Dividend Coverage: This Technology and Engineering Company Has Raised Dividend for 60 Consecutive Years; Will Trade Ex-Dividend on November 16, 2017
LONDON, UK / ACCESSWIRE / November 15, 2017 / Pro-Trader Daily takes a closer look at Emerson Electric Co. (NYSE: EMR) as the Company's stock will begin trading ex-dividend on November 16, 2017. In order to capture the dividend payout, investors must purchase the stock a day prior to the ex-dividend date that is by latest at the end of the trading session on November 15, 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 November 07, 2017, Emerson's Board of Directors of declared the regular quarterly cash dividend of $0.485 per share of common stock payable December 11, 2017, to stockholders of record November 17, 2017.
Emerson's indicated dividend represents a yield of 3.15% which is more than double the average dividend yield of 1.19% for the Industrial Goods sector. The Company has raised dividend for sixty consecutive years.
Dividend Insights
Emerson has a dividend payout ratio of 66.9%, which indicates that the Company spends approximately $0.67 for dividend distribution out of every $1.00 earned. The dividend payout ratio reflects how much amount 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, Emerson is forecasted to report earnings of $3.21 for the next year, which is substantially above the Company's annualized dividend of $1.94 per share.
On September 30, 2017, Emerson's cash and cash equivalents totaled $3.06 billion compared to $3.18 billion as on September 30, 2016. For the twelve months ended September 30, 2017, the Company's net cash provided by operating activities totaled $2.69 billion compared to cash flow from operating activities of $2.50 billion in the year ago same period. Emerson's free cash flow from continuing operations exceeded $2.2 billion, reflecting 135% conversion of net earnings from continuing operations. The Company's strong financial position indicates its ability to absorb any fluctuations in earnings and cash flow and to sustain the dividend distribution for a long period.
Recent Development for Emerson
On November 09, 2017, Emerson announced the retirement of Chief Operating Officer (COO) Ed Purvis after 34 years with the Company, effective December 31, 2017. Emerson announced that Steve Pelch, currently Executive Vice President of organization planning and development, will succeed Purvis as Executive Vice President and COO of the Company, effective January 01, 2018.
Purvis began his career with Emerson in 1983 as a product planner with Copeland Corporation. Prior to being named COO in 2015, he served nearly seven years as Executive Vice President and business leader of Emerson Climate Technologies, now Emerson Commercial and Residential Solutions.
Steve Pelch began his career as an application engineer in Emerson's Automation Solutions business and then spent 17 years in a variety of business unit leadership roles across the US and in Asia. For the last 13 years, he has held corporate roles in strategic planning, human resources and organizational planning and development in the Company. Pelch holds a bachelor's degree in Mechanical Engineering from the University of Missouri and an MBA from the University of South Carolina.
About Emerson
Emerson, headquartered in St. Louis, Missouri, is a global technology and engineering Company providing innovative solutions for customers in industrial, commercial, and residential markets. The Company's Emerson Automation Solutions business helps process, hybrid, and discrete manufacturers maximize production, protect personnel, and the environment while optimizing their energy and operating costs, while its Emerson Commercial & Residential Solutions business helps ensure human comfort and health, protect food quality, and safety, advance energy efficiency, and create sustainable infrastructure.
Stock Performance
On Tuesday, November 14, 2017, the stock closed the trading session at $60.74, falling 1.06% from its previous closing price of $61.39. A total volume of 2.85 million shares have exchanged hands, which was higher than the 3-month average volume of 2.79 million shares. Emerson Electric's stock price surged 2.39% in the last three months, 4.74% in the past six months, and 9.42% in the previous twelve months. Furthermore, since the start of the year, shares of the Company have rallied 8.95%. The stock is trading at a PE ratio of 23.72 and has a dividend yield of 3.16%. At Tuesday's closing price, the stock's net capitalization stands at $38.79 billion.
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