AZZ Inc. | $AZZ Stock | Shareholders to Get Quarterly Cash Dividend of 17 Cents Per Share

2242
AZZ Inc.

AZZ Inc. (NYSE: AZZ)

 

AZZ’s Board of Directors has announced that shareholders of record will receive a quarterly cash dividend of $0.17 a share. The announcement was made on Friday (April 6) through a press release issued by the company.

Shareholders of record will receive the dividend on May 9 when the current quarter comes to a close on April 25. At the time of writing this article, shares of the company had gained $0.80, or 1.84% in premarket trade to exchange hands at $44.25.

AZZ Earnings & Outlook

AZZ Inc.

AZZ is likely to report its earnings on April 19 based on the firm’s historical reporting dates. An analyst at Zacks Investment Research forecasts earnings per share of 39 cents for the quarter. The company reported earnings per share of 44 cents in the same period in last year.

The company’s debt levels have gone down from $325.5M to $271.3M in the last twelve months, which is comprised of long term and current debt. The debt reduction means that AZZ’s short-term and cash investments are currently at $11.4M for investing into the business.

AZZ’s Comments

Friday’s press release read: “While the company currently plans to pay out regular quarterly cash dividends in the near future, all future dividends in the amount of 17 cents per share of common stock, will be declared by the Board at its discretion and reviewed individually. The Board is committed to enhancing the value of shareholders based upon its consideration of factors, such as the company’s operating results, business outlook and financial condition at the applicable time.”

AZZ Inc. Company Profile

AZZ Inc. is a provider of specialty electrical equipment, metal coating services, highly engineered services, and welding solutions to power distribution, transmission, generation and industrial markets in protecting electrical and metal systems that are used to create and support global infrastructure. The company operates through two segments: Galvanizing and Energy segments.

AZZ Galvanizing engages in the provision of services and products designed to support electrical, industrial and nuclear applications. The products offered by this segment include electrical enclosures, custom switchgear, nuclear safety-related equipment, high and medium voltage bus ducts, tubular products, hazardous duty and explosion proof lighting. The segment also focuses on extending the life cycle of power refining and generation infrastructure, via automated overlay solutions for mitigating erosion and corrosion.

AZZ Energy delivers reliable power transmission to end users from generation sources. The segment also offers automated overlay solutions for mitigating erosion and corrosion in critical energy infrastructure globally.

The company has more than 40 galvanizing plants located in Ohio, Texas, Alabama, West Virginia, Arkansas, Arizona, Illinois, Colorado, Nebraska, Indiana, Louisiana, Tennessee, Kentucky, Minnesota, Oklahoma, Mississippi, Missouri, Virginia, and Nevada in the US, and Nova Scotia, Ontario and Quebec, Canada. –MarketWatch

IMAGE CREDIT

NO COMMENTS