Cummins Inc. (CMI) to Issue Quarterly Dividend of $2.00 on June 4th

Cummins Inc. (NYSE:CMI – Get Free Report) announced a quarterly dividend on Tuesday, May 12th. Investors of record on Friday, May 22nd will be paid a dividend of 2.00 per share on Thursday, June 4th. This represents a c) annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Friday, May 22nd.

Cummins has increased its dividend payment by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 19 consecutive years. Cummins has a payout ratio of 33.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Cummins to earn $32.02 per share next year, which means the company should continue to be able to cover its $8.00 annual dividend with an expected future payout ratio of 25.0%.

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Cummins Trading Down 2.8%

NYSE:CMI opened at $658.67 on Wednesday. The stock has a fifty day moving average price of $606.31 and a two-hundred day moving average price of $558.95. The stock has a market capitalization of $90.89 billion, a price-to-earnings ratio of 34.18, a PEG ratio of 1.71 and a beta of 1.27. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.11 and a current ratio of 1.71. Cummins has a 1 year low of $307.90 and a 1 year high of $718.08.

Cummins (NYSE:CMI – Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The company reported $6.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.63 by $0.52. The firm had revenue of $8.40 billion during the quarter, compared to analysts’ expectations of $8.37 billion. Cummins had a return on equity of 25.25% and a net margin of 7.89%.Cummins’s revenue was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $5.96 earnings per share. As a group, sell-side analysts anticipate that Cummins will post 28.39 earnings per share for the current fiscal year.

About Cummins

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Cummins Inc (NYSE: CMI) is a global power technology company that designs, manufactures, distributes and services a broad portfolio of diesel and natural gas engines, electrified powertrains, power generation systems and related components. Founded in 1919 and headquartered in Columbus, Indiana, Cummins has grown into one of the world’s leading suppliers of internal combustion engines and a provider of technologies that reduce emissions and improve fuel efficiency.

The company’s product lineup includes heavy-, medium- and light-duty engines for on-highway and off-highway applications, generator sets and power systems for commercial and industrial use, and key engine components such as turbochargers, fuel systems, air handling, filtration and aftertreatment solutions.

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