WD-40 (WDFC) Declares $0.83 Dividend

WD-40 said on March 21, 2023 that its board of directors declared a regular quarterly dividend of $0.83 per share ($3.32 annualized). Previously, the company paid $0.83 per share.

Shares must be purchased before the ex-div date of April 13, 2023 to qualify for the dividend. Shareholders of record as of April 14, 2023 will receive the payment on April 28, 2023.

At the current share price of $170.38 / share, the stock's dividend yield is 1.95%. Looking back five years and taking a sample every week, the average dividend yield has been 1.40%, the lowest has been 0.82%, and the highest has been 2.10%. The standard deviation of yields is 0.25 (n=237).

The current dividend yield is 2.20 standard deviations above the historical average.

Additionally, the company's dividend payout ratio is 0.72. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company's 3-Year dividend growth rate is 0.24%, demonstrating that it has increased its dividend over time.

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Analyst Price Forecast Suggests 6.21% Downside

As of March 22, 2023, the average one-year price target for WD-40 is $159.80. The forecasts range from a low of $88.88 to a high of $217.35. The average price target represents a decrease of 6.21% from its latest reported closing price of $170.38.

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The projected annual revenue for WD-40 is $555MM, an increase of 9.07%. The projected annual non-GAAP EPS is $5.27.

What is the Fund Sentiment?

There are 542 funds or institutions reporting positions in WD-40. This is a decrease of 14 owner(s) or 2.52% in the last quarter. Average portfolio weight of all funds dedicated to WDFC is 0.13%, a decrease of 8.71%. Total shares owned by institutions decreased in the last three months by 0.03% to 14,746K shares. The put/call ratio of WDFC is 1.24, indicating a bearish outlook.

What are Large Shareholders Doing?

APG Asset Management N.V. holds 1,635K shares representing 12.04% ownership of the company. In it's prior filing, the firm reported owning 1,643K shares, representing a decrease of 0.44%. The firm decreased its portfolio allocation in WDFC by 34.06% over the last quarter.

IJR - iShares Core S&P Small-Cap ETF holds 1,006K shares representing 7.41% ownership of the company. In it's prior filing, the firm reported owning 996K shares, representing an increase of 1.01%. The firm decreased its portfolio allocation in WDFC by 15.69% over the last quarter.

Neuberger Berman Group holds 861K shares representing 6.34% ownership of the company. In it's prior filing, the firm reported owning 878K shares, representing a decrease of 1.95%. The firm decreased its portfolio allocation in WDFC by 99.96% over the last quarter.

Kayne Anderson Rudnick Investment Management holds 667K shares representing 4.91% ownership of the company. In it's prior filing, the firm reported owning 564K shares, representing an increase of 15.37%. The firm decreased its portfolio allocation in WDFC by 39.67% over the last quarter.

Ameriprise Financial holds 561K shares representing 4.13% ownership of the company. In it's prior filing, the firm reported owning 633K shares, representing a decrease of 12.77%. The firm decreased its portfolio allocation in WDFC by 23.47% over the last quarter.

WD-40 Background Information
(This description is provided by the company.)

WD-40 Company is a global marketing organization dedicated to creating positive lasting memories by developingand selling products that solve problems in workshops, factories and homes around the world. The Company markets a wide range of maintenance products and homecare and cleaning products under the following well-known brands: WD-40®, 3-IN-ONE®, GT85®, X-14®, 2000 Flushes®, Carpet Fresh®, no vac®, Spot Shot®, 1001®, Lava® and Solvol®.

This story originally appeared on Fintel.