MAUMEE, Ohio - The Andersons , Inc. (NASDAQ:ANDE), an agriculture-rooted diversified company, announced today that it will pay a third quarter 2024 cash dividend of 19 cents per share. Eligible shareholders must be on record as of July 1, 2024, and the dividend is scheduled for payment on July 22, 2024.
This dividend marks the company's 111th consecutive quarterly cash dividend since it went public in February 1996. The Andersons, Inc. has a history of consistent dividend payments, a reflection of its financial stability and commitment to shareholder returns.
The company has recently been recognized for its success and responsible business practices, being named to Forbes' list of America's Most Successful Small Companies and Newsweek's list of America's Most Responsible Companies in 2024. Additionally, it was listed as one of The Americas' Fastest Growing Companies by the Financial Times.
Operating across various sectors, including commodity merchandising, renewables, and nutrient & industrial, The Andersons prides itself on adhering to a Statement of Principles that emphasizes extraordinary customer service, employee development, community support, and increasing company value.
This announcement is based on a press release statement from The Andersons, Inc. The declaration of the dividend continues the company's long-standing practice of providing shareholder value and reflects its position within the industry. Investors and shareholders are encouraged to note the important dates for record and payment of the upcoming dividend.
In other recent news, The Andersons, Inc. reported solid Q1 results, with a net income of $6 million, or $0.16 per diluted share. The company's Renewables division led the way with higher ethanol margins and record production, while the Nutrient and Industrial segment saw increased volumes and margins.
Despite mixed results in the Trade business due to lower commodity prices and reduced grain market volatility, the company maintains a positive outlook across its segments. The Andersons aims for organic growth and strategic acquisitions to reach a run rate EBITDA target of $475 million by 2025.
In other developments, Pat Bowe, the company's President and CEO, has been elected as the new chairman of the board of directors, succeeding Michael J. Anderson who is retiring. Bowe, who has served as President and CEO since 2015, brings over 40 years of experience and is expected to guide The Andersons through its next phase of growth and success.
These are among the latest happenings at The Andersons, Inc., a company recently recognized on Forbes' list of America's Most Successful Small Companies and Newsweek's list of America's Most Responsible Companies.
InvestingPro Insights
The Andersons, Inc. (NASDAQ:ANDE) has recently announced its upcoming dividend, underscoring a track record of returning value to shareholders. To provide a deeper dive into the company's financial health and future outlook, here are key metrics and insights from InvestingPro.
With a market capitalization of approximately $1.65 billion USD, The Andersons is trading at a P/E ratio of 13.64, which adjusts to 15.14 when considering the last twelve months as of Q1 2024. This valuation suggests a company that is reasonably priced relative to its earnings.
Still, it is important to note that analysts have revised their earnings expectations downwards for the upcoming period, which could impact future valuations. The company's revenue has seen a decline of 21.14% in the last twelve months as of Q1 2024, with a quarterly decrease of 29.97% in Q1 2024, indicating potential challenges in the market environment or operational performance.
Despite these challenges, The Andersons has maintained a dividend for 29 consecutive years, which is a testament to its commitment to shareholder returns. This consistency is complemented by a dividend yield of 1.57% as of the recent data, reflecting a solid income-generating investment for shareholders. Moreover, the company's liquid assets exceed its short-term obligations, indicating a strong liquidity position that supports ongoing operations and dividend payments.
Investors looking for a more in-depth analysis will find additional InvestingPro Tips on the company's financial health and outlook. For instance, The Andersons is noted for operating with a moderate level of debt, which is a positive sign for risk-conscious investors. With analysts predicting the company will remain profitable this year and the fact that it has been profitable over the last twelve months, there's a basis for cautious optimism.
For those interested in exploring these insights further, there are 11 additional InvestingPro Tips available that can help investors make more informed decisions. To access these insights, consider subscribing to InvestingPro, and don't forget to use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.