ATLANTA - Acuity Brands, Inc. (NYSE: NYSE:AYI), an industrial technology company, announced today that its Board of Directors has approved a quarterly dividend payment to its shareholders. The declared dividend is set at 15 cents per share and will be distributed on May 1, 2024, to shareholders who are on record as of April 17, 2024.
The company, which specializes in lighting and building management solutions, operates two main business segments: Acuity Brands Lighting and Lighting Controls (ABL) and the Intelligent Spaces Group (ISG). Acuity Brands is known for its innovative product development, which includes a range of lighting, lighting controls, and location-aware applications. This innovation is a key driver of the company's growth strategy, which focuses on capturing increased market share and delivering high returns to its investors.
Acuity Brands has a significant presence across various geographies, with operations spanning North America, Europe, and Asia. The company prides itself on its workforce of over 12,000 associates, who are instrumental in driving its success.
The announcement of the dividend payment follows the company's approach to capital deployment, aimed at expanding its business and exploring new market opportunities. This strategic focus underscores Acuity Brands' commitment to delivering value to its shareholders through consistent financial returns.
Investors and shareholders can expect the upcoming dividend payment to be made at the beginning of May, following the record date in mid-April. The information provided is based on a press release statement from Acuity Brands, Inc.
InvestingPro Insights
Acuity Brands, Inc. (NYSE: AYI) has recently affirmed its commitment to shareholder returns by announcing an upcoming dividend payment. This move comes at a time when the company is trading near its 52-week high, with a price of 98.76% of this peak, reflecting a strong performance in the market. The company's dedication to consistent dividend payments is further evidenced by its history of maintaining dividend disbursements for 23 consecutive years, a notable achievement highlighted in the InvestingPro Tips.
Looking at the real-time data from InvestingPro, Acuity Brands boasts a market capitalization of $8.19 billion and a P/E ratio of 22.69, suggesting that the market values the company's earnings highly. However, it's worth noting that the company is trading at a high P/E ratio relative to near-term earnings growth, which may be a point of consideration for potential investors. Despite a slight decline in revenue growth over the last twelve months, with a decrease of 4.63%, the firm's financial health appears robust as its cash flows can sufficiently cover interest payments, and its liquid assets exceed short-term obligations.
Investors looking to delve deeper into Acuity Brands' financials and future prospects can find additional insights on InvestingPro. There are 12 more InvestingPro Tips available, providing a comprehensive analysis of the company's performance and potential. For those considering an investment in Acuity Brands or seeking to expand their portfolio with informed decisions, using the coupon code PRONEWS24 will grant an extra 10% off a yearly or biyearly Pro and Pro+ subscription.
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