MAUMEE, Ohio - Dana Incorporated (NYSE: DAN), a global provider of propulsion and energy-management solutions, has declared a quarterly dividend of $0.10 per share, the company announced today. The dividend is payable on May 31, 2024, to shareholders of record as of May 10, 2024.
The Ohio-based company, with a history dating back to 1904, specializes in a wide range of products for vehicles and machines, including drive and motion systems, electrodynamic technologies with corresponding software and controls, and various thermal and sealing solutions.
Dana has been recognized for its ethical business practices and responsibility, being named among the "World's Most Ethical Companies" for two consecutive years, 2023 and 2024, by Ethisphere Institute, and as one of "America's Most Responsible Companies 2023" by Newsweek.
In 2023, Dana reported sales of $10.6 billion and employs approximately 42,000 people across 31 countries on six continents.
This dividend payment is based on a press release statement from Dana Incorporated.
InvestingPro Insights
Dana Incorporated (NYSE: DAN) has maintained a steady approach to shareholder returns, announcing a consistent dividend amidst a backdrop of financial metrics that warrant attention. According to InvestingPro data, the company has a market capitalization of approximately $1.81 billion, illustrating its significant presence in the industry. Despite a challenging environment, Dana's net income is expected to grow this year, signaling potential upward momentum for the company's financial health.
The company's P/E ratio, which currently stands at 47.38, is anticipated to adjust to a lower 32.21 based on last twelve months as of Q4 2023. This adjustment suggests a more favorable valuation relative to the company's near-term earnings growth. Furthermore, Dana's commitment to innovation and growth is reflected in its revenue, which was reported at $10.55 billion for the last twelve months as of Q4 2023, with a gross profit margin of 8.53%.
An InvestingPro Tip highlights that Dana operates with a significant debt burden, which is an essential factor for investors to consider when evaluating the company's financial stability. Additionally, while analysts predict Dana will be profitable this year, it is worth noting that four analysts have revised their earnings expectations downwards for the upcoming period, which may affect investor sentiment.
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