LONDON, UK / ACCESSWIRE / September 21, 2017 / Pro-Trader Daily takes a closer look at Johnson Controls International PLC (NYSE: JCI) as the Company's stock will begin trading ex-dividend on September 22, 2017. In order to capture the dividend payout, investors must purchase the stock a day prior to the ex-dividend date that is by latest at the end of the trading session on September 21, 2017. Are you looking for research on dividend stocks, if so register with us now for your free membership at:
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Dividend Declared
On September 13, 2017, Johnson Controls' Board of Directors approved a regular quarterly cash dividend of $0.25 per common share payable on October 13, 2017, to shareholders of record at the close of business on September 25, 2017.
Johnson Controls' indicated dividend represents a yield of 2.53%, which is substantially above the average dividend yield of 1.81% for the Consumer Goods sector. Johnson Controls has paid a consecutive dividend since 1887. The Company has raised its dividend for six consecutive years.
Dividend Insights
Johnson Controls has a dividend payout ratio of 38.3%, which reflects that it distributes approximately $0.38 for every $1.00 earned. The dividend payout ratio reflects how much amount a company is returning to shareholders versus how much money it is keeping on hand to reinvest in growth, to pay off debt, and/or to add to its cash reserves.
According to analysts' estimates, Johnson Controls is forecasted to report earnings of $2.97 per share in the coming year, which means that the Company should be able to comfortably cover its annualized dividend of $2.61.
The Company's net cash provided by operating activities totaled $215 million for the three months ended June 30, 2017, compared to operating cash flows of $75 million for the three months ended June 30, 2016. As of June 30, 2017, Johnson Controls' cash and cash equivalents were $458 million compared to $579 million as on September 30, 2016. The Company's strong financial position indicates its ability to absorb any fluctuations in earnings and cash flow and to sustain its dividend distribution for a long period.
Recent Development for Johnson Controls
On August 21, 2017, Johnson Controls announced that effective September 01, 2017, George Oliver, currently President and Chief Operating Officer, will assume the role of Chairman and CEO. This action accelerates the move of Mr. Oliver to his new position six months earlier than previously announced. The acceleration was unanimously approved by the Company's Board of Directors. Mr. Molinaroli, currently Chairman and CEO, will leave the Company and the Board effective September 01, 2017.
In addition, Johnson Controls announced that Jürgen Tinggren, chair of the audit committee and a member of the executive committee, has been appointed lead independent director of the Johnson Controls' Board of Directors, effectively immediately. Separately, the company announced that Jeffrey A. Joerres has stepped down from the Board.
About Johnson Controls International PLC
Johnson Controls is a global diversified technology and multi-industrial leader serving a wide range of customers in more than 150 countries. The Company's 120,000 employees create intelligent buildings, efficient energy solutions, integrated infrastructure and next-generation transportation systems that work seamlessly together to deliver on the promise of smart cities and communities. Johnson Controls commitment to sustainability dates back to its roots in 1885, with the invention of the first electric room thermostat.
Stock Performance
On Wednesday, September 20, 2017, the stock closed the trading session at $39.75, climbing 1.82% from its previous closing price of $39.04. A total volume of 5.68 million shares have exchanged hands, which was higher than the 3-month average volume of 5.36 million shares. Johnson Controls' stock price advanced 3.87% in the last one month and 1.09% in the previous twelve months. The stock has a dividend yield of 2.52%. The stock currently has a market cap of $37.33 billion.
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