Snap-On Incorporated (NYSE:SNA) Plans Dividend Increase – $2.75 Per Share

Snap-On Incorporated (NYSE:SNA) 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 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend 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 by an average of 0.1% per year over the last three years and has raised its dividend annually for the last 15 consecutive 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. 327,571 shares of the company’s stock traded hands, compared to its average volume of 363,284. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.55 and a quick ratio of 2.71. The firm’s fifty day moving average price is $369.34 and its 200 day moving average price is $380.24. Snap-On has a twelve month low of $320.80 and a twelve month high of $423.02. The company has a market cap of $18.95 billion, a PE ratio of 19.10, a PEG ratio of 2.63 and a beta of 0.75.

Snap-On (NYSE:SNA) last posted its quarterly earnings results on Thursday, October 22nd. The company reported $4.64 earnings per share (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 analyst estimates of $1.24 billion. During the same period last year, the company earned $4.71 EPS. The business’s revenue for the quarter was down .6% on a year-over-year basis. Analysts forecast that Snap-On will post 19.24 earnings per share for the current year.

About Snap-On

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.