Port Washington, New York-based
) recently increased its quarterly dividend by 19% from 21 cents to
25 cents a share. This equates to an annual pay out of $1.00 per
share. The increased dividend will be paid on November 2, 2012, to
stockholders of record as of October 12, 2012.
Pall Corporation has a history of increasing dividend every year
since the inception of its dividend pay out in 1991. The recent
hike in dividend brings the annual dividend yield to 1.6%, as of
September 27, 2012.
Pall Corporation is a leading supplier of filtration, separation
and purification technologies, using its engineering capability and
fluid management expertise, proprietary filter media and other
fluid clarification and separations equipment for the removal of
solid, liquid and gaseous contaminants from a wide variety of
liquids and gases. The company has a consistent track record of not
only paying quarterly dividends but also increasing the same every
year, supported by its cash position.
The last dividend hike of 20% to 21 cents was announced in
October, 2011. Prior to that, Pall Corporation announced a dividend
hike of 9% in October, 2010 and 10% in October, 2009.
The company reported a strong fourth quarter with as earnings
surpassed the Zacks Consensus Estimate by 29%. Sales from
continuing operation were $722.4 million, up 6.4% in local
The company had cash and cash equivalents of $500.2 million as
of June 30, 2012, which reiterates the fact that the company holds
a strong cash position and has the ability to further boost
Pall Corporation currently retains a Zacks #3 Rank, which
translates into a short-term Hold rating. We are also maintaining
our long-term Neutral recommendation on the stock.
PALL CORP (PLL): Free Stock Analysis Report
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