Dividend Coverage: This Aluminum Products Company has a Dividend Yield of 2.09%; Will Trade Ex-Dividend on July 25, 2017
MAIN, GERMANY / ACCESSWIRE / July 24, 2017 / Pro-Trader Daily takes a closer look at Kaiser Aluminum Corp. (NASDAQ: KALU) as the Company's stock will begin trading ex-dividend on July 25, 2017. In order to capture the dividend payout, investors must purchase the stock one day prior to the ex-dividend date, that is by latest at the end of trading session on July 24, 2017. Are you looking for research on dividend stocks, if so register with us now for your free membership at:
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Dividend Declared
On July 17, 2017, Kaiser Aluminum announced that its Board of Directors has declared a quarterly cash dividend of $0.50 per share. The dividend will be payable on August 15, 2017, to shareholders of record as of the close of business on July 27, 2017.
Kaiser Aluminum's indicated dividend represents a yield of 2.09% compared to the average dividend yield of 2.37% for the Basic Materials sector. The Company has increased dividend for 5 consecutive years and has been consistently paying dividends for more than 10 years.
Dividend Insights
Kaiser Aluminum has a dividend payout ratio of 40.7%, which indicates that the Company distributes approximately $0.41 for every $1.00 earned. The dividend payout ratio reflects how much money a Company is returning to shareholders versus how much money it is keeping on hand to reinvest in growth, to pay off debt, and/or to add to its cash reserves.
According to analysts' estimates, Kaiser Aluminum is projected to report earnings of $5.55 which is more than two and a half times that of the Company's annualized dividend of $2.00.
As of June 30, 2017, Kaiser Aluminum's total cash, cash equivalents, and short-term investments were approximately $233 million, and its borrowing availability under the Company's Revolving Credit Facility was approximately $287 million. The strong financial position provides a cushion for the Company to absorb any fluctuations in earnings and suggest its ability to pay dividend without interruption for a long period of time.
About the Company
Headquartered in Foothill Ranch, California, Kaiser Aluminum, is a leading producer of semi-fabricated specialty aluminum products, serving customers worldwide with highly-engineered solutions for aerospace and high-strength, general engineering, and custom automotive and industrial applications. The Company's North American facilities produce value-added sheet, plate, extrusions, rod, bar, tube and wire products, adhering to traditions of quality, innovation and service that have been key components of its culture since the Company was founded in 1946. The Company's stock is included in the Russell 2000® index and the S&P Small Cap 600® index.
Recent Development for Kaiser Aluminum
On July 19, 2017, Kaiser Aluminum reported net sales of $356 million for Q2 FY17, up approximately 6% from $335 million in the prior year's same period, reflecting 3% higher shipments and a 3% increase in average selling price.
The Company posted net income of $5 million, or $0.27 earnings per diluted share, for Q2 FY17 compared to net income and earnings per diluted share of $26 million and $1.43, respectively for Q2 FY16. Excluding the impact of non-run-rate items, the Company's adjusted net income was $25 million, or $1.47 per diluted share, for the reported quarter, up from adjusted net income of $19 million, or $1.02 per diluted share, for the prior year's comparable quarter.
Stock Performance
Kaiser Aluminum's share price finished last Friday's trading session at $95.89, marginally sliding 0.11%. A total volume of 157.23 thousand shares have exchanged hands, which was higher than the 3-month average volume of 148.80 thousand shares. The Company's stock price surged 15.03% in the last three months, 20.01% in the past six months, and 14.60% in the previous twelve months. Additionally, the stock rallied 23.43% since the start of the year. Shares of the Company have a PE ratio of 16.88 and have a dividend yield of 2.09%. The stock currently has a market cap of $1.64 billion.
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