Raven Industries, Inc. (RAVN) to Issue Quarterly Dividend of $0.13 on January 26th

Raven Industries, Inc. (NASDAQ:RAVN) announced a quarterly dividend on Tuesday, December 5th, Wall Street Journal reports. Shareholders of record on Friday, January 12th will be paid a dividend of 0.13 per share by the conglomerate on Friday, January 26th. This represents a $0.52 annualized dividend and a yield of 1.47%. The ex-dividend date is Thursday, January 11th.

Raven Industries has raised its dividend by an average of 13.0% annually over the last three years. Raven Industries has a payout ratio of 51.0% meaning its dividend is sufficiently covered by earnings. Analysts expect Raven Industries to earn $1.17 per share next year, which means the company should continue to be able to cover its $0.52 annual dividend with an expected future payout ratio of 44.4%.

Raven Industries (NASDAQ:RAVN) opened at $35.40 on Friday. The firm has a market cap of $1,251.45, a P/E ratio of 34.31, a PEG ratio of 3.43 and a beta of 1.48. Raven Industries has a 1-year low of $23.65 and a 1-year high of $38.35.

Raven Industries (NASDAQ:RAVN) last posted its earnings results on Monday, November 20th. The conglomerate reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.10. The firm had revenue of $101.35 million during the quarter, compared to analyst estimates of $84.54 million. Raven Industries had a net margin of 10.56% and a return on equity of 13.88%. analysts predict that Raven Industries will post 1.02 EPS for the current year.

Raven Industries declared that its board has authorized a stock repurchase plan on Monday, December 4th that permits the company to buyback $25.00 million in shares. This buyback authorization permits the conglomerate to repurchase shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

Several equities analysts have recently weighed in on RAVN shares. Dougherty & Co lowered shares of Raven Industries from a “buy” rating to a “neutral” rating in a report on Tuesday, December 5th. Zacks Investment Research raised shares of Raven Industries from a “hold” rating to a “buy” rating and set a $38.00 target price for the company in a report on Friday, December 8th. BidaskClub lowered shares of Raven Industries from a “buy” rating to a “hold” rating in a report on Wednesday, December 6th. Finally, Piper Jaffray Companies reaffirmed a “hold” rating and set a $31.00 target price on shares of Raven Industries in a report on Sunday, October 1st. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $35.00.

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About Raven Industries

Raven Industries, Inc is a diversified technology company providing a range of products to customers within the industrial, agricultural, energy, construction and defense markets. The Company operates through three segments: Applied Technology Division (Applied Technology), Engineered Films Division (Engineered Films) and Aerostar Division (Aerostar).

Dividend History for Raven Industries (NASDAQ:RAVN)

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