PITTSBURGH - MSA Safety Incorporated (NYSE:MSA), a global leader in the development of safety products and solutions, announced today that its Board of Directors has approved the payment of dividends for the fourth quarter of 2024. Shareholders on record as of November 15, 2024, will receive a dividend of $0.51 per share on common stock, with the payment date set for December 10, 2024.
In addition to the common stock dividend, a dividend for preferred stock has also been declared. Holders of preferred stock will receive $0.5625 per share, with the payment scheduled for December 1, 2024. The record date for the preferred stock dividend is aligned with that of the common stock.
MSA Safety has a long-standing history of commitment to worker and facility safety, with a product portfolio that has been expanding since the company's inception in 1914. The company boasts a workforce of over 5,000 associates and operates in more than 40 international locations. With headquarters in Cranberry Township, Pennsylvania, MSA Safety generated revenues of $1.8 billion in 2023.
The announcement of these dividends reflects the company's ongoing efforts to deliver sustainable value to its shareholders. MSA Safety's financial performance and its dedication to safety innovation have positioned it as a notable entity in the safety products industry.
This financial update is based on a press release statement from MSA Safety.
In other recent news, MSA Safety Incorporated reported mixed results in its third-quarter earnings call for fiscal year 2024. The company experienced a 3% decline in net sales to $433 million, while its adjusted earnings per share increased by 3% to $1.83. This is despite facing delivery timing issues in the Fire Services segment and specific customer delays. However, MSA Safety maintained a positive order momentum and a growing backlog.
The company was also recognized as a 2024 outstanding corporate innovator, emphasizing its dedication to safety technology advancements. In terms of future expectations, MSA Safety anticipates mid-single-digit revenue growth in the fourth quarter and projects low single-digit growth for the full year 2024.
The company's management remains confident in the business's resilience, driven by strong industry fundamentals and innovation. These are the recent developments that investors should be aware of.
InvestingPro Insights
MSA Safety'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 52 consecutive years, demonstrating a long-term commitment to returning value to shareholders. This consistency is further underscored by an InvestingPro Tip revealing that MSA has raised its dividend for 10 consecutive years.
The company's financial health appears robust, with InvestingPro data showing a revenue of $1803.8 million for the last twelve months as of Q3 2024, closely matching the $1.8 billion reported for 2023 in the article. MSA's profitability is evident, with a gross profit margin of 47.91% and an operating income margin of 22.69% over the same period.
Another InvestingPro Tip indicates that MSA operates with a moderate level of debt, which may contribute to its ability to maintain consistent dividend payments. This financial prudence, combined with the company's market position in safety products, supports its capacity for ongoing shareholder returns.
For investors seeking more comprehensive insights, InvestingPro offers 7 additional tips for MSA Safety, providing a deeper understanding of the company's financial position and market performance.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.