Snap-On Incorporated (NYSE:SNA) Increases Dividend to $2.75 Per Share

Snap-On Incorporated (NYSE:SNA – Get Free Report) declared a quarterly dividend on Friday, November 6th. Stockholders of record on Friday, November 20th will be given a dividend of $2.75 per share on Thursday, December 10th. This represents a $11.00 annualized dividend and a dividend yield of 3.0%. The ex-dividend date is Friday, November 20th. This is a 12.7% increase from Snap-On’s previous quarterly dividend of $2.44.

Snap-On has increased its dividend payment by an average of 0.1% per year over the last three years and has raised its dividend every year for the last 15 years. Snap-On has a dividend payout ratio of 48.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Snap-On to earn $20.63 per share next year, which means the company should continue to be able to cover its $9.76 annual dividend with an expected future payout ratio of 47.3%.

Snap-On Price Performance

Shares of Snap-On stock traded up $0.87 during trading on Friday, hitting $367.31. The stock had a trading volume of 327,571 shares, compared to its average volume of 363,284. The business has a fifty day moving average of $369.34 and a two-hundred day moving average of $380.24. Snap-On has a fifty-two week low of $320.80 and a fifty-two week high of $423.02. The firm has a market cap of $18.95 billion, a P/E ratio of 19.10, a PEG ratio of 2.63 and a beta of 0.75. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.55 and a quick ratio of 2.71.

Snap-On (NYSE:SNA – Get Free Report) last issued its quarterly earnings results on Thursday, October 22nd. The company reported $4.64 EPS for the quarter, missing the consensus estimate of $4.93 by ($0.29). Snap-On had a return on equity of 16.77% and a net margin of 20.82%. The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.24 billion. During the same quarter last year, the firm posted $4.71 earnings per share. Snap-On’s revenue was down .6% compared to the same quarter last year. On average, sell-side analysts expect that Snap-On will post 19.24 earnings per share for the current fiscal year.

About Snap-On

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Snap-on Incorporated is a manufacturer and distributor of professional tools, equipment, diagnostics, and related services. Its offerings include hand and power tools, tool storage, vehicle repair equipment, diagnostic systems, and repair information and management software. The company serves professional users who work in automotive repair, heavy-duty transportation, aviation, agriculture, construction, industrial production, government, and other technical fields.

Snap-on markets products under the Snap-on brand and other brands, including Blue-Point, Bahco, and Williams.

See Also

Dividend History for Snap-On (NYSE:SNA)

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