WEST ORANGE, N.J. - Bel Fuse Inc. (NASDAQ:BELFA) (NASDAQ:BELFB), a provider of electronic circuit components, has declared quarterly cash dividends for its Class A and Class B common shares. The announcement, made today, specifies dividends of $0.06 per share for Class A and $0.07 per share for Class B, to be paid on August 1, 2024.
Shareholders on record as of July 15, 2024, will be eligible for the dividend payout. The company reported that there are approximately 12.62 million common shares outstanding, with around 2.12 million classified as Class A and 10.49 million as Class B.
Bel Fuse's product offerings include a range of components used in networking, telecommunications, computing, and data transmission, as well as military, aerospace, and transportation applications. The company also serves industries such as automotive, medical, and consumer electronics. Its portfolio encompasses Magnetic Solutions, Power Solutions and Protection, and Connectivity Solutions, with operations spanning globally.
This dividend declaration reflects the company's ongoing commitment to providing value to its shareholders and is based on a press release statement from Bel Fuse Inc.
InvestingPro Insights
Bel Fuse Inc. (NASDAQ:BELFA) has recently announced its latest dividend declaration, underscoring its commitment to shareholder returns. To provide a deeper understanding of the company's financial health and market performance, here are some key metrics and insights from InvestingPro:
InvestingPro Data:
- The company's market capitalization stands at a robust $778.13M.
- It boasts a favorable P/E ratio of 10.08, suggesting that the stock may be reasonably valued against its earnings.
- Bel Fuse has achieved a high return over the last year with a 1 Year Price Total Return of 65.08%.
InvestingPro Tips:
- Bel Fuse holds more cash than debt on its balance sheet, indicating a strong financial position that could support consistent dividend payments.
- The company has maintained dividend payments for 22 consecutive years, showcasing a reliable track record of returning value to its shareholders.
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