Cummins Inc. (NYSE:CMI) Plans Quarterly Dividend of $2.20

Cummins Inc. (NYSE:CMI) announced a quarterly dividend on Monday, July 13th. Stockholders of record on Friday, August 21st will be paid a dividend of 2.20 per share on Thursday, September 3rd. This represents a c) dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Friday, August 21st. This is a 10.0% increase from Cummins’s previous quarterly dividend of $2.00.

Cummins 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 19 years. Cummins has a payout ratio of 33.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Cummins to earn $34.02 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 23.5%.

Cummins Stock Down 1.8%

Cummins stock opened at $663.64 on Tuesday. The firm has a market cap of $91.58 billion, a price-to-earnings ratio of 34.44, a price-to-earnings-growth ratio of 1.65 and a beta of 1.22. Cummins has a 52 week low of $335.48 and a 52 week high of $737.76. The business’s 50-day moving average price is $679.36 and its 200 day moving average price is $611.01. The company has a quick ratio of 1.11, a current ratio of 1.71 and a debt-to-equity ratio of 0.50.

Cummins (NYSE:CMI) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $6.15 earnings per share for the quarter, beating the consensus estimate of $5.63 by $0.52. Cummins had a return on equity of 25.25% and a net margin of 7.89%.The company had revenue of $8.40 billion during the quarter, compared to analysts’ expectations of $8.37 billion. During the same period last year, the business earned $5.96 earnings per share. Cummins’s quarterly revenue was up 2.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Cummins will post 29.32 earnings per share for the current year.

Cummins Company Profile

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.