LONDON, UK / ACCESSWIRE / April 03, 2018 / Active-Investors has a free review on ABM Industries Inc. (NYSE: ABM) ("ABM") following the Company's announcement that it will begin trading ex-dividend on April 04, 2018. To capture the dividend payout, investors are required to purchase the stock a day prior to the ex-dividend date, that is latest at the end of the trading session on April 03, 2018. Active-Investors has initiated due-diligence on this dividend stock. Register with us for more free research including the one on ABM:
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On March 06, 2018, ABM announced that its Board of Directors has declared a cash dividend of $0.175 per common share payable on May 07, 2018, to shareholders of record on April 05, 2018.
ABM's indicated dividend represents a yield of 2.11%, which is marginally higher than the average dividend yield of 2.10% for the Services sector. This will be the Company's 208th consecutive quarterly cash dividend.
ABM has a dividend payout ratio of 36.3%, which denotes that the Company spends approximately $0.36 for dividend distribution out of every $1.00 earned. The dividend payout ratio reflects the 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, ABM is forecasted to report earnings of $2.37 for the next year, which is more than three times above the Company's annualized dividend of $0.70 per share.
As of January 31, 2018, ABM had cash and cash equivalents of $68.6 million compared to cash of $62.8 million as of October 31, 2017. For the three months ended January 31, 2018, the Company's net cash flows provided by operating activities of continuing operations totaled $33.8 million compared to cash used in operating activities of $9.7 million for the year ago period. The Company's strong financial position indicates its ability to absorb any fluctuations in earnings and cash flow and to sustain its dividend distribution for a long period.
Recent Development for ABM
On March 29, 2018, ABM announced that it has been named a preferred partner and awarded a five-year janitorial services contract at LaGuardia Airport's Terminal B by LaGuardia Gateway Partners, the private operator and developer of Terminal B. This includes servicing the existing Terminal B as well as the new state-of-the-art terminal that will open in phases through 2022.
ABM stated that the redevelopment of Terminal B is one of the most complex airport construction projects in the world, and when completed the new Terminal B will be a 1.3 million square foot facility with 35 gates and dual pedestrian bridges that span active aircraft taxi lanes.
ABM's Aviation team provides service excellence in passenger and facility maintenance services, including aircraft and airport cleaning, wheelchair services, catering, parking and transportation, to airports and airlines globally, including LaGuardia, John F. Kennedy International Airport, and Newark Liberty International Airport.
Stock Performance Snapshot
April 02, 2018 - At Monday's closing bell, ABM Industries' stock dropped 2.00%, ending the trading session at $32.81.
Volume traded for the day: 468.22 thousand shares.
After yesterday's close, ABM Industries' market cap was at $2.14 billion.
Price to Earnings (P/E) ratio was at 27.43.
The stock has a dividend yield of 2.13%.
The stock is part of the Services sector, categorized under the Business Services industry.
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