), an industrial goods manufacturer, recently declared second
quarter 2013 dividend of 21 cents per share or 84 cents on an
annualized basis, representing a 31.25% year-over-year increase.
The dividend is payable on Jun 28 to shareholders of record as of
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Based on the closing price of $53.92 on Apr 3, 2013, the dividend
affirms a yield of 1.6%. A steady dividend payout is part of the
long-term strategy of Ingersoll-Rand to provide attractive
risk-adjusted returns to its stockholders. In addition, decent
dividend increases at periodic intervals have been one of the
company's most attractive features.
Ingersoll-Rand had earlier raised the quarterly dividend payout
from 16 cents to 21 cents per share or from 64 cents to 84 cents
on an annualized basis in Mar 2013. Prior to that, Ingersoll-Rand
raised its quarterly dividend in Mar 2012 from 12 cents to 16
cents and in Jun 2011 from 7 cents to 12 cents per share.
The company also has a share repurchase program in place wherein
it can repurchase $2 billion worth of shares over a period of
time either through open market transactions or privately
negotiated transactions at the discretion of management. In
fourth quarter 2012, Ingersoll-Rand repurchased 10 million shares
to bring its tally to18.4 million shares worth $840 million in
2012. Over the years, Ingersoll-Rand has consistently returned
significant cash to its shareholders through dividends and share
Ingersoll-Rand designs, manufactures, sells, and services a range
of industrial and commercial products across the globe. From
microturbines that transform landfill methane gas into power to
electric-powered golf cars with near zero emissions, the company
offers products and services that reduce energy consumption and
costs and decrease harmful environmental emissions. With over $14
billion in revenues in 2012, the company has several
market-leading brands, including Club Car, Hussmann, Ingersoll
Rand, Schlage, Thermo King and Trane.
However, Ingersoll-Rand faces stiff competition from other
players in the market such as
Altra Holdings, Inc.
The Babcock & Wilcox Company
EnPro Industries, Inc.
), each carrying a Zacks Rank #1 (Strong Buy). Ingersoll-Rand
presently carries a Zacks Rank #2 (Buy).