A day before announcing its second quarter 2013 financial
results, industrial tool maker,
Stanley Black & Decker Inc.
) announced an increase of 2% or a cent in its quarterly dividend
The revised dividend rate now stands at 50 cents, with annualized
dividend rate coming at $2.00 per share. The increase marks the
46th annual consecutive increase for Stanley Black & Decker.
The new dividend will be paid on Sep 17, 2013 to shareholders of
record on Sep 6, 2013.
Over time, Stanley Black & Decker follows a consistent policy
of returning cash to its shareholders via share buybacks and
dividend payments. The company's long-term capital allocation
objectives include returning roughly one-third of the allocated
amount to shareholders.
Earlier in Jul 2012, Stanley Black & Decker had announced a
20% increase in its quarterly dividend rate and a share buyback
program of roughly 20 million shares.
Stanley Black & Decker is slated to release its second
quarter 2013 financial results on Jul 26, 2013. The Zacks
Consensus Estimate for the quarter currently is at $1.19 while
estimates for years 2013 and 2014 are at $5.45 and $6.30,
respectively. These estimates represent year-over-year decline of
9.5% for the second quarter 2013 while growth of 16.6% and 15.6%
for 2013 and 2014, respectively is estimated.
Stanley Black & Decker currently has a $13.4 billion market
capitalization. The stock currently carries a Zacks Rank #4
The companies that closely compete with Stanley Black &
Lincoln Electric Holdings Inc.
ACTUANT CORP (ATU): Free Stock Analysis
KENNAMETAL INC (KMT): Free Stock Analysis
LINCOLN ELECTRC (LECO): Free Stock Analysis
STANLEY B&D INC (SWK): Free Stock Analysis
To read this article on Zacks.com click here.