Yahoo Finance Roper (ROP) Board Approves 10% Hike in Quarterly Dividend Rate
Roper Technologies, Inc. ROP announced a 10% hike in the quarterly dividend rate. The improved rewards to shareholders reflect a strong cash position and belief in future profitability.
This is the 29th consecutive year of a dividend increment announcement made by Roper.
Inside the Headlines
As noted, Roper’s board of directors approved a hike of 5.75 cents per share in the quarterly dividend rate, which now stands at 62 cents per share. The previous quarterly dividend rate was 56.25 cents. On an annualized basis, the dividend rate has been improved from $2.25 to $2.48.
The company will pay out the revised quarterly dividend on Jan 24, 2022, to shareholders of record as of Jan 10.
Sound Capital-Allocation Strategies
Roper follows sound capital-allocation strategies, aiming to improve shareholder values. Free resources are primarily used for product development, improvement of services, end-market penetration, and rewarding shareholders through dividend payments.
In the first nine months of 2021, the company paid out dividends totaling $176.9 million, up 10.6% from $160 million disbursed in the year-ago period. On a quarterly basis, the company paid 0.5625 cents per share for each quarter of 2021. The last payment was made on Oct 20, 2021.
Zacks Rank, Price Performance and Earnings Estimate Trend
With a market capitalization of $51.9 billion, Roper currently carries a Zacks Rank #3 (Hold). Solid demand, investments to boost growth opportunities, inorganic actions, and rewards to shareholders raise Roper’s attractiveness. However, high costs and expenses are worrisome.
In the past three months, Roper’s shares have gained 1.3% against the industry’s decline of 1.1%.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for Roper’s earnings is pegged at $14.58 for 2021 and $15.43 for 2022. The consensus estimate reflects a decline of 4% for 2021 and 3.3% for 2022 from the respective 30-day-ago figures. The same for the fourth quarter of 2021 is pegged at $3.75, marking a decline of 5.3% from the 30-day-ago figure.
Roper Technologies, Inc. Price and Consensus
Roper Technologies, Inc. price-consensus-chart | Roper Technologies, Inc. Quote
Dividend Hikes by Three Players in the Sector
Below we discussed three companies belonging to the Zacks Industrial Products sector, which reward its shareholders with hiked quarterly dividend rates.
Applied Industrial Technologies, Inc. AIT hiked its quarterly dividend rate by 3.1% or one cent per share to 33 cents in January 2021. Dividends totaling $50.7 million and $12.7 million were paid out in fiscal 2020 (ended Jun 30, 2021) and first-quarter fiscal 2022 (ended Sep 30, 2021), respectively.
Applied Industrial presently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. The company’s earnings estimates improved for the current year in the past 60 days and its earnings surprise for the last reported quarter was 14.29%.
A. O. Smith Corporation AOS increased its quarterly dividend rate by 8% or 2 cents per share in October 2021. Total dividend disbursements were $125.4 million in the first nine months of 2021.
A. O. Smith’s earnings estimates have improved for the current year in the past 60 days. This Zacks Rank #2 company’s earnings surprise for the last reported quarter was 22.39%.
Cintas Corporation CTAS hiked its quarterly dividend rate by 26.7% or 20 cents per share in July 2021. In first-quarter fiscal 2022 (ended August 2021), its dividend payments totaled $79.1 million, while the same was $451.3 million in fiscal 2021 (ended May 2021).
Cintas presently carries a Zacks Rank #2. In the past 60 days, earnings estimates for the company improved for the current year. Also, earnings surprise in the last reported quarter was 12.68%.
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Roper Technologies, Inc. (ROP) : Free Stock Analysis Report
A. O. Smith Corporation (AOS) : Free Stock Analysis Report
Cintas Corporation (CTAS) : Free Stock Analysis Report
Applied Industrial Technologies, Inc. (AIT) : Free Stock Analysis Report
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