LONDON, UK / ACCESSWIRE / August 22, 2017 / Pro-Trader Daily takes a closer look at Whirlpool Corp. (NYSE: WHR) as the Company's stock will begin trading ex-dividend on August 23, 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 trading session on August 22, 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 August 15, 2017, Whirlpool's Board of Directors declared a quarterly dividend of $1.10 per share on the Company's common stock. The dividend is payable September 15, 2017, to stockholders of record at the close of business on August 25, 2017.
Whirlpool's indicated dividend represents a yield of 2.59%, which is substantially above the average dividend yield of 1.88% for the Consumer Goods sector. The Company has raised its dividend for six consecutive years.
Dividend Insights
Whirlpool has a dividend payout ratio of 30.1%, which indicates that the Company distributes approximately $0.30 for every $1.00 earned. The dividend payout ratio reflects how much money 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, Whirlpool is forecasted to report earnings of $17.16 for the next year which is approximately four times the Company's annualized dividend of $4.40.
As of June 30, 2017, Whirlpool's cash and cash equivalents were $1.04 billion, while the Company's current assets totaled $8.23 billion. For the six months ended June 30, 2017, Whirlpool reported cash used in operating activities of $191 million compared to $404 million in the prior-year's same period. The Company reported free cash flow of $356 million for the first six months of 2017 compared to $547 million in the same prior-year's corresponding period, driven by the Company's focus on working capital optimization. The strong financial position indicates the Company's ability to absorb any fluctuations in earnings and cash flow and to sustain the dividend distribution for a long period.
Recent Development for Whirlpool
On August 17, 2017, Whirlpool announced that it has been awarded a prestigious LEED® Certification for two of its recent building projects, both located in Benton Harbor, Michigan.
Riverview Campus, the North American Region Headquarters, is now LEED® Gold certified for Phase-3 of its development, and the Global Headquarters is LEED® Silver certified for the South and East wings of the building. LEED®, or Leadership in Energy & Environmental Design, is a globally-recognized symbol of excellence in green building. These are the 14th and 15th LEED-certified projects for Whirlpool since 2009, with all projects now totaling more than 9.4 million sq. ft.
About Whirlpool Corporation
Whirlpool is the number one major appliance manufacturer in the world, with approximately $21 billion in annual sales, 93,000 employees and 70 manufacturing and technology research centers in 2016. The Company markets Whirlpool, KitchenAid, Maytag, Consul, Brastemp, Amana, Bauknecht, Jenn-Air, Indesit, and other major brand names in nearly every country throughout the world.
Stock Performance
At the close of trading session on Monday, August 21, 2017, Whirlpool's stock price declined 1.34% to end the day at $167.80. A total volume of 819.39 thousand shares were exchanged during the session, which was above the 3-month average volume of 770.40 thousand shares. The Company's shares are trading at a PE ratio of 16.82 and have a dividend yield of 2.62%. At Monday's closing price, the stock's net capitalization stands at $12.35 billion.
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