Powell Industries, Inc. (NASDAQ:POWL) declared a quarterly dividend on Wednesday, August 8th, Wall Street Journal reports. Investors of record on Wednesday, August 22nd will be paid a dividend of 0.26 per share by the industrial products company on Wednesday, September 19th. This represents a $1.04 annualized dividend and a dividend yield of 2.59%. The ex-dividend date of this dividend is Tuesday, August 21st.
Powell Industries has raised its dividend payment by an average of 1.0% per year over the last three years.
Shares of NASDAQ POWL traded up $2.24 during mid-day trading on Wednesday, hitting $40.08. The stock had a trading volume of 128,906 shares, compared to its average volume of 47,359. Powell Industries has a 1 year low of $22.80 and a 1 year high of $41.42.
Powell Industries (NASDAQ:POWL) last issued its earnings results on Tuesday, August 7th. The industrial products company reported $0.03 EPS for the quarter, topping the consensus estimate of ($0.16) by $0.19. Powell Industries had a negative net margin of 4.66% and a negative return on equity of 5.38%. The company had revenue of $122.13 million for the quarter.
Separately, BidaskClub raised shares of Powell Industries from a “hold” rating to a “buy” rating in a research note on Thursday, August 2nd.
Powell Industries Company Profile
Powell Industries, Inc, together with its subsidiaries, designs, develops, manufactures, sells, and services custom-engineered equipment and systems for the distribution, control, and monitoring of electrical energy. The company's principal products include integrated power control room substations, custom-engineered modules, electrical houses, medium-voltage circuit breakers, monitoring and control communications systems, motor control centers, and bus duct systems, as well as traditional and arc-resistant distribution switchgears and control gears.
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