Patrick Industries, Inc. (NASDAQ:PATK) Plans Quarterly Dividend of $0.47

Patrick Industries, Inc. (NASDAQ:PATK) announced a quarterly dividend on Thursday, August 13th. Shareholders of record on Monday, August 24th will be given a dividend of 0.47 per share by the construction company on Tuesday, September 8th. This represents a c) annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Monday, August 24th.

Patrick Industries has increased its dividend payment by an average of 0.2%annually over the last three years and has increased its dividend every year for the last 6 years. Patrick Industries has a dividend payout ratio of 34.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Patrick Industries to earn $5.26 per share next year, which means the company should continue to be able to cover its $1.88 annual dividend with an expected future payout ratio of 35.7%.

Patrick Industries Trading Down 0.5%

NASDAQ PATK traded down $0.40 during trading on Friday, hitting $86.06. 570,625 shares of the company’s stock traded hands, compared to its average volume of 504,147. The stock has a fifty day moving average of $86.48 and a two-hundred day moving average of $103.17. Patrick Industries has a 12-month low of $81.29 and a 12-month high of $148.50. The firm has a market cap of $2.76 billion, a P/E ratio of 20.39 and a beta of 1.11. The company has a debt-to-equity ratio of 1.25, a current ratio of 2.67 and a quick ratio of 0.96.

Patrick Industries (NASDAQ:PATK) last released its quarterly earnings data on Thursday, July 30th. The construction company reported $1.29 EPS for the quarter, topping the consensus estimate of $1.24 by $0.05. The firm had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $994.95 million. Patrick Industries had a return on equity of 12.69% and a net margin of 3.74%.The company’s quarterly revenue was down .6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.50 earnings per share. As a group, sell-side analysts expect that Patrick Industries will post 4.26 EPS for the current year.

Patrick Industries Company Profile

Patrick Industries, Inc is a leading manufacturer and distributor of component products and building materials for the recreational vehicle (RV), manufactured housing, marine and industrial markets. The company supplies a broad array of interior and exterior products, including cabinetry, countertops, flooring, wall panels and decorative trim. Patrick Industries also offers engineered composites, adhesives, sealants and insulation solutions that cater to both original equipment manufacturers (OEMs) and aftermarket customers across North America.

Founded in 1959 and headquartered in Elkhart, Indiana, Patrick Industries began as a small distributor of hardwood and millwork products.