NEW BRITAIN, Conn. - Stanley Black & Decker (NYSE: SWK), a prominent tools and outdoor equipment company, has declared a regular cash dividend for the second quarter of 2024, continuing its streak of consistent payouts.
The company's Board of Directors has approved a dividend of $0.81 per common share, maintaining its status as the industrial company with the longest record of consecutive annual and quarterly dividend payments on the New York Stock Exchange.
Shareholders on record by the close of business on June 4, 2024, will be eligible for the dividend, which is scheduled for payment on June 18, 2024. This announcement underscores Stanley Black & Decker's commitment to providing returns to its investors and reflects the company's financial stability.
Stanley Black & Decker operates on a global scale, with a workforce exceeding 50,000 employees. The company is known for its diverse range of products, including power tools, hand tools, storage solutions, digital jobsite innovations, and engineered fastening systems. Its portfolio of brands, such as DEWALT®, CRAFTSMAN®, STANLEY®, BLACK+DECKER®, and Cub Cadet®, is recognized for their reliability and innovation, catering to builders, tradespeople, and DIY enthusiasts around the world.
The information regarding the dividend is based on a press release statement from Stanley Black & Decker. The company's commitment to shareholder returns is evident through its long-standing dividend payment history, which is a point of interest for investors and market watchers alike.
Stanley Black & Decker's consistent dividend payments are a testament to its financial health and its ability to generate steady cash flow, marking it as a noteworthy player in the industrial sector.
InvestingPro Insights
As Stanley Black & Decker (NYSE: SWK) continues to demonstrate its commitment to shareholder returns through consistent dividend payments, it's important to delve into the company's financial metrics and market performance. With a market capitalization of $13.79 billion, Stanley Black & Decker's financial health can be further illuminated by its latest data and expert analysis.
Investors may find the company's Price to Earnings (P/E) Ratio particularly intriguing. Currently, the P/E Ratio stands at a negative -43.41, reflecting challenges in the past year. Still, looking at the adjusted P/E Ratio for the last twelve months as of Q4 2023, the figure is at 70.46, which indicates high expectations for future earnings growth relative to the current earnings.
This aligns with an InvestingPro Tip highlighting that net income is expected to grow this year. Moreover, Stanley Black & Decker's dividend yield as of March 2024 is an attractive 3.65%, which is a key consideration for income-focused investors.
The company's revenue for the last twelve months as of Q4 2023 was $15.78 billion, with a gross profit margin of 25.98%. Despite a revenue decline of -6.88% during this period, Stanley Black & Decker's longstanding history of raising dividends—now for 54 consecutive years—speaks to its resilience and strategic financial management. Four analysts have revised their earnings estimates upwards for the upcoming period, which could signal a positive outlook for the company's profitability.
For investors seeking comprehensive analysis and additional insights, there are more InvestingPro Tips available, such as the company's status as a prominent player in the Machinery industry and its trading at a high EBIT valuation multiple. To explore these tips further and gain a deeper understanding of Stanley Black & Decker's financial prospects, interested parties can visit https://www.investing.com/pro/SWK. Moreover, to make this investment research tool even more accessible, users can apply the coupon code PRONEWS24 to receive an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
With these insights, investors are better equipped to assess Stanley Black & Decker's position in the market and its potential for future growth, especially when considering its upcoming earnings date on May 2, 2024.
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