NEW BRITAIN, Conn. - Stanley Black & Decker (NYSE: SWK) has declared a regular fourth quarter cash dividend of $0.82 per common share, the company announced today. The dividend is scheduled for payment on December 17, 2024, to shareholders on record by November 29, 2024.
This latest dividend announcement upholds Stanley Black & Decker's standing as the industrial company with the longest streak of consecutive annual and quarterly dividend payments on the New York Stock Exchange. The company's commitment to consistent shareholder returns is a testament to its financial stability and operational success.
Founded in 1843, Stanley Black & Decker operates on a global scale, providing a broad range of tools, storage solutions, digital jobsite products, and engineered fasteners. With approximately 50,000 employees worldwide, the company is known for its innovative products catering to builders, tradespeople, and do-it-yourself enthusiasts. Its portfolio includes well-known brands such as DEWALT®, CRAFTSMAN®, STANLEY®, BLACK+DECKER®, and Cub Cadet®.
The company's decision to maintain its dividend payout reflects its strong financial position and its Board of Directors' confidence in the business's ability to generate cash flow. Shareholders looking forward to the dividend payout should ensure their records are up-to-date before the November 29 deadline.
This news is based on a press release statement issued by Stanley Black & Decker.
In other recent news, Stanley Black & Decker has seen significant developments with a focus on earnings and revenue results. The company reported a slight rise in earnings for the second quarter, surpassing expectations despite a challenging economic environment. Analyst firms Baird, CFRA, and Mizuho have adjusted their price targets for the company, reflecting its ongoing restructuring efforts and operational performance.
Stanley Black & Decker has also implemented cost reduction strategies expected to yield significant pre-tax savings of $1.5 billion by year-end and $2 billion by 2025. The company's second quarter results showed improved gross margins and organic growth. However, a slight decrease in full-year organic revenue and a 1% decline in Tools & Outdoor revenue are anticipated.
Morgan Stanley (NYSE:MS) has initiated coverage on Stanley Black & Decker, acknowledging its effective restructuring plan and projecting gross-margin fueled earnings per share growth. Despite a lowered full-year sales outlook due to sluggish consumer demand, Stanley Black & Decker remains optimistic about its long-term growth potential. These are the recent developments for Stanley Black & Decker.
InvestingPro Insights
Stanley Black & Decker's recent dividend announcement aligns with its impressive track record of shareholder returns. According to InvestingPro Tips, the company has raised its dividend for 53 consecutive years and maintained dividend payments for 54 consecutive years. This consistency is particularly noteworthy given the company's current dividend yield of 3.1%, as reported by InvestingPro Data.
Despite facing some challenges, including not being profitable over the last twelve months, Stanley Black & Decker shows signs of resilience. InvestingPro Tips indicate that net income is expected to grow this year, and analysts predict the company will return to profitability. This optimism is reflected in the stock's strong performance, with a 21.41% price total return over the last three months.
The company's position as a prominent player in the Machinery industry, coupled with its high shareholder yield, suggests that Stanley Black & Decker remains committed to creating value for its investors. For those interested in a deeper analysis, InvestingPro offers 7 additional tips that could provide further insights into the company's financial health and future prospects.
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