Mueller Water Products (NYSE:MWA) Declares Quarterly Dividend of $0.08

Mueller Water Products (NYSE:MWA) declared a quarterly dividend on Thursday, October 22nd. Stockholders of record on Monday, November 9th will be paid a dividend of $0.08 per share by the industrial products company on Thursday, November 19th. This represents a $0.32 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Monday, November 9th. This is a 14.3% increase from Mueller Water Products’s previous quarterly dividend of $0.07.

Mueller Water Products has raised its dividend payment by an average of 0.1% annually over the last three years and has raised its dividend every year for the last 10 years. Mueller Water Products has a payout ratio of 20.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Mueller Water Products to earn $1.62 per share next year, which means the company should continue to be able to cover its $0.28 annual dividend with an expected future payout ratio of 17.3%.

Mueller Water Products Stock Performance

NYSE:MWA opened at $22.31 on Friday. The stock has a 50 day simple moving average of $22.95 and a 200 day simple moving average of $25.08. The stock has a market cap of $3.48 billion, a P/E ratio of 15.82, a PEG ratio of 0.90 and a beta of 1.01. Mueller Water Products has a 1-year low of $20.90 and a 1-year high of $31.00. The company has a current ratio of 4.64, a quick ratio of 3.08 and a debt-to-equity ratio of 0.40.

Mueller Water Products (NYSE:MWA) last issued its quarterly earnings results on Wednesday, August 5th. The industrial products company reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.11. The business had revenue of $395.90 million for the quarter, compared to the consensus estimate of $391.49 million. Mueller Water Products had a return on equity of 23.55% and a net margin of 15.02%. The firm’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.34 earnings per share. Research analysts anticipate that Mueller Water Products will post 1.52 earnings per share for the current year.

Mueller Water Products announced that its board has authorized a share repurchase plan on Thursday, October 22nd that authorizes the company to buy back $300.00 million in shares. This repurchase authorization authorizes the industrial products company to buy up to 8.8% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

About Mueller Water Products

Mueller Water Products, Inc (NYSE:MWA) manufactures products and provides services used in the treatment, transmission, distribution, and measurement of water. Its customers include municipalities, water utilities, distributors, contractors, and industrial organizations.

The company’s product portfolio includes water valves, fire hydrants, pipe fittings, repair and connection products, and related infrastructure equipment. Through its Echologics business, Mueller also provides acoustic leak-detection technologies and other solutions designed to help utilities monitor and manage water distribution systems.

Mueller Water Products traces its history to Mueller Co, which was founded in 1857.