SCOTTSDALE, Ariz. - Carlisle Companies Incorporated (NYSE:CSL (OTC:CSLLY)), known for its building envelope products, has announced a dividend of $1.00 per share. The dividend is scheduled to be paid on December 2, 2024, to shareholders who are on record by the close of business on November 15, 2024.
The declaration by the Board of Directors reflects the company's commitment to providing shareholder returns and follows its strategy of balanced capital deployment. This strategy includes investments in the business, strategic acquisitions, share repurchases, and consistent dividend growth.
Carlisle Companies has a diversified business portfolio, which includes Carlisle Construction Materials (CCM) and Carlisle Weatherproofing Technologies (CWT). These segments are known for offering innovative and labor-reducing building solutions that contribute to more energy-efficient buildings. The company prides itself on delivering these solutions through what it terms the "Carlisle Experience."
In line with its continuous improvement culture, known as the Carlisle Operating System (COS), the company has also made a commitment to achieve net-zero greenhouse gas emissions by the year 2050, aligning with global efforts to address climate change.
This dividend announcement is a tangible representation of Carlisle's ongoing pledge to generate superior returns for its shareholders. The information regarding the dividend and the company's strategic approach is based on a press release statement from Carlisle Companies Incorporated.
In other recent news, Carlisle Companies Incorporated reported a robust Q3 performance, despite facing market challenges. The company announced a 6% increase in sales to $1.3 billion and a substantial 24% rise in adjusted earnings per share to $5.78. Carlisle's CCM segment saw a 9% revenue increase, while its CWT segment experienced a 3% sales decline.
The company declared an 18% dividend increase and invested significantly in research and development, as well as mergers and acquisitions, including the acquisition of PlastiFab. Carlisle Companies also repurchased 1.1 million shares for $466 million in Q3.
Analysts noted that the company's Vision 2030 strategy is designed to achieve a $40 EPS and enhance shareholder value through innovation, operational excellence, and strategic mergers and acquisitions. However, the company lowered its full-year revenue growth outlook to 10%, with a reaffirmed expectation for 150 basis points of adjusted EBITDA margin expansion.
These are recent developments that indicate the company's commitment to its strategic initiatives and operational improvements, which are expected to drive long-term growth and enhance shareholder value.
InvestingPro Insights
Carlisle Companies Incorporated's recent dividend announcement aligns with its strong track record of shareholder returns. According to InvestingPro data, the company has maintained dividend payments for an impressive 54 consecutive years and has raised its dividend for 31 consecutive years. This consistency underscores Carlisle's commitment to returning value to shareholders, as highlighted in the company's press release.
The company's financial health appears robust, with InvestingPro data showing a revenue of $5.01 billion over the last twelve months as of Q3 2024, representing a growth of 8.65%. This growth supports Carlisle's ability to sustain its dividend policy while investing in its business and pursuing strategic acquisitions.
InvestingPro Tips reveal that Carlisle is trading at a low P/E ratio relative to its near-term earnings growth, with a PEG ratio of 0.22. This suggests that the stock may be undervalued considering its growth prospects, which could be of interest to value-oriented investors.
Furthermore, Carlisle's commitment to sustainability, as mentioned in the article, is complemented by its strong financial performance. The company's operating income margin stands at 23.4%, indicating efficient operations that could support its long-term environmental goals.
For investors seeking more comprehensive insights, InvestingPro offers 12 additional tips for Carlisle Companies Incorporated, providing a deeper analysis of the company's financial health and market position.
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