MARYSVILLE, Ohio - The Scotts Miracle-Gro Company (NYSE: NYSE:SMG), a global leader in consumer lawn and garden care products, announced the appointment of Rob Candelino to its Board of Directors today. Candelino, currently the CEO of PetSafe Brands, brings extensive experience from his time with Unilever (LON:ULVR), where he served in various roles, including CEO of Unilever Thailand and Regional Head of Inland ASEAN.
Jim Hagedorn, chairman, CEO, and president of ScottsMiracle-Gro, expressed confidence in Candelino's diverse background, emphasizing his understanding of market-leading brands and his proven track record in marketing, general management, and team leadership. Candelino's global expertise in consumer brands spans product development, marketing, sales, and strategy. His work has earned him recognition, including an induction into the American Advertising Federation's Hall of Achievement in 2013 and recent acknowledgment as a Notable Alumni by The University of Guelph.
Candelino fills the Board seat vacated by Nancy Mistretta, who retired in January 2024. His appointment represents the fourth new addition to the Board since 2022, joining other notable members like former Nevada Governor Brian Sandoval. Candelino has expressed his eagerness to contribute to ScottsMiracle-Gro's legacy of innovation and brand development.
The company, with approximately $3.6 billion in sales, is known for its leading consumer brands such as Scotts®, Miracle-Gro®, and Ortho®. Its subsidiary, The Hawthorne Gardening Company, caters to the indoor and hydroponic growing segment. This appointment is part of the Board of Directors' ongoing effort to introduce fresh perspectives and viewpoints to the company's governance.
The information for this article is based on a press release statement from The Scotts Miracle-Gro Company.
In other recent news, Scotts Miracle-Gro Company, a significant presence in the consumer lawn and garden market, has declared a quarterly cash dividend of $0.66 per share. This dividend, announced by the company's Board of Directors, is set to be paid on December 6, 2024, to shareholders on record as of November 22, 2024. This move underscores Scotts Miracle-Gro's ongoing commitment to delivering value to its shareholders, with sales recently reaching approximately $3.6 billion.
In addition to its consumer products, Scotts Miracle-Gro also owns The Hawthorne Gardening Company, a subsidiary that serves the indoor and hydroponic growing industry. The dividend announcement is part of the company's financial strategy, often seen as a sign of financial health and attractive to income-focused shareholders.
Investors and analysts typically interpret such announcements as an indicator of a company's financial well-being and its ability to generate cash flow. As with all investments, dividends are just one factor to consider when evaluating a company's attractiveness and long-term value proposition. Remember, these are recent developments in the company's ongoing operations.
InvestingPro Insights
The appointment of Rob Candelino to ScottsMiracle-Gro's Board of Directors comes at an interesting time for the company. According to InvestingPro data, ScottsMiracle-Gro has shown impressive market performance, with a 76.02% price total return over the past year and a strong 30.71% return in the last three months. This positive momentum is reflected in the stock trading near its 52-week high, with a price that is 99.84% of its peak.
Despite these gains, the company faces some financial challenges. InvestingPro Tips indicate that ScottsMiracle-Gro has not been profitable over the last twelve months, with a negative P/E ratio of -19.91. However, analysts predict that the company will return to profitability this year, which could be a key focus for the new board member.
Candelino's experience in consumer brands and global markets could be particularly valuable as ScottsMiracle-Gro navigates its financial landscape. The company's revenue for the last twelve months stands at $3,512.5 million, with a slight decline of 4.3% in revenue growth. His expertise might help in strategizing to reverse this trend and capitalize on the company's strong brand portfolio.
It's worth noting that ScottsMiracle-Gro has maintained dividend payments for 20 consecutive years, currently offering a dividend yield of 2.88%. This commitment to shareholder returns, combined with the company's high shareholder yield, could be attractive to investors looking for stable income streams.
For those interested in a deeper dive into ScottsMiracle-Gro's financial health and prospects, InvestingPro offers 12 additional tips that could provide valuable insights for investment decisions.
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