MIDDLETON, Wis. - Spectrum Brands Holdings, Inc. (NYSE: NYSE:SPB), a global consumer products company, has announced a 12% increase in its quarterly dividend to $0.47 per share. The raised dividend, approved by the company's Board of Directors, is payable on December 17, 2024, to shareholders of record as of November 26, 2024.
The increase in dividend payout corresponds to an annualized yield of approximately 2% based on the closing stock price on the day of the announcement. This move reflects the company's commitment to delivering value to its shareholders and confidence in its financial stability.
Spectrum Brands, known for its wide range of home essentials, including pet supplies, lawn and garden care, personal care products, and small household appliances, has a portfolio of well-established brands such as Tetra, Spectracide, and George Foreman.
The company's decision to increase its dividend is a sign of its strong financial health and its ability to generate sufficient cash flow to support such a financial commitment to its investors.
This announcement is based on a press release statement from Spectrum Brands Holdings, Inc. and provides shareholders with key information regarding the upcoming dividend payment. It is an important update for investors who track the company's dividend patterns and overall financial performance.
InvestingPro Insights
Spectrum Brands Holdings' decision to increase its quarterly dividend aligns well with its current financial position and market performance. According to InvestingPro data, the company's revenue for the last twelve months as of Q3 2024 stood at $2.93 billion, with a modest growth of 0.11%. More notably, the company's EBITDA growth over the same period was an impressive 28.19%, indicating improved operational efficiency.
An InvestingPro Tip highlights that management has been aggressively buying back shares, which, coupled with the dividend increase, demonstrates a strong commitment to returning value to shareholders. This strategy is further supported by the fact that Spectrum Brands' liquid assets exceed its short-term obligations, as noted in another InvestingPro Tip.
The company's P/E ratio (adjusted) of 33.8 suggests that investors are willing to pay a premium for its shares, possibly due to growth expectations. This is corroborated by another InvestingPro Tip indicating that net income is expected to grow this year.
For investors seeking more comprehensive analysis, InvestingPro offers additional tips and insights that could provide a deeper understanding of Spectrum Brands' financial health and market position. In fact, there are 5 more InvestingPro Tips available for Spectrum Brands, which could offer valuable perspectives for those considering the stock in light of this dividend increase.
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