Andersons Hikes Dividend - Analyst Blog
December 19 2011 - 1:05PM
Zacks
The Andersons, Inc. (ANDE) upped its quarterly
dividend by 4 cents to 15 cents to bolster shareholder value. The
dividend hike translates to a 36% increase from the prior dividend
of 11 cents. The increased dividend will be paid on January 24,
2012, to stockholders of record on January 3, 2012.
Since its first year of trading on the NASDAQ in 1996, the
company has consistently paid cash dividends for 61 straight
quarters. The current dividend hike comes exactly after a year. The
last dividend hike of 2 cents or 22% to 11 cents was announced on
December 17, 2010.
Andersons had started off paying a dividend of 3 cents in 1996,
which has now increased fivefold to the current level of 15 cents.
The most substantial increase came in 2007 when the company had
pulled up its dividend by 63% to 7.75 cents. Following that feat,
the current dividend hike of 36% is the highest.
Andersonhas approximately 18.5 million common shares
outstanding. The quarterly dividend payout will be to the tune of
$2.8 million approximately.
During the third quarter, Andersons reported EPS of 59
cents, a substantial improvement over the 8 cents reported in the
year-ago quarter and way ahead of the Zacks Consensus Estimate of
17 cents. The outperformance was led by the Grain & Ethanol and
Plant Nutrient Groups.
Cash and cash equivalents increased to $38.5 million as of
September 30, 2011 from $18.6 million as of June 30, 2011.
Long-term debt stood at $235.7 million as of September 30, 2011
compared with $260.6 million as of June 30, 2011.
Based in Maumee, Ohio, The Andersons, which has a Zacks #2 Rank
(Buy rating), is a diversified company operating in five
differentbusiness segments ranging from buying, selling and storing
grain to leasing railcars and running retail stores catering to the
latest home hardware needs. The company has operations across the
U.S. and in Puerto Rico, plus rail equipment leasing interests in
Canada and Mexico
Andersons competes with Archer Daniels Midland
Company (ADM), CHS
Inc. (CHSCP) and privately held Cargill, Inc.
ARCHER DANIELS (ADM): Free Stock Analysis Report
ANDERSONS INC (ANDE): Free Stock Analysis Report
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