Riding the Profit Wave: 11 Consumer Cyclical Companies Unveil Huge Dividend Increases Last Quarter
Dividends
October 13, 2023
Ethan Allen Interiors Inc. recently unveiled its fiscal year 2023 financial results, demonstrating a robust performance in a challenging economic climate. Ethan Allen Interiors's consolidated net sales totaled $791.4 million, with a gross margin of 60.7% and an adjusted operating margin of 16.9%. Notably, they reported adjusted diluted earnings per share (EPS) of $4.03, marking an increase of 2.5%. Despite the hurdles of a slower economy and shifting consumer focus post-COVID-19, Ethan Allen's proactive measures over the past three years are commendable.
Ethan Allen's commitment to fortifying its vertically integrated structure is paying dividends, as evidenced by the recent announcement of a special cash dividend of $0.50 per share, along with the regular quarterly cash dividend of $0.36 per share, both payable on August 31, 2023. These dividend increases signify Ethan Allen Interiors's confidence in its financial position and long-term growth prospects.
As Ethan Allen Interiors navigates the evolving landscape, its focus remains on strengthening its team, expanding product offerings, and enhancing its retail network, backed by strategic investments in technology. The market recognizes Ethan Allen's resilience and vision, as it was named one of America's Top 10 Retailers by Newsweek, underscoring its prominence in the premium furniture sector. With a strong balance sheet, prudent financial management, and continued growth initiatives, Ethan Allen appears poised for a promising future, potentially translating into favorable prospects for its stock and dividends.
Ethan Allen Interiors Inc. operates as an interior design company, and manufacturer and retailer of home furnishings in the United States, Mexico, Honduras, and Canada. Ethan Allen Interiors operates in two segments, Wholesale and Retail. Its products include case goods items, such as beds, dressers, armoires, tables, chairs, buffets, entertainment units, home office furniture, and wooden accents; upholstery items comprising sleepers, recliners and other motion furniture, chairs, ottomans, custom pillows, sofas, loveseats, cut fabrics, and leather; and home accent items consisting of window treatments and drapery hardware, wall decors, florals, lighting, clocks, mattresses, bedspreads, throws, pillows, decorative accents, area rugs, wall coverings, and home and garden furnishings. Ethan Allen Interiors markets and sells its products under the Ethan Allen brand through home furnishing retail networks and independent retailers, as well as through ethanallen.com website. As of June 30, 2021, it operated a network of approximately 302 design centers. Ethan Allen Interiors Inc. was founded in 1932 and is headquartered in Danbury, Connecticut.
H&R Block, Inc. (HRB) recently reported strong financial results for the fiscal year ending June 30, 2023, with notable achievements. Their full-year revenue grew by 0.3% to reach $3.5 billion, while earnings per share from continuing operations showed impressive growth of 9%, reaching $3.56. Furthermore, adjusted earnings per share from continuing operations also increased by 9%, reaching $3.82.
One noteworthy development is H&R Block's decision to increase its quarterly dividend by 10%, now at $0.32 per share. This reflects the Board's confidence in the business. In addition to this, H&R Block has consistently demonstrated a commitment to returning value to shareholders. Since 2016, they have repurchased 37% of their own shares and have increased the dividend by an impressive 60%.
H&R Block's strong financial performance can be attributed to various factors, including their successful DIY strategy, pricing power in the Assisted channel, positive customer satisfaction metrics, and the growth of their Small Business segment. H&R Block's outlook for fiscal year 2024 anticipates further growth in revenue, EBITDA, and adjusted earnings per share. With a history of solid financial results and a commitment to shareholder value, HRB appears to be in a favorable position for the future, making it an attractive prospect for investors seeking stable dividends and growth potential.
H&R Block, Inc., through its subsidiaries, provides assisted income tax return preparation, do-it-yourself (DIY) tax, and virtual tax preparation services and products to the general public primarily in the United States, Canada, and Australia. H&R Block offers assisted income tax return preparation and related services through a system of retail offices operated directly by H&R Block or by franchisees. It also develops and markets DIY income tax preparation software online, as well as through third-party retail stores and direct mail; and provides DIY tax services, including federal and state income tax returns, access to tax tips, advice and tax-related news, use of calculators for tax planning, and error checking and electronic filing. In addition, H&R Block offers Refund Transfers and H&R Block Emerald Prepaid Mastercard, which enables clients to receive their tax refunds; Peace of Mind extended service plans; H&R Block Emerald Advance lines of credit; Tax Identity Shield that provides clients assistance in helping protect their tax identity and access to services to help restore their tax identity; refund advance loans; H&R Block Instant Refund; and H&R Block Pay With Refund services. Further, it provides small business financial solutions through its company-owned or franchise offices, and online. H&R Block, Inc. was founded in 1955 and is headquartered in Kansas City, Missouri.
Johnson Outdoors Inc. (JOUT) is making waves in the outdoor recreation industry with its recent dividend increase. Johnson Outdoors, known for its innovative outdoor equipment and technology, has announced a boost in its quarterly cash dividend, now standing at $0.33 per Class A share and $0.30 per Class B share. What's driving this dividend hike? According to David W. Johnson, the Vice President and Chief Financial Officer, it's a testament to Johnson Outdoors's robust financial position, underscored by a strong balance sheet and a debt-free status. This move reflects the unwavering confidence in their business and strategic plans.
The news comes as a reassuring development for JOUT investors, with the dividend payable on October 27, 2023. This increase not only indicates a financially sound enterprise but also suggests a positive outlook for the stock. For investors, it's a strong signal of Johnson Outdoors' promising future in the outdoor recreation market, making it a company worth keeping an eye on for its dividend prospects and overall stock performance.
Johnson Outdoors, Inc. engages in the manufacturing and marketing of seasonal, outdoor recreation products. Johnson Outdoors is headquartered in Racine, Wisconsin and currently employs 1,200 full-time employees. The firm operates through four segments: Marine Electronics, Outdoor Equipment, Watercraft and Diving. Its Marine Electronics segment''s brands are Minn Kota, Humminbird and Cannon. Its Outdoor Equipment segment''s brands are Eureka!, Jetboil and Silva. Its Watercraft segment designs and markets Necky sea touring kayaks; sit on top Ocean Kayaks, and Old Town canoes and kayaks for family recreation, touring, angling and tripping. The firm manufactures and markets underwater diving products for recreational divers, which it sells and distributes under the SCUBAPRO brand name. Johnson Outdoors markets a line of underwater diving and snorkeling equipment, including regulators, buoyancy compensators, dive computers and gauges, wetsuits, masks, fins, snorkels and accessories. The firm''s products are used for fishing from a boat, diving, paddling, hiking and camping.
Shoe Carnival, Inc. (Nasdaq: SCVL), a prominent name in the world of footwear and family accessories, recently delighted its investors by boosting its quarterly cash dividend to $0.12 per share, a substantial 20 percent increase from the previous $0.10 per share. This generous dividend hike comes as a testament to Shoe Carnival’s steadfast financial strength, with a remarkable 46 consecutive quarters of dividend payments. Mark Worden, Shoe Carnival’s President and CEO, emphasized the decision's confidence in sustaining shareholder returns while fostering business growth, driven by robust cash flow and a debt-free balance sheet.
The move is a reflection of Shoe Carnival's commitment to shareholder value and growth prospects. As Shoe Carnival continues to deliver strong financial performance and remains debt-free, investors can anticipate a bright future, with the dividend increase serving as a vote of confidence from the Board of Directors. While future dividend declarations depend on operational results and market conditions, this increase demonstrates Shoe Carnival's intent to balance returns to shareholders with strategic investments for continued success in the footwear and accessories market. Investors may find this development a compelling reason to keep an eye on SCVL's stock and its promising dividend prospects.
Shoe Carnival, Inc., together with its subsidiaries, operates as a family footwear retailer in the United States. Shoe Carnival offers various dress, casual, and athletic footwear products for men, women, and children; and accessories, such as socks, belts, shoe care items, handbags, sport bags, backpacks, and wallets. As of February 1, 2020, it operated 392 stores in 35 states and Puerto Rico. Shoe Carnival also sells its products through online shopping at shoecarnival.com. Shoe Carnival, Inc. was founded in 1978 and is based in Evansville, Indiana.
KB Home, a leading player in the housing industry, recently made a significant move by increasing its quarterly cash dividend by 33%, now offering investors a generous $.20 per share, up from $.15 per share. This boost results in an annualized dividend rate of $.80 per share, providing a 1.5% yield. The decision to increase dividends is rooted in KB Home's robust cash flow generation and its plans for expanding operations, capital allocation, and shareholder returns.
KB Home's Chairman, President, and CEO, Jeffrey Mezger, emphasized that their strong balance sheet and cash generation capabilities, coupled with a commitment to long-term shareholder value, have driven this dividend increment. KB Home's prudent strategy of combining land acquisition and development with returning capital to its stockholders underscores its commitment to sustained growth and value creation. As investors eye this dividend boost, it showcases KB Home's confidence in its future prospects and its efforts to reward its shareholders, making KB Home a stock to watch for dividend-seeking investors in the housing sector.
KB Home operates as a homebuilding company in the United States. It operates through four segments: West Coast, Southwest, Central, and Southeast. KB Home builds and sells various homes, including attached and detached single-family residential homes, townhomes, and condominiums primarily for first-time, first move-up, second move-up, and active adult homebuyers. It also offers financial services, such as insurance products and title services. It has operations in Arizona, California, Colorado, Florida, Nevada, North Carolina, Texas, and Washington. KB Home was formerly known as Kaufman and Broad Home Corporation and changed its name to KB Home in January 2001. KB Home was founded in 1957 and is headquartered in Los Angeles, California.
M.D.C. Holdings, Inc. (MDC), a prominent player in the homebuilding industry, recently delighted its investors by increasing its quarterly cash dividend by 10%. This generous move, which raised the dividend from $0.50 to $0.55 per share on MDC's common stock, reflects M.D.C. Holdings's commitment to delivering value to its shareholders. The decision is underpinned by M.D.C. Holdings's strong financial performance and its confidence in the real estate market.
Several factors have contributed to MDC's dividend boost. M.D.C. Holdings's stellar financial results and robust homebuilding activities have fortified its cash position. Furthermore, MDC has likely considered the growing demand for homes and the overall stability in the housing market, which has created a favorable environment for M.D.C. Holdings's business. This dividend increase not only rewards shareholders but also underscores MDC's positive outlook for the future. Investors may find this development enticing, as it suggests strong dividend prospects and underscores MDC's sound position in the homebuilding industry.
M.D.C. Holdings, Inc., through its subsidiaries, engages in the homebuilding and financial service businesses. Its homebuilding operations include purchasing finished lots or developing lots for the construction and sale primarily of single-family detached homes to first-time and first-time move-up homebuyers under the Richmond American Homes name. M.D.C. Holdings conducts its homebuilding operations in Arizona, California, Nevada, Washington, Oregon, Colorado, Utah, Virginia, Maryland, and Florida. Its financial services operations comprise originating mortgage loans primarily for homebuyers; providing insurance coverage primarily to its homebuilding subsidiaries and subcontractors for homes sold by its homebuilding subsidiaries, and for work performed in completed subdivisions; acting as a re-insurer on the claims; selling third-party personal property and casualty insurance products to homebuyers; and offering title agency services to homebuilding subsidiaries and customers in Colorado, Florida, Maryland, Nevada, and Virginia. M.D.C. Holdings was founded in 1972 and is headquartered in Denver, Colorado.
Rush Enterprises, Inc. (NASDAQ: RUSHA & RUSHB), the North American commercial vehicle dealership giant, has reported impressive financial results for Q2 2023, with revenues surging to $2.003 billion and a net income of $98.3 million, translating to $1.75 per diluted share. These results were driven by robust demand for Class 8 and Class 4-7 commercial vehicles and strong aftermarket demand, especially from national accounts and vocational fleets. Rush Enterprises's acquisition of an additional 30% interest in Rush Truck Centres of Canada Limited, which resulted in a $9.8 million gain, also contributed to these positive numbers.
In addition to these stellar results, Rush Enterprises, Inc. made significant announcements regarding its stock and dividends. Rush Enterprises's Board of Directors declared a three-for-two stock split for its Class A and Class B common stock, which will be executed as a stock dividend on August 28, 2023. This move will substantially increase the number of outstanding shares for both classes. Furthermore, Rush Enterprises increased its cash dividend to $0.17 per share of Class A and Class B common stock, to be paid on September 22, 2023, representing a remarkable 21.4% increase from the previous quarter. The CEO, W.M. “Rusty” Rush, expressed Rush Enterprises's commitment to returning capital to shareholders.
The solid financial performance and these strategic moves signal a positive outlook for Rush Enterprises, Inc. in 2023. Rush Enterprises remains focused on operational excellence and expansion, capitalizing on the demand for commercial vehicles, even in challenging market conditions. With increasing truck production and continued growth in the aftermarket segment, Rush Enterprises is poised for a strong year ahead, with its shareholders set to benefit from the enhanced dividends following the stock split.
Rush Enterprises, Inc. is a leading integrated commercial vehicle retailer and service provider in the United States. Operating under the Rush Truck Centers brand, they offer a wide range of commercial vehicles, parts, and services, as well as insurance options to customers. Additionally, they provide equipment installation and repair, vehicle modification, and natural gas fuel system services. Serving a diverse clientele, including truck fleets, corporations, and governments, Rush Enterprises boasts a nationwide network of centers across numerous states. Established in 1965, Rush Enterprises is headquartered in New Braunfels, Texas.
Greif, Inc. (GEF, GEF.B))), a global industrial packaging leader, recently announced a substantial increase in its quarterly dividends, demonstrating their unwavering commitment to shareholders. Greif's Board of Directors has declared $0.52 per share for Class A Common Stock and $0.78 per share for Class B Common Stock. This marks a promising move by Greif, aligning with their dedication to delivering value derived from their strong free cash flow generation directly to their investors.
Larry Hilsheimer, Greif's Executive Vice President and Chief Financial Officer, expressed enthusiasm regarding the dividend hike, emphasizing its integral role in Greif's capital allocation strategy. In addition to future plans for mergers and acquisitions and other growth strategies, Greif continues to prioritize the interests of its shareholders. This move signifies Greif's optimism about its financial stability and growth prospects, making Greif, Inc. an enticing prospect for investors seeking long-term dividend growth and stability.
As dividends are set to be paid on October 2, 2023, to stockholders of record as of September 15, 2023, this development augments Greif's appeal to income-focused investors, underlining Greif's financial strength and dedication to its shareholders.
Penske Automotive Group, Inc. is a diversified transportation services company that operates automotive and commercial truck dealerships under franchise agreements with various manufacturers. Their business is segmented into Retail Automotive, Retail Commercial Truck, Other, and Non-Automotive Investments. They sell new and used motor vehicles, offer related services such as repairs and financing, and run used vehicle supercenters. Additionally, the company is involved in the distribution of heavy-duty trucks, buses, and engines. Headquartered in Bloomfield Hills, Michigan, Penske Automotive Group, Inc. operates 317 retail automotive franchises in the U.S. and internationally, sixteen used vehicle supercenters, and 25 commercial truck dealerships.
Penske Automotive Group, Inc. (PAG), a leading international transportation services and automotive retail giant, has just upped the ante for its shareholders. Penske Automotive Group recently declared an impressive 9% increase in its quarterly dividend, boosting it by $0.06 per share to a total of $0.72 per share. This generous dividend raise can be attributed to Penske's unwavering commitment to its investors, driven by their robust cash flow, strong balance sheet, and stellar operational performance. The dividend payout is scheduled for September 1, 2023, with a record date of August 10, 2023, marking a significant milestone in Penske Automotive Group's mission to reward its loyal shareholders.
Penske Automotive's remarkable financial stability, combined with its dedication to enhancing shareholder value, paints a promising picture for its stock and dividend prospects. This move is a testament to Penske Automotive Group's confidence in its financial health and long-term growth, making PAG an intriguing option for investors seeking consistent returns and a reliable partner in the world of transportation services and automotive retail. Stay tuned for more updates, as Penske Automotive Group continues to steer its course towards a prosperous future.
Penske Automotive Group, Inc. is a diversified transportation services company with four key segments: Retail Automotive, Retail Commercial Truck, Other, and Non-Automotive Investments. They operate numerous automotive and commercial truck dealerships under franchise agreements with various manufacturers, offering new and used vehicle sales, repair services, finance and lease contracts, and aftermarket products. Additionally, Penske Automotive Group manages used vehicle supercenters, heavy and medium duty truck dealerships, and imports and distributes various vehicles and parts. With over 300 retail automotive franchises worldwide, Penske Automotive Group, Inc. has been a prominent player in the industry since its establishment in 1990, headquartered in Bloomfield Hills, Michigan.
Bassett Furniture Industries, Inc. has just made a significant move, boosting its quarterly dividend by 12.5%. Bassett Furniture Industries's decision to increase its dividend can be attributed to its strong financial performance and commitment to rewarding shareholders. With a new quarterly dividend of $0.18 per share of common stock, payable on August 25, 2023, to shareholders of record as of August 11, 2023, Bassett Furniture is showing confidence in its financial health and growth prospects.
This dividend increase may have been influenced by recent positive developments within Bassett Furniture Industries, such as increased sales and profitability. Bassett Furniture's stock and dividend prospects appear promising, reflecting its confidence in maintaining shareholder value. Investors can view this as a positive signal, indicating Bassett Furniture Industries's optimism about its future performance. With a history of providing quality furniture and now an enhanced dividend, Bassett Furniture is likely to remain an attractive option for both investors and furniture enthusiasts.
Bassett Furniture Industries, Incorporated manufactures, markets, and retails home furnishings in the United States and internationally. It operates in three segments: Wholesale, Retail, and Logistical Services. Bassett Furniture Industries engages in the design, manufacture, sourcing, distribution, and sale of furniture products to a network of company-owned and licensee-owned Bassett Home Furnishings retail stores, as well as independent furniture retailers; and wood and upholstery operations. As of January 23, 2020, it operated a network of 103 company- and licensee-owned stores. It also provides shipping, delivery, and warehousing services to customers in the furniture industry. In addition, Bassett Furniture Industries owns and leases retail store properties; and distributes its products through other multi-line furniture stores, Bassett galleries or design centers, specialty stores, and mass merchants. Bassett Furniture Industries, Incorporated was founded in 1902 and is based in Bassett, Virginia.
AptarGroup, Inc. (ATR), a prominent player in drug delivery, consumer product dispensing, and active material science solutions, recently announced a noteworthy development for its shareholders. AptarGroup declared a quarterly cash dividend of $0.41 per share, marking an impressive 8% boost from the previous dividend, resulting in a new annualized dividend of $1.64 per share. This remarkable increase reflects Aptar's robust financial standing and remarkable growth trajectory.
Stephan Tanda, President and CEO of Aptar, shed light on this decision, stating, "In light of our growth momentum, accelerating performance, and strong financial position, the Board of Directors approved an increase in the quarterly dividend. In 2022, we returned more than $190 million to our stockholders through dividends and share repurchases and we are on track for our 30th consecutive year of paying an increasing total annual dividend." This move underscores AptarGroup's commitment to rewarding its investors and underscores its optimistic outlook for the future. Investors can anticipate favorable prospects for AptarGroup, Inc., as it continues to flourish and deliver increased value to its shareholders.
AptarGroup, Inc., founded in 1992 and headquartered in Crystal Lake, Illinois, is a leading provider of packaging, dispensing, and sealing solutions serving diverse markets. AptarGroup operates through three key segments: Beauty + Home, Pharma, and Food + Beverage. The Beauty + Home segment offers products like pumps, closures, and aerosol valves for personal care and home care markets, as well as decorative components for the beauty sector. In the Pharma segment, they provide nasal allergy treatment pumps, inhaler valves for respiratory ailments, and elastomers for injectable primary packaging. Their Food + Beverage segment supplies dispensing and non-dispensing closures, flow control components, and aerosol valves for the food and beverage industry. AptarGroup also manufactures elastomeric primary packaging components for the injectable market. They have a global presence, selling their products through sales forces and distributors across Asia, Europe, Latin America, and North America. AptarGroup has strategic partnerships with PureCycle Technologies and Sonmol to expand its product offerings and services.
All data was sourced from LevelFields AI
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