividend of $0.18.
Toro has increased its dividend payment by an average of 41.9% per year over the last three years and has increased its dividend annually for the last 7 consecutive years. Toro has a payout ratio of 29.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Toro to earn $2.56 per share next year, which means the company should continue to be able to cover its $0.70 annual dividend with an expected future payout ratio of 27.3%.
Toro (NYSE:TTC) traded down $1.34 during midday trading on Thursday, reaching $64.06. 736,000 shares of the company’s stock were exchanged, compared to its average volume of 588,512. Toro has a 52 week low of $54.09 and a 52 week high of $73.86. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.74 and a quick ratio of 1.10. The firm has a market capitalization of $7,048.04, a PE ratio of 27.59, a P/E/G ratio of 2.56 and a beta of 0.62.
In other news, Director Katherine J. Harless sold 6,000 shares of the stock in a transaction that occurred on Friday, September 29th. The stock was sold at an average price of $61.88, for a total value of $371,280.00. Following the completion of the sale, the director now directly owns 77,672 shares of the company’s stock, valued at $4,806,343.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 56,000 shares of company stock worth $375,780 over the last quarter. 5.69% of the stock is currently owned by insiders.
WARNING: This piece was reported by American Banking News and is the sole property of of American Banking News. If you are accessing this piece on another publication, it was copied illegally and reposted in violation of US & international copyright legislation. The original version of this piece can be read at https://www.americanbankingnews.com/2017/12/07/toro-co-ttc-declares-dividend-increase-0-20-per-share.html.
Toro Company Profile
The Toro Company (Toro) is engaged in the designing, manufacturing, and marketing of professional turf maintenance equipment and services, turf irrigation systems, landscaping equipment and lighting products, snow and ice management products, agricultural micro-irrigation systems, rental and specialty construction equipment, and residential yard and snow thrower products.
Receive News & Ratings for Toro Co Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Toro Co and related companies with MarketBeat.com's FREE daily email newsletter.