U.S. markets closed
  • S&P Futures

    4,166.00
    +10.50 (+0.25%)
     
  • Dow Futures

    34,058.00
    +100.00 (+0.29%)
     
  • Nasdaq Futures

    13,926.50
    +29.25 (+0.21%)
     
  • Russell 2000 Futures

    2,233.90
    +4.60 (+0.21%)
     
  • Crude Oil

    63.90
    +0.52 (+0.82%)
     
  • Gold

    1,774.40
    +3.80 (+0.21%)
     
  • Silver

    26.01
    +0.17 (+0.67%)
     
  • EUR/USD

    1.2070
    +0.0029 (+0.24%)
     
  • 10-Yr Bond

    1.6010
    +0.0280 (+1.78%)
     
  • Vix

    17.29
    +1.04 (+6.40%)
     
  • GBP/USD

    1.4001
    +0.0017 (+0.12%)
     
  • USD/JPY

    108.1170
    -0.0330 (-0.03%)
     
  • BTC-USD

    54,623.39
    -2,477.02 (-4.34%)
     
  • CMC Crypto 200

    1,245.12
    -53.84 (-4.14%)
     
  • FTSE 100

    7,000.08
    -19.45 (-0.28%)
     
  • Nikkei 225

    29,150.71
    -534.66 (-1.80%)
     

EnPro's (NPO) Board Okays 4% Hike in Quarterly Dividend Rate

  • Oops!
    Something went wrong.
    Please try again later.
Zacks Equity Research
·3 min read
  • Oops!
    Something went wrong.
    Please try again later.

EnPro Industries, Inc. NPO yesterday announced that it is rewarding its shareholders with a hike in the quarterly dividend rate. This increment marks its 5th consecutive year of a dividend raise.

We believe that such shareholder-friendly policies underline the company’s strong cash position and commitment toward returning high value to its shareholders.

Inside the Headlines

As announced, EnPro’s board of directors approved a hike of 4% or 1 cent per share in the quarterly dividend rate, which now moved up from 25 cents to 26 cents. On an annualized basis, the dividend increased to $1.04 per share from $1.00.

EnPro will pay the revised quarterly dividend on Mar 18, 2020, to its shareholders of record as of Mar 4.

Sound Shareholder-Friendly Policies

The company firmly believes in rewarding its shareholders handsomely through dividend payments. Its cash dividend payout increased from 80 cents per share in 2015 to $1.00 in 2019. It paid out a cash dividend of $15.7 million to its shareholders in the first three quarters of 2019.

Additionally, the company repurchases shares to reward its shareholders. In the first nine months of 2019, it bought back shares worth $15 million.

Zacks Rank, Earnings Projections and Price Performance

With a market capitalization of $1.2 billion, EnPro currently carries a Zacks Rank #3 (Hold). In the past three months, the company’s stock price has decreased 5.4% against the industry’s growth of 8.6%.




 

In the past 60 days, earnings estimates for EnPro have been unchanged at $2.69 for 2019 (results are awaited) and $2.88 for 2020. On a year-over-year basis, the estimate represents declines of 31.2% for 2019 and growth of 7.1% for 2020.

EnPro Industries Price and Consensus

 

EnPro Industries Price and Consensus
EnPro Industries Price and Consensus

EnPro Industries price-consensus-chart | EnPro Industries Quote

Stocks to Consider

Some better-ranked stocks are Graco Inc. GGG, Dover Corporation DOV and Nordson Corporation NDSN. While Graco currently sports a Zacks Rank #1 (Strong Buy), both Dover and Nordson carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

In the past 60 days, earnings estimates for these companies have improved for the current year. Further, positive earnings surprise for the last four quarters, on average, was 0.40% for Graco and 5.36% for Dover. Nordson delivered an earnings beat of 1.13% in the last reported quarter.

Biggest Tech Breakthrough in a Generation

Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.

A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time.

See 8 breakthrough stocks now>>


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
Graco Inc. (GGG) : Free Stock Analysis Report
 
Dover Corporation (DOV) : Free Stock Analysis Report
 
EnPro Industries (NPO) : Free Stock Analysis Report
 
Nordson Corporation (NDSN) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research