Patrick Industries, Inc. (PATK) to Issue Quarterly Dividend of $0.47 on June 8th

Patrick Industries, Inc. (NASDAQ:PATK) declared a quarterly dividend on Thursday, May 14th. Shareholders of record on Tuesday, May 26th will be given a dividend of 0.47 per share by the construction company on Monday, June 8th. This represents a c) dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Tuesday, May 26th.

Patrick Industries has increased its dividend payment by an average of 0.2%per year over the last three years and has raised its dividend every year for the last 6 years. Patrick Industries has a payout ratio of 34.7% meaning its dividend is sufficiently covered by earnings. Analysts expect Patrick Industries to earn $5.84 per share next year, which means the company should continue to be able to cover its $1.88 annual dividend with an expected future payout ratio of 32.2%.

Patrick Industries Stock Down 3.1%

Patrick Industries stock opened at $91.19 on Friday. The firm has a market cap of $3.00 billion, a price-to-earnings ratio of 23.38 and a beta of 1.12. The company has a debt-to-equity ratio of 1.16, a current ratio of 2.71 and a quick ratio of 1.04. Patrick Industries has a fifty-two week low of $82.24 and a fifty-two week high of $148.50. The firm has a fifty day moving average price of $106.51 and a two-hundred day moving average price of $113.58.

Patrick Industries (NASDAQ:PATK) last released its earnings results on Thursday, April 30th. The construction company reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $1.08 by $0.02. Patrick Industries had a net margin of 3.46% and a return on equity of 13.24%. The firm had revenue of $997.17 million during the quarter, compared to analyst estimates of $989.06 million. During the same quarter in the previous year, the business earned $1.11 EPS. The business’s revenue was down .6% on a year-over-year basis. As a group, analysts forecast that Patrick Industries will post 4.94 earnings per share for the current year.

About Patrick Industries

Patrick Industries, Inc is a leading manufacturer and distributor of component products and building materials for the recreational vehicle (RV), manufactured housing, marine and industrial markets. The company supplies a broad array of interior and exterior products, including cabinetry, countertops, flooring, wall panels and decorative trim. Patrick Industries also offers engineered composites, adhesives, sealants and insulation solutions that cater to both original equipment manufacturers (OEMs) and aftermarket customers across North America.

Founded in 1959 and headquartered in Elkhart, Indiana, Patrick Industries began as a small distributor of hardwood and millwork products.