Worthington Industries, Inc. Plans Quarterly Dividend of $0.24 (NYSE:WOR)

Worthington Industries, Inc. (NYSE:WOR) declared a quarterly dividend on Thursday, March 26th, Wall Street Journal reports. Shareholders of record on Monday, June 15th will be paid a dividend of 0.24 per share by the industrial products company on Monday, June 29th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.75%. The ex-dividend date of this dividend is Friday, June 12th.

Worthington Industries has increased its dividend by an average of 5.4% per year over the last three years and has increased its dividend every year for the last 9 years. Worthington Industries has a dividend payout ratio of 34.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect Worthington Industries to earn $3.15 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 30.5%.

Shares of NYSE:WOR traded up $2.92 on Thursday, reaching $25.57. The company’s stock had a trading volume of 334,221 shares, compared to its average volume of 219,087. Worthington Industries has a 52-week low of $19.28 and a 52-week high of $44.69. The company has a market cap of $1.29 billion, a P/E ratio of 13.05 and a beta of 1.35. The company has a 50-day simple moving average of $31.67 and a 200 day simple moving average of $36.70. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.33 and a current ratio of 2.13.

A number of brokerages have commented on WOR. Zacks Investment Research raised shares of Worthington Industries from a “hold” rating to a “buy” rating and set a $45.00 price objective for the company in a research note on Friday, December 20th. TheStreet raised shares of Worthington Industries from a “c” rating to a “b-” rating in a research note on Tuesday, December 17th.

Worthington Industries Company Profile

Worthington Industries, Inc, a metals manufacturing company, focuses on value-added steel processing and manufactured metal products in the United States, Austria, Canada, Mexico, Poland, Portugal, and Turkey. The company operates through three segments: Steel Processing, Pressure Cylinders, and Engineered Cabs.

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Dividend History for Worthington Industries (NYSE:WOR)

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