NORTHBROOK, Ill. - IDEX Corporation (NYSE:IEX), a diversified industrial company, has declared a quarterly cash dividend of $0.69 per common share, which is scheduled to be paid on May 31, 2024, to shareholders on record as of May 17, 2024. This announcement came earlier today and marks the company's 118th consecutive regular quarterly cash dividend.
The consistency of IDEX's dividend payments reflects its commitment to delivering shareholder value. The company has a history of providing dividends to its shareholders, and this recent declaration is in line with its longstanding policy.
IDEX Corporation is known for manufacturing a wide range of products and components that are integral to a variety of industries. Its products are often behind-the-scenes yet essential in many everyday activities. From the production of chocolate to lifesaving rescue operations and medical diagnostics, IDEX's businesses play a critical role.
Employing approximately 8,800 people, IDEX operates manufacturing facilities across more than 20 countries. The company boasts a global footprint and reported annual sales of about $3.3 billion, underlining its position as a significant player in the industrial sector.
IDEX's shares are publicly traded on the New York Stock Exchange, and the company continues to focus on delivering high-performance, trusted solutions that have a positive impact on lives around the world.
Investors and those interested in the company's financial strategies may find this dividend payment to be a sign of IDEX's financial health and operational stability. The information for this article is based on a press release statement from IDEX Corporation.
InvestingPro Insights
IDEX Corporation (NYSE:IEX) remains a stalwart in the industrial sector, with a market capitalization of $16.82 billion, reflecting its substantial presence. The company's commitment to shareholder returns is evident through its impressive track record of dividend payments, having raised its dividend for 14 consecutive years and maintained payments for 30 consecutive years. This is a testament to IDEX's financial discipline and operational efficiency, aspects that are crucial for investors seeking stable dividend income.
InvestingPro Tips highlight that IDEX operates with a moderate level of debt and has liquid assets that exceed short-term obligations, providing a cushion for ongoing operations and potential investments. These factors contribute to the company's ability to sustain and grow its dividends over time. Moreover, analysts predict the company will be profitable this year, which is corroborated by the company's profitability over the last twelve months. Investors interested in exploring further can find additional InvestingPro Tips at https://www.investing.com/pro/IEX, with a total of 10 more tips available to help guide their investment decisions.
InvestingPro Data shows a P/E Ratio of 29.09, suggesting that the company is trading at a higher valuation relative to its earnings. This is further supported by the Price / Book ratio of 4.65, indicating a premium on the company's book value. While the revenue growth has seen a slight decline of 1.44% over the last twelve months, the company's gross profit margin remains robust at 44.16%, showcasing the efficiency of its operations.
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