Kaiser Aluminum Corp. (NASDAQ:KALU) Declares $0.60 Quarterly Dividend

Kaiser Aluminum Corp. (NASDAQ:KALU) announced a quarterly dividend on Monday, July 15th, NASDAQ reports. Investors of record on Thursday, July 25th will be given a dividend of 0.60 per share by the industrial products company on Thursday, August 15th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date of this dividend is Wednesday, July 24th.

Kaiser Aluminum has raised its dividend by an average of 11.2% per year over the last three years and has raised its dividend every year for the last 7 years. Kaiser Aluminum has a payout ratio of 36.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect Kaiser Aluminum to earn $7.78 per share next year, which means the company should continue to be able to cover its $2.40 annual dividend with an expected future payout ratio of 30.8%.

Kaiser Aluminum stock opened at $96.31 on Tuesday. The company has a debt-to-equity ratio of 0.50, a current ratio of 3.29 and a quick ratio of 2.14. Kaiser Aluminum has a 52 week low of $83.29 and a 52 week high of $119.66. The firm has a market capitalization of $1.54 billion, a P/E ratio of 14.89 and a beta of 1.03. The business’s 50-day moving average price is $94.59.

Kaiser Aluminum (NASDAQ:KALU) last announced its quarterly earnings results on Tuesday, April 23rd. The industrial products company reported $1.85 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.83 by $0.02. Kaiser Aluminum had a return on equity of 14.91% and a net margin of 5.90%. The company had revenue of $395.00 million during the quarter, compared to the consensus estimate of $404.04 million. During the same period in the previous year, the company posted $1.60 earnings per share. Kaiser Aluminum’s revenue for the quarter was up 1.8% on a year-over-year basis. On average, analysts expect that Kaiser Aluminum will post 7.18 EPS for the current fiscal year.

In other news, CFO Neal E. West sold 750 shares of the company’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $100.00, for a total transaction of $75,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Keith Harvey sold 500 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $90.00, for a total value of $45,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 11,050 shares of company stock valued at $1,083,105. Corporate insiders own 1.70% of the company’s stock.

KALU has been the subject of a number of analyst reports. BidaskClub downgraded Ames National from a “hold” rating to a “sell” rating in a report on Wednesday, July 17th. ValuEngine raised XCel Brands from a “sell” rating to a “hold” rating in a report on Tuesday, July 9th. Finally, Zacks Investment Research downgraded EXACT Sciences from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. Kaiser Aluminum currently has a consensus rating of “Hold” and an average target price of $108.60.

Kaiser Aluminum Company Profile

Kaiser Aluminum Corporation manufactures and sells semi-fabricated specialty aluminum mill products. The company offers rolled, extruded, and drawn aluminum products used principally for aerospace and defense, automotive, consumer durables, electronics, electrical, and machinery and equipment applications.

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Dividend History for Kaiser Aluminum (NASDAQ:KALU)

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