MELVILLE, N.Y. - MSC Industrial Supply Co. (NYSE:MSM), a major distributor of Metalworking and Maintenance, Repair and Operations (MRO) products in North America, has announced a cash dividend of $0.83 per share.
This declaration was made by the company's Board of Directors and is applicable to shareholders on record as of the close of business on April 9, 2024. The dividend is scheduled to be paid on April 23, 2024, with the ex-dividend date set for April 8, 2024.
MSC Industrial Supply Co., with a history spanning over 80 years, serves a wide range of industries by supplying approximately 2.4 million products. The company prides itself on its inventory management, supply chain solutions, and a team of more than 7,000 associates dedicated to supporting customer business efficiency and growth.
The company's forward-looking statements, as outlined in the press release, indicate their expectations for future events and developments, including operational results, the impact of strategic plans, and market growth. Still, these forward-looking statements come with the caveat that they are subject to risks and uncertainties which may cause actual results to differ.
Among the risks highlighted are general economic conditions, changes in customer and product mixes, market competition, and the ability to achieve anticipated investment benefits and cost savings. The company also notes potential disruptions in the supply chain, data privacy and IT system concerns, and the impact of environmental, health, and safety regulations.
MSC Industrial Supply Co.'s financial performance and strategic initiatives are influenced by various factors, including customer demand, supplier relationships, and market conditions. The company's recent dividend declaration reflects its ongoing commitment to shareholder returns.
This report is based on a press release statement and provides a factual overview of MSC Industrial Supply Co.'s dividend announcement and the context within which the company operates.
InvestingPro Insights
MSC Industrial Supply Co. (NYSE:MSM) has demonstrated a strong commitment to shareholder returns, as evidenced by its recent dividend declaration. The company's financial stability and shareholder-friendly practices are further underscored by key metrics and insights from InvestingPro. With a market capitalization of $5.51 billion and a Price/Earnings (P/E) ratio of 16.68, MSC Industrial stands out in the market.
InvestingPro Tips highlight MSM's high shareholder yield and a commendable track record of maintaining dividend payments for 22 consecutive years. Additionally, the company's ability to cover interest payments with its cash flows and the fact that its liquid assets exceed short-term obligations are indicative of financial prudence and stability.
From a performance standpoint, MSC Industrial Supply Co. has a Gross Profit Margin of 40.9% for the last twelve months as of Q1 2024, showcasing the company's efficiency in managing its cost of goods sold. Moreover, with a Return on Assets of 12.63%, the company is effectively utilizing its assets to generate earnings.
Investors looking for a deeper dive into MSC Industrial Supply Co.'s financial health and future prospects can find additional InvestingPro Tips at https://www.investing.com/pro/MSM. There are 5 more tips available, offering a comprehensive analysis of the company's financials and market position.
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