RICHMOND - The Brink’s Company (NYSE:BCO), known for its cash management and security services, has announced a regular quarterly dividend of $0.2425 per share. The upcoming dividend is scheduled for payment on September 3, 2024, to shareholders who are on record as of July 29, 2024.
This declaration follows the company's May 1, 2024, announcement of a significant annual increase in its quarterly dividend, marking the second consecutive year of double-digit growth. This move is in line with The Brink’s Company's capital allocation strategy, which aims to deliver value to its shareholders consistently.
The Brink’s Company operates a global network across 52 countries and serves customers in over 100 countries, providing a broad range of services including cash and valuables transportation, ATM managed services, and digital retail solutions. Its clientele spans various sectors, including financial institutions, retailers, government entities, mints, and jewelers.
The company has established itself as a leading player in the industry, leveraging its extensive infrastructure to meet the diverse needs of its customers. The announcement of the dividend is a testament to The Brink’s Company's financial health and its commitment to sharing profits with its investors.
The information regarding the dividend declaration is based on a press release statement issued by The Brink’s Company.
In other recent news, The Brink's Company (NYSE:BCO) reported a solid start to 2024, with Q1 earnings showing a 12% increase in organic revenue. Particularly, the ATM Managed Services and Digital Retail Solutions segments saw an 18% surge in revenue. The company's adjusted EBITDA rose by 15% to reach $218 million, marking the highest first quarter margins in over a decade at 17.7%.
In addition to its earnings report, Brink's announced the pricing of an upsized private offering of senior unsecured notes. The offering includes $400 million in 5-year notes at a 6.500% interest rate and $400 million in 8-year notes at a 6.750% rate. This is an increase from the previously announced $400 million offering, adding the 8-year notes series to the investment opportunity.
The proceeds from the notes offering are intended for redeeming or repurchasing the company’s outstanding 5.500% Senior Notes due 2025, repaying a portion of its $1 billion revolving credit facility, and for general corporate purposes.
Brink's reaffirmed its full-year guidance, expecting low-to-mid teens organic revenue growth, an adjusted EBITDA margin expansion of around 80 basis points, and earnings per share between $7.30 and $8.00. These recent developments indicate continued growth for Brink's Company.
InvestingPro Insights
The Brink’s Company’s (NYSE:BCO) latest dividend declaration not only underscores its commitment to shareholder returns but also reflects the company's solid financial position. With a market capitalization of approximately $4.62 billion,
The Brink’s Company is a significant entity in the security and protection services industry. According to InvestingPro data, the company boasts a robust revenue growth of nearly 6% over the last twelve months as of Q1 2024, indicating a steady upward trajectory in its financial performance.
Investors might take particular interest in The Brink’s Company's dedication to increasing shareholder value, as evidenced by its consistent dividend payments over the years. An InvestingPro Tip highlights that the company has raised its dividend for three consecutive years and has maintained dividend payments for 36 consecutive years, which is a remarkable streak that showcases its reliability and stability as an investment.
Moreover, the company's stock has delivered a high return over the last year, with a year-to-date price total return of 16.27% and a one-year price total return of 56.33%. This performance is complemented by the fact that the company's liquid assets exceed its short-term obligations, as noted in another InvestingPro Tip, providing a cushion for operational and financial flexibility.
For investors looking to delve deeper into The Brink’s Company's financial metrics and gain access to a comprehensive set of InvestingPro Tips, visiting https://www.investing.com/pro/BCO will provide additional insights. There are 15 additional tips listed on InvestingPro that can help investors make more informed decisions. Furthermore, by using the coupon code PRONEWS24, readers can get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription, unlocking even more valuable analysis and data.
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