LONDON, UK / ACCESSWIRE / June 14, 2018 / Active-Investors has a free review on Spirit AeroSystems Holdings, Inc. (NYSE: SPR) following the Company's announcement that it will begin trading ex-dividend on June 15, 2018. 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 June 14, 2018. Active-Investors has initiated due-diligence on this dividend stock. Register with us for more free research including the one on SPR:
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On April 25, 2018, Spirit AeroSystems announced that its Board of Directors declared a regular quarterly $0.12 per share cash dividend on its outstanding common stock; this represents an increase of 20% over the previous quarterly cash dividend. The dividend is payable July 09, 2018, to stockholders of record as of the close of business June 18, 2018.
Spirit AeroSystems’ indicated dividend represents a yield of 0.54%, as compared to the average dividend yield of 1.13% for the Industrial Goods sector.
Spirit AeroSystems has a dividend payout ratio of 7.6%, which denotes that the Company spends approximately $0.08 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, Spirit AeroSystems is forecasted to report earnings of $7.27 per share for the next year, which is substantially higher than the Company’s annualized dividend payout of $3.60 per share.
Spirit AeroSystems' cash from operations in Q1 2018 was $167 million compared to $112 million in Q1 2017. The Company’s reported quarter free cash flow was $118 million, up compared to free cash flow of $71 million in the year earlier same quarter. Spirit AeroSystems' cash balance at the end of Q1 2018 was $438 million. The Company's $650 million revolving credit facility remained undrawn at the end of the reported quarter. 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 Spirit AeroSystems
On May 21, 2018, Spirit AeroSystems broke ground on its state-of-the-art Global Digital Logistics Center that will increase storage capacity and part retrieval efficiency at its Wichita site. The new 150,000 square foot facility is being funded through a collaboration agreement between Spirit, the City of Wichita and Sedgwick County.
The Global Digital Logistics Center is designed to decrease flow time, improve inventory accuracy, and increase storage capacity for Spirit AeroSystems' Wichita operations. The Company currently fabricates about 38,000 unique parts daily at its Wichita site in addition to more than 100,000 unique parts sourced from suppliers.
The new logistics center is expected to be completed in early 2019 and will utilize a smart storage and retrieval system with racks nearly 70 feet tall. Spirit AeroSystems will consolidate 500,000 square feet in three logistics buildings into the new logistics center by taking advantage of vertical space.
About Spirit AeroSystems Holdings, Inc.
Spirit AeroSystems designs and builds aerostructures for both commercial and defense customers. With headquarters in Wichita, Kansas, Spirit operates sites in the US, UK, France, and Malaysia. The Company's core products include fuselages, pylons, nacelles, and wing components for the world's premier aircraft.
Stock Performance Snapshot
June 13, 2018 - At Wednesday’s closing bell, Spirit AeroSystems' stock marginally dropped 0.21%, ending the trading session at $89.18.
Volume traded for the day: 1.35 million shares, which was above the 3-month average volume of 1.11 million shares.
Stock performance in the last month – up 6.05%; previous three-month period – up 3.36%; past twelve-month period – up 55.28%; and year-to-date – up 2.21%
After yesterday’s close, Spirit AeroSystems' market cap was at $9.97 billion.
Price to Earnings (P/E) ratio was at 27.89.
The stock has a dividend yield of 0.54%.
The stock is part of the Industrial Goods sector, categorized under the Aerospace/Defense Products & Services industry.
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