Ryder System, Inc. (R) Raises Dividend to $0.52 Per Share

Ryder System, Inc. (NYSE:R) declared a quarterly dividend on Monday, February 12th, RTT News reports. Shareholders of record on Tuesday, February 20th will be paid a dividend of 0.52 per share by the transportation company on Friday, March 16th. This represents a $2.08 dividend on an annualized basis and a yield of 2.58%. This is a boost from Ryder System’s previous quarterly dividend of $0.46.

Ryder System has raised its dividend payment by an average of 8.2% per year over the last three years and has raised its dividend every year for the last 9 years. Ryder System has a payout ratio of 40.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect Ryder System to earn $5.87 per share next year, which means the company should continue to be able to cover its $1.84 annual dividend with an expected future payout ratio of 31.3%.

Ryder System (NYSE R) opened at $80.67 on Monday. The stock has a market capitalization of $4,271.29, a P/E ratio of 19.12, a price-to-earnings-growth ratio of 0.92 and a beta of 1.41. The company has a current ratio of 1.02, a quick ratio of 0.96 and a debt-to-equity ratio of 2.39. Ryder System has a 1 year low of $62.52 and a 1 year high of $90.26.

A number of equities analysts have issued reports on R shares. Zacks Investment Research downgraded Ryder System from a “buy” rating to a “hold” rating in a research report on Monday, October 30th. Buckingham Research increased their price target on Ryder System from $92.00 to $93.00 and gave the stock a “buy” rating in a research report on Wednesday, October 25th. ValuEngine downgraded Ryder System from a “buy” rating to a “hold” rating in a research report on Friday, November 10th. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $86.00 price target on shares of Ryder System in a research report on Thursday, January 18th. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $88.71.

In other Ryder System news, EVP John J. Gleason sold 8,760 shares of the stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $78.30, for a total transaction of $685,908.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Robert D. Fatovic sold 17,755 shares of the stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $82.44, for a total value of $1,463,722.20. The disclosure for this sale can be found here. 1.95% of the stock is owned by corporate insiders.

Ryder System declared that its Board of Directors has initiated a share repurchase program on Thursday, December 14th that allows the company to buyback 1,500,000 outstanding shares. This buyback authorization allows the transportation company to reacquire shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

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Ryder System Company Profile

Ryder System, Inc is engaged in offering transportation and supply chain management solutions. The Company operates through three segments: Fleet Management Solutions (FMS), which provides leasing, commercial rental, contract maintenance, and contract-related maintenance of trucks, tractors and trailers to customers principally in the United States, Canada and the United Kingdom; Dedicated Transportation Solutions (DTS), which provides vehicles and drivers as part of a dedicated transportation solution in the United States, and Supply Chain Solutions (SCS), which provides supply chain solutions, including distribution and transportation services in North America and Asia.

Dividend History for Ryder System (NYSE:R)

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