Acuity Brands Inc (AYI, Financial), MAXIMUS Inc (MMS, Financial) and The Cooper Companies Inc (COO, Financial) announced dividends on Wednesday, Jan. 8. These companies are loyal payers who have been distributing dividends for more than 15 years.
Acuity Brands
Shares of Acuity Brands Inc were up 1.97% to a price of $143.12 per unit at close on Jan. 8 following the announcement of a 13 cents quarterly cash dividend per common share, which is on par with the previous payment.
Acuity will pay the quarterly dividend to its shareholders on Feb. 3, 2020. Investors must be on the company’s book no later than Jan. 20 to receive the payment. The ex-dividend date is scheduled for Jan. 16.
Based on Wednesday’s closing share price, the quarterly distribution produces a yield of 0.36% for the forward dividend and for the trailing 12-month dividend. The S&P 500 yields 1.76% as of Jan. 8.
The Atlanta, Georgia-based distributor of electrical equipment and parts has paid dividends for about 18 years. The company hasn't increased its dividend over the last 10 years.
Acuity funds the quarterly dividend payment with $461 million in cash available on hand as of Aug. 31 this year. The last 12 months of activities have generated an operating cash flow of nearly $495 million.
The stock price has increased 5.4% in the past year through Jan. 8. The 52-week range is $105.95 to $147.44.
The stock has a market capitalization of $5.67 billion, a forward price-earnings ratio of 17.26 and a price-book ratio of 2.94. The Peter Lynch chart below shows that the current market valuation is fair.
With 9.24% of outstanding shares, the Vanguard Group Inc. is the company's largest fundholder, followed by Al Gore with 6.61% and JPMorgan Chase & Co with 3.99%.
The stock has an overweight recommendation rating from Wall Street with an average target price of $138.44.
MAXIMUS
Shares of MAXIMUS Inc were down 0.48% at a price of $73.91 per unit at close on Wednesday after the company announced a 28 cents quarterly cash dividend per common share, which is in line with the previous one.
MAXIMUS will pay its shareholders on Feb. 28, 2020. Investors must be on the records of the company no later than Feb. 14 in order to benefit. The ex-dividend date is scheduled for Feb. 13.
Based on Wednesday’s closing share price, the quarterly cash dividend produces a forward dividend yield of 1.52% and a trailing 12-month dividend yield of 1.39%. The S&P 500 yields 1.76% as of Jan. 8.
The Reston, Virginia-based provider of business process services to government health and human services programs has paid dividends for about 15 years and increased them by 24% in the last decade.
The company backs the payment of the quarterly dividend with approximately $106 million available on hand as of the most recent quarter, which ended on Sept. 30, 2019. Further, the last 12 months of business generated an operating cash flow of nearly $357 million.
The stock price has grown nearly 8% in the past year through Jan. 8. The 52-week range is $66.46 to $82.02.
The stock has a market capitalization of $4.73 billion, a price-book ratio of 3.79 and a price-sales ratio of 1.64. Based on the Peter Lynch chart, the stock is trading around its fair value.
Vanguard Group Inc is the company's largest fund holder with 11.01% of outstanding shares, followed by Victory Capital Management Inc with 6.29% and State Street Corp with 3.29%.
The stock has a hold recommendation rating from Wall Street with an average target price of $79.75.
The Cooper Companies
Shares of The Cooper Companies Inc were down 0.27% at a price of $326.77 per unit in after-hours trading on Wednesday after the company announced a semi-annual cash dividend of 3 cents per common share, which is on par with the previous distribution.
The payment of the semi-annual dividend will happen on Feb. 10, 2020. In order to benefit, investors must be on the books of the company not later than Jan. 23. The ex-dividend date is scheduled for Jan. 22.
Based on Wednesday’s closing share price of $327.65, the quarterly dividend generates a yield of 0.02% for both the forward dividend and the trailing 12-month dividend. The S&P 500 yields 1.76% as of Jan. 8.
The California-based developer and marketer of medical devices has paid dividends for about 20 decades but never increased them.
Financially, The Cooper Companies sustains the payment of the quarterly dividend with about $90 million cash available on hand as of the most recent quarter, which ended on Oct. 31 this year. The last 12 months of operations provided the company with a cash flow of $713.2 million.
The stock price has grown nearly 27% in the past year through Jan. 8. The 52-week range is $247.83 to $344.32.
The stock has a market capitalization of $16.08 billion, a price-earnings ratio of 35.08, a price-book ratio of 4.48 and a price-sales ratio of 6.17.
The Peter Lynch chart shows that the stock is trading above its fair value.
With 11.41% of outstanding shares, the Vanguard Group Inc is the company's largest institutional owner, followed by Price T Rowe Associates Inc/MD with 10.9% and Henderson Group Plc with 6%.
The stock has an overweight recommendation rating from Wall Street with an average target price of $342.73.
Disclosure: I have no positions in any securities mentioned.
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