UFP Industries, Inc. (NASDAQ:UFPI) Plans $0.36 Quarterly Dividend

UFP Industries, Inc. (NASDAQ:UFPI) declared a quarterly dividend on Wednesday, April 22nd. Investors of record on Monday, June 1st will be paid a dividend of 0.36 per share by the construction company on Monday, June 15th. This represents a c) dividend on an annualized basis and a yield of 1.5%. The ex-dividend date is Monday, June 1st.

UFP Industries has raised its dividend by an average of 0.2%per year over the last three years and has increased its dividend every year for the last 5 years. UFP Industries has a payout ratio of 21.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect UFP Industries to earn $5.90 per share next year, which means the company should continue to be able to cover its $1.44 annual dividend with an expected future payout ratio of 24.4%.

UFP Industries Stock Down 1.5%

UFPI traded down $1.42 during trading on Friday, reaching $95.06. 127,022 shares of the stock were exchanged, compared to its average volume of 370,185. The stock has a market cap of $5.40 billion, a P/E ratio of 19.04 and a beta of 1.44. UFP Industries has a twelve month low of $84.82 and a twelve month high of $118.00. The stock’s 50 day moving average price is $96.49 and its two-hundred day moving average price is $96.14. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.13 and a current ratio of 4.59.

UFP Industries (NASDAQ:UFPI) last issued its earnings results on Monday, February 23rd. The construction company reported $0.70 earnings per share for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.33). UFP Industries had a return on equity of 9.27% and a net margin of 4.66%.The firm had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same quarter in the previous year, the firm posted $1.12 earnings per share. UFP Industries’s quarterly revenue was down 9.0% on a year-over-year basis. Equities analysts expect that UFP Industries will post 5.19 EPS for the current year.

About UFP Industries

UFP Industries, Inc, founded in 1955 and headquartered in Grand Rapids, Michigan, designs, manufactures, and distributes a broad range of wood and wood-alternative products. The company operates through two primary segments: UFP Retail Solutions, which supplies building materials and components to home improvement retailers and lumber dealers, and UFP Distribution Solutions, which offers packaging, pallets, skids, and other industrial products for a variety of end markets. Its product portfolio includes treated and untreated lumber, engineered wood, decking, railing, fencing, vinyl sheets and profiles, and custom-designed packaging solutions.

With manufacturing facilities and distribution centers across the United States, Canada, Mexico and Europe, UFP Industries serves professional contractors, industrial customers, and do-it-yourself consumers.