LAS VEGAS - Southwest Gas (NYSE:SWX) Holdings, Inc. (NYSE:SWX) has announced a third-quarter cash dividend of $0.62 per share, payable on September 3, 2024, to shareholders of record as of August 15, 2024. This dividend represents an annualized rate of $2.48 per share. The company has maintained a consistent record of quarterly dividend payments since its initial public offering in 1956.
Southwest Gas Holdings operates primarily through its subsidiary Southwest Gas Corporation, which focuses on the purchase, distribution, and transportation of natural gas. Serving over 2 million residential, commercial, and industrial customers, the company caters to regions across Arizona, Nevada, and California. It also holds a majority stake in Centuri Holdings, Inc., offering utility infrastructure services throughout North America.
The company's commitment to providing safe and reliable service is coupled with its efforts to innovate sustainable energy solutions that support community growth. The dividend distribution information, including its tax implications, can be accessed via the Investor Relations section of the Southwest Gas website.
This financial update is based on a press release statement from Southwest Gas Holdings, Inc.
InvestingPro Insights
As Southwest Gas Holdings (NYSE:SWX) continues to reward its shareholders with consistent dividend payments, an annualized rate of $2.48 per share highlights the company's shareholder-friendly approach. This approach is further reinforced by the fact that Southwest Gas has raised its dividend for 17 consecutive years, a testament to its financial resilience and commitment to returning value to shareholders.
InvestingPro metrics provide a snapshot of the company's current financial health. With a market capitalization of $5.35 billion and a Price to Earnings (P/E) ratio of 35.12, investors may find the company's valuation metrics intriguing. The P/E ratio reflects the company's earnings relative to its share price, and when adjusted for the last twelve months as of Q4 2023, the P/E ratio stands at a more modest 26.02. This suggests that investors are paying less for each dollar of earnings than the unadjusted P/E ratio might indicate, which could be appealing for value-oriented investors.
Moreover, the company's performance in the market has been strong, with a 3-month price total return of 25.83% and a 6-month price total return of 31.38%, signaling robust investor confidence. This bullish trend is further highlighted by the stock trading near its 52-week high, at 97.22% of the peak price.
For those looking to delve deeper into Southwest Gas Holdings' financials and future prospects, InvestingPro offers additional insights. With a total of 12 InvestingPro Tips, including analysis on the company's debt burden, earnings multiples, and liquidity position, subscribers can make more informed investment decisions. To access these insights, visit: https://www.investing.com/pro/SWX. Use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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