Greenbrier announced a dividend increase of 11% and these 10 other industrial companies announced similar plans last quarter Q2 FY 2023
Buybacks
July 25, 2023
The Greenbrier Companies, Inc. recently announced Greenbrier's financial results for the third fiscal quarter ending on May 31, 2023. Greenbrier reported impressive performance, including new railcar orders totaling 4,600 units valued at $650 million and deliveries of 6,600 units. Additionally, subsequent to the quarter's end, Greenbrier received orders for 7,900 units valued at $975 million. The strong quarter-end liquidity of $665 million, including $321 million in cash and $344 million of available borrowing capacity, reflects Greenbrier's financial strength.
One significant highlight is the 11% increase in the quarterly dividend by the Board to $0.30 per share, payable on August 8, 2023, to shareholders of record as of July 18, 2023. This marks Greenbrier's 37th consecutive quarterly dividend. The dividend increase can be attributed to Greenbrier's robust operating momentum, strong commercial activity, and the early impact of operational initiatives presented during Greenbrier's Investor Day in April. Manufacturing efficiencies achieved ahead of plan and a new railcar backlog valued at $2.9 billion further support the decision to increase the dividend.
During Greenbrier's Investor Day, Greenbrier unveiled long-term financial targets, including a +100% growth in annual recurring revenue from its Leasing & Management Services segment, an aggregate gross margin in the mid-teens by fiscal 2026, and a return on invested capital of 10% to 14% by fiscal 2026. With current trends and production schedules, Greenbrier projects deliveries of 25,000 to 26,000 units for fiscal 2023 and revenue of $3.8 billion to $3.9 billion.
The Greenbrier Companies, Inc. is a leading railroad freight car equipment company operating in North America, Europe, and South America. Greenbrier is divided into three segments: Manufacturing, which offers a wide range of railcars and marine vessels; Wheels, Repair & Parts, providing wheel services, railcar repair, and manufacturing of various railcar components; and Leasing & Services, offering railcar leasing, maintenance management, and logistics services. Founded in 1974 and based in Lake Oswego, Oregon, Greenbrier serves a diverse clientele, including railroads, leasing companies, financial institutions, shippers, carriers, and transportation companies, with an extensive fleet of railcars.
Smith & Wesson Brands, Inc. recently revealed its financial results for the fourth quarter and full fiscal year 2023, concluding on April 30, 2023. Despite a challenging year, Smith & Wesson Brands managed to achieve positive outcomes in the fourth quarter as headwinds from elevated channel inventory subsided. This success was attributed to effective consumer promotions, leading to a significant reduction in retail and distributor inventories. Smith & Wesson Brands' leadership position in the firearm consumer market remained strong, and it anticipates continued success throughout fiscal 2024.
Due to the encouraging developments and the decline in inventory levels, Smith & Wesson Brands decided to increase Smith & Wesson Brands' dividend. The Board of Directors authorized a quarterly dividend of $0.12 per share, which will be paid to stockholders of record on July 13, 2023, with payment scheduled for July 27, 2023. This decision reflects Smith & Wesson Brands' confidence in Smith & Wesson Brands' financial performance and future prospects.
Furthermore, the anticipated consumer demand in fiscal 2024 is expected to resemble that of fiscal 2023, and Smith & Wesson Brands is poised to increase Smith & Wesson Brands' shipments after experiencing a significant decline in inventory during the first half of the prior fiscal year. These factors likely contributed to the board's decision to raise Smith & Wesson Brands' dividend, signaling a positive outlook for Smith & Wesson Brands and Smith & Wesson Brands' dividend prospects.
Smith & Wesson Brands, Inc., formerly American Outdoor Brands Corporation, is a manufacturer of firearms and a provider of accessory products for the shooting, hunting, and outdoor enthusiast. Smith & Wesson Brands, Inc. operates through two segments. The Firearms segment manufactures handgun and long gun products sold under the Smith & Wesson, M&P, and Thompson/Center Arms brands, as well as providing forging, machining, and precision plastic injection molding services. The Outdoor Products & Accessories segment provides shooting, hunting, and outdoor accessories, including reloading, gunsmithing, gun cleaning supplies, tree saws, vault accessories, knives, laser sighting systems, and tactical lighting products. Brands in Outdoor Products & Accessories include Crimson Trace, Caldwell Shooting Supplies, Wheeler Engineering, Lockdown Vault Accessories, BOG POD, and Golden Rod Moisture Control, as well as knives and specialty tools under Schrade, Old Timer, Uncle Henry, and Imperial.
Comfort Systems USA, Inc. (ticker symbol: FIX) has recently taken a positive step by increasing Comfort Systems USA, Inc.'s dividend payout. Comfort Systems USA, Inc., a prominent player in the commercial, industrial, and institutional heating, ventilation, air conditioning, and electrical contracting services, has declared a quarterly dividend of $0.20 per share. This represents a notable increase of $0.025 from Comfort Systems USA, Inc.'s previous dividend.
The decision to raise Comfort Systems USA, Inc.'s dividend can be attributed to several factors. Comfort Systems USA, Inc. has likely experienced significant growth and financial success, allowing Comfort Systems USA, Inc. to reward Comfort Systems USA, Inc.'s shareholders with a more substantial dividend. Additionally, positive developments in Comfort Systems USA, Inc.'s financial health and business outlook may have instilled confidence in Comfort Systems USA, Inc.'s board of directors, prompting them to increase Comfort Systems USA, Inc.'s dividend payout.
Comfort Systems USA, Inc. is a leading provider of mechanical and electrical services in the United States. With a history dating back to 1917, Comfort Systems USA, Inc. specializes in the design, installation, and maintenance of mechanical, electrical, and plumbing (MEP) systems for a wide range of industries, including commercial, industrial, healthcare, education, and government facilities. Comfort Systems USA, Inc.'s comprehensive services cover HVAC systems, plumbing, electrical, and fire protection, serving building owners, developers, contractors, architects, and property managers across the nation. Headquartered in Houston, Texas, Comfort Systems USA, Inc. has established itself as a reliable and trusted name in the industry.
Advanced Drainage Systems, Inc. recently announced a 17% increase in Advanced Drainage Systems, Inc.'s total annual cash dividend to shareholders, amounting to $0.56 per share. This decision reflects Advanced Drainage Systems, Inc.'s strong financial performance and commitment to providing value to Advanced Drainage Systems, Inc.'s investors.
According to Scott Barbour, the President, and CEO of Advanced Drainage Systems, Inc., this dividend increase is driven by several factors. Firstly, Advanced Drainage Systems, Inc. boasts a robust balance sheet and generates substantial cash flow, providing a solid foundation for rewarding shareholders. Secondly, Advanced Drainage Systems, Inc.'s relentless pursuit of operational excellence allows Advanced Drainage Systems, Inc. to capitalize on opportunities while effectively managing costs. These combined factors instill confidence in Advanced Drainage Systems, Inc.'s ability to return excess cash to shareholders while still strategically investing in the growth of the business.
This dividend increase comes as no surprise given Advanced Drainage Systems, Inc.'s focus on innovation and expertise in the stormwater and on-site septic wastewater industries. The market has responded positively to Advanced Drainage Systems, Inc.'s efforts, with the stock experiencing a 0.96% increase recently. Additionally, with the quarterly cash dividend of $0.14 per share set to be paid soon, shareholders have a tangible incentive to remain invested in this promising company.
Advanced Drainage Systems, Inc. is a leading provider of thermoplastic corrugated pipes and water management solutions for underground construction and infrastructure projects. With a wide range of products, including polypropylene and polyethylene pipes, storm retention systems, drainage structures, and geotextile products, Advanced Drainage Systems, Inc. serves customers in the United States, Canada, and internationally. Established in 1966 and based in Hilliard, Ohio, Advanced Drainage Systems, Inc. operates through a vast distribution network spanning approximately 80 countries, catering to non-residential, residential, agriculture, and infrastructure applications.
The Brink's Company (BCO), a global leader in total cash management, route-based secure logistics, and payment solutions, recently delighted its shareholders by announcing a 10% increase in The Brink's Company's regular quarterly dividend. The dividend has been raised from 20 cents per share to 22 cents per share, a move that signifies The Brink's Company's strong performance in 2022, stable financial position, and positive business outlook. This is the first dividend increase since 2021, highlighting The Brink's Company's commitment to delivering long-term shareholder value.
Mark Eubanks, the President, and CEO of The Brink's Company, expressed his optimism about The Brink's Company's prospects and The Brink's Company's dedication to responsible capital allocation. The decision to increase the dividend is part of The Brink's Company's broader capital allocation framework, which also includes a stock buyback program. By returning excess cash to its shareholders through these measures, The Brink's Company aims to reward its investors and reinforce their trust in The Brink's Company's future growth.
The Brink's Company is a leading provider of secure transportation, cash management, and security-related services worldwide. With a rich history dating back to 1859, The Brink's Company offers a range of solutions, including armored vehicle transportation, ATM services, vault outsourcing, money processing, and technology applications. The Brink's Company caters to various industries such as banks, retailers, government agencies, jewelers, and more. Based in Richmond, Virginia, The Brink's Company also specializes in security system design, installation, monitoring, and guarding services for airports, offices, warehouses, stores, and public venues.
The Timken Company, a global leader in engineered bearings and industrial motion products, recently approved a 6 percent increase in its quarterly cash dividend, raising it to 33 cents per share. This decision reflects The Timken Company's consistently strong financial performance and its positive outlook for the future. The dividend increase is a testament to The Timken Company's commitment to its shareholders and its disciplined capital allocation strategy.
According to Richard G. Kyle, The Timken Company's president, and CEO, the dividend increase is a result of The Timken Company's confidence in its long-term prospects and its dedication to consistently growing the dividend. This move is part of The Timken Company's tradition of paying dividends on its common shares every quarter since its listing on the New York Stock Exchange (NYSE) in 1922, making it one of the companies with the longest-running dividend streaks on the NYSE.
The Timken Company is a global leader in designing, manufacturing, and managing engineered bearings and power transmission products. The Timken Company operates in two segments, Mobile Industries, and Process Industries, offering a wide range of products and services to original equipment manufacturers (OEMs) and end-users in various markets, including off-highway equipment, on-highway vehicles, rail cars, and aircraft. The Timken Company also supplies industrial bearings, power transmission components, and linear motion products to different industries. With a rich history since its founding in 1899, The Timken Company continues to provide high-quality solutions under various well-known brands from its headquarters in North Canton, Ohio.
Avery Dennison Corporation has recently made an exciting move by increasing its quarterly dividend. Avery Dennison Corporation's Board of Directors declared a dividend of $0.81 per share, marking a notable 8% increase from the previous rate. This decision reflects Avery Dennison Corporation's positive financial performance and management's confidence in its future prospects.
The dividend increase could be attributed to several factors. Firstly, Avery Dennison Corporation may have experienced steady revenue growth and profitability, allowing Avery Dennison Corporation to distribute more profits to its shareholders. Additionally, Avery Dennison Corporation's prudent cost management and operational efficiency might have contributed to the surplus funds available for dividends.
Avery Dennison Corporation is a global leader in producing and selling pressure-sensitive materials. Avery Dennison Corporation's Label and Graphic Materials segment offers a wide range of pressure-sensitive label and packaging materials, graphics, and reflective products under various well-known brands. Avery Dennison Corporation serves diverse markets, including home and personal care, beverage, pharmaceutical, automotive, and more, catering to sign shops, commercial printers, designers, and industrial clients. Additionally, Avery Dennison Corporation's Retail Branding and Information Solutions segment provides brand embellishments, RFID solutions, visibility and loss prevention solutions, and sustainable packaging options to retailers, brand owners, and apparel manufacturers. Avery Dennison Corporation's Industrial and Healthcare Materials segment offers tapes, adhesive-based materials, medical fasteners, and performance polymers for various industries. Founded in 1935 and headquartered in Glendale, California, Avery Dennison Corporation continues to have a rich history of innovation and growth.
We are excited to share some positive news about Northrop Grumman Corporation (NOC) as they recently declared an 8 percent increase in their quarterly dividend, amounting to $1.87 per share on Northrop Grumman common stock. This decision marks Northrop Grumman's 20th consecutive annual dividend increase, a testament to their commitment to shareholders. Kathy Warden, Northrop Grumman's chair, chief executive officer, and president, emphasized their disciplined and balanced approach to capital deployment. They prioritize providing sustainable and growing dividends for shareholders while also investing in their business to support customers.
Northrop Grumman is a renowned global aerospace and defense technology company, offering innovative solutions that empower customers to connect and protect the world, pushing the boundaries of human exploration. With a team of 95,000 dedicated employees, their mission revolves around solving the toughest problems their customers face, ultimately defining what is possible every day.
Northrop Grumman Corporation is a leading security company, delivering a wide range of autonomous systems, cyber, space, strike, and logistics solutions, along with command, control, communications, and intelligence capabilities to customers worldwide. Northrop Grumman operates through Aeronautics Systems, Defense Systems, Mission Systems, and Space Systems segments, designing and producing various manned and autonomous aircraft, spacecraft systems, high-energy laser systems, and microelectronics. Additionally, Northrop Grumman offers essential space components and services, radar and electronic warfare systems, navigation systems, and cyber solutions. With a history dating back to 1939, Northrop Grumman continues to enable national security, civil government, and commercial customers in fulfilling critical missions through their innovative products and services.
AGCO, a leading global agricultural machinery and precision ag technology company, recently reported robust financial results for the first quarter of 2023. AGCO's net sales increased by approximately 24.1% compared to the same period in 2022, driven by strong performance in various regions like Europe/Middle East, North America, and South America. AGCO's successful execution of its strategy, focused on growing the precision ag business and expanding its product lines, contributed to these excellent results.
Moreover, AGCO's order board remains extended, indicating a high demand for its products and a positive outlook for the large agricultural equipment industry. AGCO's chairman, Eric Hansotia, highlighted the continued support of healthy farm economics and the stabilizing supply chain in boosting their first-quarter performance.
In addition to the financial results, AGCO recently published its 2022 Sustainability Report, highlighting significant progress on environmental, social, and governance issues. AGCO's commitment to sustainability and innovation to improve outcomes for farmers adds to its positive outlook.
As a testament to AGCO's strong financial performance and positive prospects, AGCO declared a variable special dividend of $5.00 per share and increased its quarterly dividend by 21% to $0.29 per share, both payable in June. The dividend increase reflects AGCO's confidence in its future growth and commitment to rewarding shareholders.
AGCO Corporation is a global leader in manufacturing and distributing agricultural equipment and replacement parts. AGCO offers a diverse range of products, including high horsepower tractors for various farming operations, utility tractors for small to medium-sized farms and specialty industries, compact tractors for residential and equestrian uses, and a wide array of equipment for grain storage, seed processing, feed storage and delivery, ventilation, and egg production systems. AGCO's product lineup also includes implements for soil preparation, planting, and harvesting, along with application equipment for fertilizers and crop protection chemicals. AGCO markets its products under renowned brands like Challenger, Fendt, GSI, Massey Ferguson, and Valtra and operates through a vast network of independent dealers and distributors worldwide. Founded in 1990, AGCO Corporation's headquarters are based in Duluth, Georgia.
Information Services Group, Inc. (ISG), a leading global technology research and advisory firm, has recently announced its financial results for the first quarter of 2023, with record revenues and adjusted EBITDA. The impressive performance is attributed to clients' trust and confidence in ISG to maximize the value of their digital investments. ISG's robust start to the year saw a 17 percent topline growth in the Americas and a 27 percent growth in recurring revenues year over year.
The success can be attributed to ISG's portfolio of digital transformation, digital sourcing, and cost optimization services, bolstered by proprietary research and SaaS platforms, which provide a winning combination for their clients. Despite some challenges, such as currency translation impacts, ISG remains optimistic about its future growth prospects.
In line with its commitment to disciplined capital allocation, ISG has increased its quarterly dividend by 12.5 percent, from $0.04 per share to $0.045 per share. This decision reflects ISG's confidence in its financial performance and prospects, and it aligns with its strategy of returning capital to shareholders while reinvesting in the business for continued growth.
ISG has also launched Phase II of its ISG NEXT operating model, aiming to expand its adjusted EBITDA margin by 200 basis points and accelerate recurring revenues to $150 million by the end of 2025. Information Services Group plans to achieve this by focusing on growing its research and platform-based revenue streams and expanding its suite of digital solutions to meet market demand.
Headquartered in Stamford, Connecticut, Information Services Group, Inc. is a leading provider of fact-based sourcing advisory services. With a team of 1,310 full-time employees, Information Services Group supports both private and public sector organizations in transforming and optimizing their operational environments. ISG's service lines encompass research, consulting, managed services, network carrier services, robotic process automation (RPA), outsourcing advisory, and provider services. Specializing in digital transformation services such as automation, cloud, and data analytics, ISG also offers managed governance and risk services, technology strategy, change management, and technology research and analysis.
Johnson Controls International plc recently announced a positive development for its shareholders. Johnson Controls's board of directors approved a 1-cent increase in Johnson Controls International plc's quarterly dividend, bringing it to $.37 per share of common stock. This marks another milestone for Johnson Controls International plc, which has been consistently paying dividends to its shareholders since an impressive streak dating back to 1887.
The decision to increase the dividend reflects Johnson Controls International plc's strong financial performance and its commitment to rewarding its loyal shareholders. Johnson Controls International plc's status as a leading player in the industry and its focus on innovation in smart and sustainable building solutions have likely contributed to its financial stability and growth. This increase in dividend is a testament to Johnson Controls International plc's confidence in its future prospects and its dedication to providing value to its investors.
Johnson Controls International plc is a global diversified technology and multi-industrial company specializing in building solutions, heating, ventilating, and air conditioning systems, as well as integrated electronic security and fire detection systems for various customers, including commercial, industrial, retail, and governmental sectors. Johnson Controls International plc also offers energy efficiency solutions and technical services for non-residential buildings and industrial applications. Additionally, Johnson Controls manufactures heating and air conditioning products for residential and commercial use, as well as fire protection and security products for a wide range of customers. Established in 1885 and headquartered in Cork, Ireland, Johnson Controls International plc was formerly known as Johnson Controls, Inc. before adopting its current name in September 2016.
Paychex, Inc. has recently approved a significant dividend increase of 13 percent, raising the regular quarterly dividend from $.79 per share to $.89 per share. This decision reflects Paychex, Inc.'s robust financial standing and confidence in its ability to create shareholder value while investing in future growth opportunities. The increased dividend is set to be payable on May 25, 2023, to shareholders of record on May 11, 2023.
Paychex's President and CEO, John Gibson, emphasized the board's commitment to consistently returning capital to shareholders through dividends and stock buybacks. Paychex, Inc.'s strong cash flow generation and financial performance have positioned Paychex well to continue rewarding shareholders while strategically investing in its business.
Paychex, Inc. is a leading provider of payroll, human resources, and benefits outsourcing solutions for small- to medium-sized businesses (SMBs) in the United States and Europe. Established in 1971 and headquartered in Rochester, New York, Paychex, Inc. serves over 700,000 clients across various industries. Paychex's comprehensive suite of services includes payroll processing, time and attendance tracking, retirement plan administration, human resource consulting, insurance services, and other business solutions. Paychex, Inc. prides itself on its user-friendly technology platforms and dedicated customer service, enabling businesses to efficiently manage their workforce and stay compliant with regulations.
Alldata was sourced from LevelFields AI
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