FORT WAYNE, Ind. - Franklin Electric Co., Inc. (NASDAQ:FELE), a global leader in water and energy movement systems, has declared a quarterly cash dividend. The company's Board of Directors announced a dividend of $0.25 per share, which is slated for payment on November 21, 2024, to shareholders who are on record as of November 7, 2024.
The company, known for its technical leadership in its product and service offerings, caters to a diverse clientele across residential, commercial, agricultural, industrial, municipal, and fueling sectors worldwide. Franklin Electric has also earned recognition for its corporate responsibility, having been named among America's Most Responsible Companies and Most Trustworthy Companies for 2023 by Newsweek, as well as being listed as one of America's Climate Leaders 2023 by USA Today.
However, the company underscores that its forward-looking statements, such as those concerning financial results, market conditions, and business goals, are subject to a variety of risks and uncertainties. These include general economic and currency conditions, industry-specific conditions, weather, market demand, competitive factors, supply constraints, and raw material costs, among others. The company has detailed these risks in its filings with the Securities and Exchange Commission, including its Annual Report for the fiscal year ending December 31, 2023, and its Quarterly Reports.
The announcement of the dividend is based on information currently available, and while the company has made these forward-looking statements, it does not commit to updating them in the future. This dividend declaration is part of the company's ongoing commitment to delivering value to its shareholders.
This report is based on a press release statement from Franklin Electric Co., Inc.
InvestingPro Insights
Franklin Electric Co., Inc. (NASDAQ:FELE) continues to demonstrate its commitment to shareholder value through its recent dividend declaration. This aligns with the company's strong track record of dividend payments, as highlighted by InvestingPro Tips. Notably, Franklin Electric has raised its dividend for 31 consecutive years and has maintained dividend payments for 32 consecutive years, showcasing its financial stability and dedication to returning value to shareholders.
The company's financial health is further underscored by several key metrics from InvestingPro. With a market capitalization of $4.64 billion and a P/E ratio of 24.98, Franklin Electric appears to be trading at a reasonable valuation considering its consistent dividend growth. The company's revenue for the last twelve months stands at $2.02 billion, with a gross profit margin of 35.21%, indicating a solid financial foundation.
InvestingPro Tips also reveal that Franklin Electric operates with a moderate level of debt and that its cash flows can sufficiently cover interest payments. This financial prudence is crucial for maintaining the company's long-term dividend strategy and overall financial health.
For investors seeking more comprehensive insights, InvestingPro offers additional tips and analysis on Franklin Electric. There are 5 more InvestingPro Tips available, providing a deeper understanding of the company's financial position and market performance.
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