JACKSONVILLE, Fla. - Cadre Holdings, Inc. (NYSE:CDRE), known for its manufacturing and distribution of safety equipment, has declared a quarterly cash dividend. The company's Board of Directors announced a dividend of $0.0875 per share, which amounts to an annualized payout of $0.35 per share. Eligible shareholders of record by November 1, 2024, will receive the dividend on November 15, 2024.
Cadre Holdings specializes in providing essential safety products for law enforcement, military, and first responders, among others. Their portfolio includes body armor, explosive ordnance disposal equipment, and nuclear safety products, with a global reach spanning over 100 countries. The company's notable brands include Safariland® and Med-Eng®.
The company's decision to issue dividends is subject to the discretion of its Board of Directors and may vary in the future based on various factors. While Cadre Holdings has expressed optimism in its press release statements, it is important to note that these forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties. These could significantly impact the company's operational results and financial condition.
Investors should be aware that the company's future financial outcomes could deviate from those projected in forward-looking statements due to a number of potential risks. Cadre's filings with the Securities and Exchange Commission, including its Annual and Quarterly Reports, detail these risks under the "Risk Factors" section.
The information reported here is based on a press release statement from Cadre Holdings, Inc. and does not constitute an endorsement of the company's claims or future performance.
In other recent news, Cadre Holdings has been in the spotlight for its strong second quarter performance, with a notable 19% year-over-year growth. This growth was propelled by a 5% organic growth, the recent acquisitions of ICOR and Alpha, and an effective operational expense leverage, which reflected positively on the company's adjusted EBITDA.
Following these developments, Cadre Holdings revised its revenue outlook upward for 2024 but kept the adjusted EBITDA forecast unchanged. This decision was influenced by a cyber attack that caused a shift in some revenue from the third quarter to the fourth quarter.
Despite the cyber incident, Cadre reported no loss of business and expects a robust final quarter due to a backlog of delayed orders. The company is also actively pursuing mergers and acquisitions to enhance its market presence, particularly in the law enforcement, military, and nuclear safety sectors.
In terms of financials, Cadre anticipates its adjusted EBITDA to be between $103 million and $109 million and capital expenditures between $7 million and $9 million. Analyst firm Roth/MKM has revised Cadre's stock target to $39.00, down from $43.00, but maintains a Buy rating on the stock. These are some of the recent developments surrounding Cadre Holdings.
InvestingPro Insights
Cadre Holdings' recent dividend declaration aligns with its financial performance and market position. According to InvestingPro data, the company's dividend yield stands at 0.91%, with a dividend growth of 9.38% over the last twelve months as of Q2 2024. This suggests a commitment to returning value to shareholders, which is particularly noteworthy given the company's strong financial metrics.
The company's revenue growth of 13.64% over the last twelve months and a robust gross profit margin of 41.73% indicate a solid financial foundation supporting its dividend policy. Moreover, Cadre Holdings' operating income margin of 13.35% reflects efficient operations, which is crucial for maintaining and potentially increasing shareholder returns.
An InvestingPro Tip highlights that Cadre Holdings has been profitable over the last twelve months, which is essential for sustaining dividend payments. Additionally, the company's liquid assets exceed short-term obligations, suggesting financial stability to support its dividend strategy.
It's worth noting that Cadre Holdings is trading at a high P/E ratio of 34.99, which may indicate investor confidence in future growth prospects. However, this also means the stock is priced at a premium compared to earnings, which investors should consider when evaluating the company's overall value proposition.
For readers interested in a more comprehensive analysis, InvestingPro offers 8 additional tips for Cadre Holdings, providing deeper insights into the company's financial health and market position.
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