WD-40 Announces Quarterly Dividend of $0.88 (NASDAQ:WDFC)

WD-40 (NASDAQ:WDFC) announced a quarterly dividend on Friday, October 4th, RTT News reports. Stockholders of record on Friday, October 18th will be paid a dividend of 0.88 per share by the specialty chemicals company on Thursday, October 31st. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date of this dividend is Friday, October 18th.

WD-40 has increased its dividend by an average of 7.4% annually over the last three years and has increased its dividend annually for the last 16 consecutive years. WD-40 has a dividend payout ratio of 61.9% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect WD-40 to earn $5.68 per share next year, which means the company should continue to be able to cover its $3.52 annual dividend with an expected future payout ratio of 62.0%.

WD-40 Stock Up 0.7 %

Shares of WDFC opened at $260.85 on Wednesday. WD-40 has a 52 week low of $194.09 and a 52 week high of $278.78. The company has a quick ratio of 1.56, a current ratio of 2.27 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $3.53 billion, a price-to-earnings ratio of 51.25 and a beta of -0.08. The stock’s 50-day moving average price is $256.01 and its 200-day moving average price is $242.12.

Wall Street Analyst Weigh In

Separately, DA Davidson lowered their price target on WD-40 from $313.00 to $303.00 and set a “buy” rating on the stock in a research report on Thursday, July 11th.

WD-40 Company Profile

WD-40 Company develops and sells maintenance products, and homecare and cleaning products in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company provides multi-purpose maintenance products that include aerosol sprays, non-aerosol trigger sprays, precision pens, and in liquid-bulk form products under the WD-40 Multi-Use brand name; specialty maintenance products, such as penetrants, degreasers, corrosion inhibitors, greases, lubricants, and rust removers under the WD-40 Specialist brand; and bike-specific products.