Advertisement
U.S. markets closed
  • S&P 500

    5,254.35
    +5.86 (+0.11%)
     
  • Dow 30

    39,807.37
    +47.29 (+0.12%)
     
  • Nasdaq

    16,379.46
    -20.06 (-0.12%)
     
  • Russell 2000

    2,124.55
    +10.20 (+0.48%)
     
  • Crude Oil

    83.10
    +1.75 (+2.15%)
     
  • Gold

    2,252.90
    +40.20 (+1.82%)
     
  • Silver

    25.09
    +0.34 (+1.37%)
     
  • EUR/USD

    1.0792
    -0.0037 (-0.35%)
     
  • 10-Yr Bond

    4.2060
    +0.0100 (+0.24%)
     
  • GBP/USD

    1.2623
    -0.0015 (-0.12%)
     
  • USD/JPY

    151.3630
    +0.1170 (+0.08%)
     
  • Bitcoin USD

    70,736.30
    +1,807.14 (+2.62%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     
  • FTSE 100

    7,952.62
    +20.64 (+0.26%)
     
  • Nikkei 225

    40,168.07
    -594.66 (-1.46%)
     

Thor (THO) Announces 5% Hike in Quarterly Cash Dividend

In sync with its capital-deployment target in fiscal 2019, Thor (THO) announces a dividend hike of roughly 5% to 39 cents per share.

Thor Industries, Inc. THO announced that its board approved a 5% increase in its quarterly cash dividend on common stock to 39 cents per share. The earlier payout was 37 cents per share. The revised dividend will be paid on Nov 9 to shareholders of record as of Oct 25, 2018.

Prior to this hike, Thor’s board approved a dividend hike of 12% to 37 cents per share in October 2017. In subsequent quarters, the same amount was paid to the company’s shareholders.

Thor pays regular quarterly cash dividends and engages in share buyback programs to return value to its shareholders. In June 2018, Thor’s board authorized it to repurchase $250 million worth of shares over the next two years.

At the fiscal 2018 end, on Jul 31, 2018, the company had cash and cash equivalents of $275.2 million, up from $223.3 million in the same period of last fiscal. Further, Thor’s long-term debt was nil compared with $145 million recorded on Jul 31, 2017. A strong cash flow combined with gains from Jayco’s acquisition in 2016 enabled the company to pay off its remaining debt before the fiscal end and offer regular quarterly cash dividend. Similar to the last fiscal, Thor aims to return capital to shareholders in fiscal 2019 as well.

A few other stocks in the auto space are Allison Transmission Holdings, Inc. ALSN, Advance Auto Parts, Inc. AAP and AB Volvo VLVLY. The long-term growth rate of Allison Transmission, Advance Auto and Volvo are 10%, 12.3% and 15%, respectively.

Today's Stocks from Zacks' Hottest Strategies

It's hard to believe, even for us at Zacks. But while the market gained +21.9% in 2017, our top stock-picking screens have returned +115.0%, +109.3%, +104.9%, +98.6%, and +67.1%.

And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - 2017, the composite yearly average gain for these strategies has beaten the market more than 19X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.

See Them Free>>
 


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
 
Advance Auto Parts, Inc. (AAP) : Free Stock Analysis Report
 
Allison Transmission Holdings, Inc. (ALSN) : Free Stock Analysis Report
 
AB Volvo (VLVLY) : Free Stock Analysis Report
 
Thor Industries, Inc. (THO) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research

Advertisement