SALEM, N.H. - Standex International Corporation (NYSE: NYSE:SXI) has announced a 6.7% increase in its quarterly cash dividend to $0.32 per share. The dividend is scheduled to be paid on November 22, 2024, to shareholders of record as of November 8, 2024.
This marks the 241st consecutive quarterly cash dividend issued by Standex since it became a publicly traded company in November 1964. The company's consistent dividend payments reflect its long-standing commitment to shareholder returns.
Standex International Corporation operates across diverse industries, including Electronics, Engraving, Scientific, Engineering Technologies, and Specialty Solutions. With a presence in multiple countries such as the United States, Europe, Canada, Japan, Singapore, Mexico, Turkey, India, and China, Standex continues to be a significant player in the global manufacturing sector.
The dividend announcement is based on a press release statement from Standex International Corporation. The company's steady dividend history and the recent increase may be of interest to investors looking for consistent shareholder value from well-established companies.
In other recent news, Standex International reported a decrease in sales but a record profit and cash generation for fiscal 2024. The company has expanded its gross and operating margins while investing in research and development for future growth. Standex plans to launch a significant number of new products in fiscal 2025, with sales in fast-growth markets expected to exceed $110 million.
The company reaffirmed their long-term financial outlook for fiscal year 2028, targeting high single-digit organic growth and improved profitability metrics. Standex concluded its fiscal fourth quarter with $347 million in available liquidity and a net cash position of $5.3 million. Despite a decrease in sales in some segments, the Engineering Technologies segment experienced a 15.7% increase in revenue.
These are recent developments from the company, which remains confident in its long-term financial outlook. Standex's strategy includes a pipeline of over a dozen new products, aiming for higher margins and incremental gross margin impact. The next earnings call is anticipated for the fiscal first quarter of 2025, where the company expects to share more information on specific market opportunities and releases.
InvestingPro Insights
Standex International Corporation's recent dividend increase aligns with its strong track record of shareholder returns. According to InvestingPro data, the company has maintained dividend payments for an impressive 54 consecutive years, demonstrating a long-term commitment to rewarding shareholders. This consistency is further underscored by an InvestingPro Tip revealing that Standex has raised its dividend for 13 consecutive years.
The company's financial health appears robust, with InvestingPro data showing a market capitalization of $2.05 billion and a revenue of $720.63 million over the last twelve months as of Q4 2024. Despite a slight revenue decline of 2.75% during this period, Standex maintains a healthy gross profit margin of 39.13%, indicating efficient cost management.
An InvestingPro Tip suggests that Standex operates with a moderate level of debt, which is crucial for maintaining financial flexibility and supporting continued dividend growth. This prudent financial management is reflected in the company's ability to cover interest payments with its cash flows, as noted by another InvestingPro Tip.
For investors seeking more comprehensive insights, InvestingPro offers 9 additional tips for Standex International Corporation, providing a deeper understanding of the company's financial position and growth prospects.
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