EX-Dividend Schedule: Ituran Location and Control has a Dividend Yield of 2.84%; Will Trade Ex-Dividend on December 26, 2017
LONDON, UK / ACCESSWIRE / December 22, 2017 / Active-Investors has a free review on Ituran Location and Control Ltd (NASDAQ: ITRN) ("Ituran") following the Company's announcement that it will begin trading ex-dividend on December 26, 2017. To capture the dividend payout, investors must purchase the stock a day prior to the ex-dividend date (excluding weekend) that is by latest at the end of the trading session on December 22, 2017. Active-Investors has initiated due-diligence on this dividend stock. Register with us for more free research including the one on ITRN:
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Dividend Declared
On November 15, 2017, Ituran announced that its Board of Directors approved the distribution of a cash dividend in the amount of $0.24 per share, totaling approximately US$5 million. The dividend will be paid to shareholders of record as of December 27, 2017.
Ituran's indicated dividend represents a yield of 2.84%, which is substantially above the average dividend yield of 1.87% for the Services sector.
Dividend Insights
Ituran has a dividend payout ratio of 44.7%, which indicates that the Company spends approximately $0.45 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, Ituran is forecasted to report earnings of $2.15 per share for the next year, which is substantially above the Company's annualized dividend of $0.96 per share.
Ituran's retained earnings as of September 30, 2017, prior to the distribution were US$87.2 million and retained earnings will reach US$82.2 million after the distribution. As of September 30, 2017, the Company had a cash balance in hand of US$31.8 million. As of September 30, 2017, the Company's current assets (excluding cash, cash equivalents) were US$109.5 million and current liabilities were US$65.5 million. 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.
About Ituran Location and Control Ltd
Ituran is a leader in the emerging mobility technology field, providing value-added location-based services, including a full suite of services for the connected-car. The Company offers Stolen Vehicle Recovery, fleet management as well as mobile asset location, management & control services for vehicles, cargo and personal security. Its products and applications are used by customers in over 20 countries.
Ituran's subscriber base has been growing significantly since the Company's inception to over 1 million subscribers using its location based services with a market leading position in Israel and Brazil. Established in 1995, Ituran has over 1,500 employees worldwide, with offices in Israel, Brazil, Argentina and the United States.
Stock Performance Snapshot
December 21, 2017 - At Thursday's closing bell, Ituran's stock advanced 1.76%, ending the trading session at $34.75.
Volume traded for the day: 122.62 thousand shares, which was above the 3-month average volume of 34.54 thousand shares.
Stock performance in the previous six-month period – up 13.01%; past twelve-month period – up 31.63%; and year-to-date – up 31.13%
After yesterday's close, Ituran's market cap was at $728.71 million.
Price to Earnings (P/E) ratio was at 17.84.
The stock has a dividend yield of 2.76%.
The stock is part of the Services sector, categorized under the Electronics Wholesale industry. This sector was up 0.4% at the end of the session.
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