LONDON, UK / ACCESSWIRE / January 26, 2018 / Active-Investors has a free review on Apogee Enterprises, Inc. (NASDAQ: APOG) ("Apogee") following the Company's announcement that it will begin trading ex-dividend on January 29, 2018. To capture the dividend payout, investors must purchase the stock a day prior to the ex-dividend date (excluding weekend) that is by latest at the end of the trading session on January 26, 2018. Active-Investors has initiated due-diligence on this dividend stock. Register with us for more free research including the one on APOG:
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Dividend Declared
On January 10, 2018, Apogee's Board of Directors announced it has declared a quarterly cash dividend of $0.1575 per share, payable on February 14, 2018, to shareholders of record on January 30, 2018. The dividend of $0.1575 per share represents an increase of 12.5% from the previous quarterly dividend of $0.14 per share.
Apogee's indicated dividend represents a yield of 1.41%, which is substantially higher than the average dividend yield of 1.04% for the Industrial Goods sector. The Company has raised dividend for six consecutive years.
Dividend Insight
Apogee has a dividend payout ratio of 20.7%, which means that the Company spends approximately $0.21 for dividend distribution out of 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, Apogee is forecasted to report earnings of $3.61 per share for the next year, which is more than five timed the Company's annualized dividend of $0.63 per share.
As of December 02, 2017, Apogee's cash and cash equivalents totaled $12.85 million compared to $19.46 million as of March 31, 2017. For the nine months ended December 02, 2017, the Company's net cash provided by operating activities totaled $66.24 million compared to $72.82 million for the year ago same period. Apogee's year-to-date free cash flow was $27 million. The Company's strong financial position indicates its ability to absorb any fluctuations in earnings and cash flow and to sustain the dividend distribution for a long period.
Earnings Announcement
On January 05, 2018, Apogee announced that is making significant investments in its Viracon architectural glass business for new capabilities, automation, and improved productivity that are yielding increased capacity. Apogee also announced that it does no longer require the capacity from its smallest domestic architectural glass plant in St. George, Utah, and will be closing that facility in March 2018.
In the fiscal 2018 fourth quarter, Apogee will be taking a restructuring charge of approximately $4.5 million, or $0.11 per share, primarily related to the plant closure. This charge was reflected in Apogee's current fiscal 2018 outlook provided in December 2017. The payback is expected to be approximately one year.
About Apogee Enterprises, Inc.
Apogee, headquartered in Minneapolis, is a leader in the design and development of value-added glass and metal products and services for enclosing commercial buildings, and value-added glass and acrylic for picture framing and displays.
Stock Performance Snapshot
January 25, 2018 - At Thursday's closing bell, Apogee's stock marginally advanced 0.02%, ending the trading session at $45.30.
Volume traded for the day: 294.97 thousand shares, which was above the 3-month average volume of 281.26 thousand shares.
Stock performance in the last month – up 3.57%
After yesterday's close, Apogee's market cap was at $1.30 billion.
Price to Earnings (P/E) ratio was at 16.28.
The stock has a dividend yield of 1.39%.
The stock is part of the Industrial Goods sector, categorized under the General Building Materials industry. This sector was up 0.7% at the end of the session.
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