Snap-On Incorporated (NYSE:SNA) Declares Quarterly Dividend of $2.44

Snap-On Incorporated (NYSE:SNA) announced a quarterly dividend on Thursday, August 6th. Shareholders of record on Wednesday, August 19th will be given a dividend of 2.44 per share on Thursday, September 10th. This represents a c) annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Wednesday, August 19th.

Snap-On has raised its dividend by an average of 0.1%annually over the last three years and has increased its dividend every year for the last 15 years. Snap-On has a dividend payout ratio of 48.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Snap-On to earn $21.13 per share next year, which means the company should continue to be able to cover its $9.76 annual dividend with an expected future payout ratio of 46.2%.

Snap-On Stock Performance

Shares of SNA stock opened at $414.70 on Friday. The company has a current ratio of 3.43, a quick ratio of 2.64 and a debt-to-equity ratio of 0.15. The company has a market cap of $21.45 billion, a PE ratio of 21.15, a P/E/G ratio of 2.95 and a beta of 0.73. The company’s fifty day simple moving average is $398.01 and its 200-day simple moving average is $381.99. Snap-On has a 52 week low of $319.20 and a 52 week high of $423.02.

Snap-On (NYSE:SNA) last released its quarterly earnings data on Thursday, July 23rd. The company reported $4.96 EPS for the quarter, beating the consensus estimate of $4.95 by $0.01. Snap-On had a return on equity of 17.07% and a net margin of 21.25%.The company had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same period last year, the company posted $4.72 earnings per share. The firm’s revenue was up 4.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Snap-On will post 19.7 EPS for the current year.

Snap-On declared that its board has approved a stock repurchase program on Thursday, April 30th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 2.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

Snap-On Company Profile

Snap‑On Incorporated (NYSE: SNA) is a designer, manufacturer and marketer of tools, diagnostic equipment, repair information and shop equipment for professional users. The company’s product range includes hand and power tools, tool storage and cabinets, diagnostic scan tools and software, shop equipment such as lifts and tire changers, and specialized specialty tools for automotive, aviation, marine and industrial applications. Snap‑On also offers information and workflow solutions that combine diagnostic data, repair procedures and parts information to support professional technicians.

Founded in 1920 and headquartered in Kenosha, Wisconsin, Snap‑On has established a long history in the professional tools market.