Curtiss-Wright Company CW introduced that its board of administrators accepted a 6% improve in its quarterly dividend to 18 cents per share from the dividend of 17 cents paid out in first-quarter 2021. The quantity is payable Jul 2, 2021 to the corporate’s stockholders of document on Jun 18, 2021.
The brand new dividend yield of the corporate will probably be 0.59% in contrast with its earlier yield of 0.54%.
Can This Dividend be Sustained?
Since 2013, Curtiss-Wright has returned greater than $1 billion to its shareholders via share repurchases and dividend payouts. After finishing its second share buyback program within the fourth quarter of 2020, which raised the full-year buyback to $200 million, the corporate repurchased shares price $12 million in first-quarter 2021. Furthermore, its adjusted free money circulation improved 34% within the first three months of 2021 yr over yr.
Curtiss-Wright expects 7-9% income development in 2021, backed by a robust enchancment within the Aerospace & Protection and Business markets. The corporate’s profitability is predicted to be higher via top-line development and financial savings generated by restructuring actions. The corporate is predicted to generate free money circulation within the $330-$360 million vary throughout 2021 by way of its monetary self-discipline. These optimistic developments point out the corporate’s means to maintain the dividend price.
Final month, Curtiss-Wright introduced that it was awarded a contract by Lockheed Martin Aeronautics, a Lockheed Martin LMT firm, to offer its industry-leading rugged commercial-off-the-shelf processor module know-how to improve the F-22 Raptor. Order wins of this nature proceed to behave as tailwinds, thus enabling administration to hold on with shareholder-friendly strikes.
Peer Strikes
Secure money circulation permits protection firms to reward shareholders with common dividend hikes, thereby inserting them in buyers’ good books. Some such gamers are listed below-
Raytheon Applied sciences Company RTX hiked its quarterly dividend by greater than 7% to 51 cents per share. Normal Dynamics Company GD lifted its annual dividend by 8.2% to $4.76 per share from the prior degree of $4.40.
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Normal Dynamics Company (GD): Free Inventory Evaluation Report
Lockheed Martin Company (LMT): Free Inventory Evaluation Report
CurtissWright Company (CW): Free Inventory Evaluation Report
Raytheon Applied sciences Company (RTX): Free Inventory Evaluation Report
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Zacks Funding Analysis
The views and opinions expressed herein are the views and opinions of the writer and don’t essentially mirror these of Nasdaq, Inc.