Cummins Inc. (CMI) To Go Ex-Dividend on November 20th

Cummins Inc. (NYSE:CMI) declared a quarterly dividend on Tuesday, October 13th. Investors of record on Friday, November 20th will be paid a dividend of $2.20 per share on Thursday, December 3rd. This represents a $8.80 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Friday, November 20th.

Cummins has raised 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 36.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Cummins to earn $35.05 per share next year, which means the company should continue to be able to cover its $8.80 annual dividend with an expected future payout ratio of 25.1%.

Cummins Stock Performance

Shares of NYSE:CMI opened at $525.39 on Thursday. The company has a market capitalization of $72.33 billion, a price-to-earnings ratio of 26.85, a price-to-earnings-growth ratio of 1.39 and a beta of 1.24. Cummins has a 52 week low of $405.82 and a 52 week high of $737.76. The company has a quick ratio of 1.13, a current ratio of 1.73 and a debt-to-equity ratio of 0.48. The firm has a 50 day moving average of $560.36 and a 200 day moving average of $620.42.

Cummins (NYSE:CMI) last released its quarterly earnings results on Tuesday, August 4th. The company reported $6.73 EPS for the quarter, missing the consensus estimate of $7.21 by ($0.48). The company had revenue of $9.46 billion during the quarter, compared to the consensus estimate of $9.33 billion. Cummins had a return on equity of 25.29% and a net margin of 7.82%. The company’s revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the firm posted $6.43 earnings per share. On average, sell-side analysts predict that Cummins will post 30.10 earnings per share for the current fiscal year.

About Cummins

Cummins Inc (NYSE: CMI) is a global power technology company headquartered in Columbus, Indiana. Founded in 1919, the company designs, manufactures, sells and services power solutions for commercial, industrial and infrastructure applications.

Its products include diesel and natural-gas engines, electrified powertrains, batteries, fuel cell systems, generators and other power-generation equipment. Cummins also produces components such as filtration systems, fuel systems, turbochargers and emission-control technologies.