JACKSONVILLE, Fla. - Cadre Holdings, Inc. (NYSE: CDRE), known for manufacturing and distributing safety equipment for various high-risk professions, has declared a quarterly cash dividend. The company's Board of Directors announced a dividend of $0.0875 per share, which on an annualized basis amounts to $0.35 per share. Shareholders on record as of August 2, 2024, will receive the dividend on August 16, 2024.
Cadre Holdings, recognized for its contribution to safety in law enforcement, emergency services, and military operations, provides a range of critical safety products. Their portfolio includes body armor, explosive ordnance disposal equipment, and nuclear safety products, among others. Their brands, such as Safariland® and Med-Eng®, are distributed in over 100 countries, supporting federal, state, and local law enforcement, as well as fire and rescue professionals.
The company's press release also included forward-looking statements, which are subject to various risks and uncertainties that could cause actual results to differ materially from those projected. Cadre Holdings has cautioned that these forward-looking statements are not guarantees of future performance and that they are based on current expectations about future events.
The announcement of future dividends remains at the discretion of the Board of Directors, and the company will continue to evaluate its dividend policy based on its operational performance and market conditions.
As a global leader in its field, Cadre Holdings' commitment to dividend payments reflects its financial strategies and dedication to delivering shareholder value. This information is based on a press release statement from Cadre Holdings, Inc.
In other recent news, Cadre Holdings reported a strong first quarter in 2024, achieving record net sales of $137.9 million and significant margin expansions. These results were largely driven by the company's strategic mergers and acquisitions program, which has already seen two successful acquisitions this year.
Moreover, Cadre Holdings expects to continue its M&A strategy, aiming for long-term EBITDA margin expansion. CEO Warren Kanders reaffirmed the 2024 guidance for net sales and adjusted EBITDA, with expected growth rates of 16.6% and 23.5%, respectively.
In addition to financial achievements, Cadre Holdings disclosed a cybersecurity incident, where unauthorized access to certain company technology systems was detected. The company's efforts to contain and remediate the breach are ongoing. The full extent, nature, and consequences of the unauthorized access are not fully known, and the incident could pose legal, reputational, and financial risks.
These are among the recent developments at Cadre Holdings, with the company maintaining a positive outlook for the future, driven by geopolitical uncertainties and the critical nature of defense spending.
InvestingPro Insights
Cadre Holdings, Inc. (NYSE: CDRE) has recently announced a quarterly cash dividend, underscoring its commitment to returning value to shareholders. In light of this development, several metrics and InvestingPro Tips can provide a deeper understanding of the company's financial health and stock performance. With a market capitalization of $1.54 billion and a solid revenue growth of 9.34% in the last twelve months as of Q1 2024, Cadre Holdings appears to be maintaining a positive trajectory in its financial performance.
An interesting aspect to consider is the company's P/E ratio, which currently stands at 38.09. While this may suggest a higher valuation, the adjusted P/E ratio for the last twelve months as of Q1 2024 is slightly lower at 34.65, indicating a potential normalization in earnings valuation. Moreover, the PEG ratio of 0.66 for the same period implies that the stock may be reasonably priced relative to its earnings growth rate. These figures are complemented by a notable year-to-date price total return of 15.98%, showcasing the stock's strong performance so far this year.
InvestingPro Tips highlight that Cadre Holdings is trading at a high EBITDA valuation multiple and has a high Price / Book ratio of 5.77 as of Q1 2024, which may interest investors looking for companies with solid profitability and asset valuation. Analysts on InvestingPro have predicted that the company will be profitable this year, a sentiment supported by the fact that Cadre Holdings has been profitable over the last twelve months.
For investors seeking a more comprehensive analysis, InvestingPro offers additional insights. There are currently 12 more InvestingPro Tips available for Cadre Holdings, which can be accessed at https://www.investing.com/pro/CDRE. These tips can provide valuable perspectives for both current and potential investors. To enhance your investing experience, use the coupon code PRONEWS24 to get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription.
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