AUBURN HILLS, Mich. - PHINIA Inc. (NYSE: PHIN), a prominent provider of premium fuel systems and electrical components, has declared a quarterly cash dividend of $0.25 per common share. The dividend is scheduled to be paid on June 14, 2024, to shareholders who are on record by the close of business on May 24, 2024.
This announcement follows PHINIA's continued performance in the market, where it operates across various sectors including commercial vehicles, industrial applications, and light vehicles. The company's expertise spans over a century, with a significant workforce of over 13,000 employees spread across 44 locations in 20 countries.
PHINIA has established a strong presence in the industry with a portfolio of well-known brands such as DELPHI®, DELCO REMY®, and HARTRIDGE®. Its products and solutions are tailored to enhance the efficiency and performance of combustion engines, while also investing in advanced technologies for alternative fuels, signifying its commitment to sustainability and innovation.
The company's strategic focus on both current market needs and future advancements positions it as a key partner for a broad range of customers in the commercial vehicle, industrial, light vehicle, and aftermarket sectors.
This dividend reflects PHINIA's financial health and its ability to return value to its shareholders consistently. The declaration of the dividend is based on a press release statement from PHINIA Inc.
InvestingPro Insights
PHINIA Inc. (NYSE: PHIN) has been showcasing strong performance metrics that align well with its recent dividend announcement. With a market capitalization of $1.95 billion and a price-to-earnings (P/E) ratio of 19.06, the company stands out as a robust player in the premium fuel systems and electrical components industry. Adjusted for the last twelve months as of Q1 2024, the P/E ratio becomes even more attractive at 11.8, indicating potential value for investors.
The company's commitment to shareholder returns is further evidenced by its high shareholder yield, a key InvestingPro Tip that highlights PHINIA's dedication to maximizing investor value. Additionally, the company's stock is trading near its 52-week high, with a price that is 99.26% of this peak, reflecting strong market confidence in PHINIA's performance and growth prospects.
Investors should note that PHINIA has demonstrated a strong return over the last three months, with a price total return of 42.9%. This robust performance is backed by the company's solid financials, including a revenue growth of 5.6% for the last twelve months as of Q1 2024, and a gross profit margin of 21.09%. These figures suggest a healthy operational efficiency that could support sustained dividend payments and potential capital appreciation.
For those looking for more in-depth analysis and additional InvestingPro Tips, there are currently 8 more tips available for PHINIA Inc. at Investing.com/pro. Use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, and gain access to exclusive insights that could further inform your investment decisions.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.