Dover Corporation - DOV STOCK NEWS

Dover Fueling Solutions (DFS) announced the launch of DX Retail™, a new solution for managing Tokheim Fuel point-of-sale (POS) systems. This innovative platform leverages Microsoft Azure technology to enable simultaneous updates across multiple sites, enhancing operational efficiency and security. Retailers can manage updates and access reporting features remotely, promoting substantial time savings. Early deployment in the European market shows strong interest, with multiple clients committed to adoption this year.

The Board of Directors of Dover has declared a quarterly cash dividend of $0.495 per share, payable on June 15, 2021, to shareholders of record as of May 28, 2021. Dover, headquartered in Downers Grove, Illinois, is a diversified global manufacturer with approximately $7 billion in annual revenue, offering innovative solutions across five operating segments. This dividend reflects Dover's commitment to returning value to its shareholders.

On May 5, 2021, Dover announced the launch of the Wilden Equalizer® Surge Dampeners - Integrated SD Series. These new dampeners, available in multiple sizes, are engineered to minimize fluid pressure fluctuations at the pump's discharge. This enhancement is designed to protect system equipment, extend the lifespan of Wilden air-operated double-diaphragm pumps, and improve overall efficiency. The ISD Series features a robust metal construction and is suitable for various industries including oil, gas, and chemicals.

Dover (NYSE: DOV) announced that Richard J. Tobin, President and CEO, will present at the virtual Goldman Sachs Industrials and Materials Conference on May 11, 2021, at 9:40 am ET. A live audio webcast of the presentation will be available on dovercorporation.com and will be archived for 90 days. Dover is a global manufacturer with an annual revenue of around $7 billion, operating through five segments. The company focuses on innovative equipment, components, and digital solutions, employing approximately 24,000 people globally.

Dover, through Chief Collision Technology, has launched Constellation, the collision industry's first mobile 3D hail damage scanning system. This innovative system improves the assessment of hail damage by offering a 90% accuracy rate while eliminating manual error. Quick to deploy within 24-48 hours, it accommodates various vehicle types and automates the scanning process, enhancing efficiency in damage tracking from incident to repair. This product positions Dover to potentially transform the collision repair industry.

Dover has announced the recipients of its 2021 Sons & Daughters Scholarship Program, awarding scholarships to 29 winners across its various operating companies. This program, which has run for ten years, supports children of full-time employees and provides up to $10,000 over four years for college education. A total of 343 scholarships have been awarded, totaling approximately $2.3 million in financial aid. The selection committee consisted of college admissions professionals from reputable universities, ensuring merit-based awards.

Dover reported a strong first quarter ending March 31, 2021, with revenue of $1.9 billion, marking a 13% increase year-over-year. Net earnings rose 32% to $233 million, and diluted EPS climbed 33% to $1.61. Organic revenue growth stood at 9%. Adjusted net earnings were $263 million, up 29%, with adjusted diluted EPS at $1.81, a 30% increase. Management raised full-year 2021 revenue growth guidance to 10% to 12% and EPS guidance to $5.92 to $6.02.

Dover (NYSE: DOV) has completed the acquisition of AvaLAN Wireless Systems, a provider of secure wireless and wired Ethernet solutions. This strategic move positions Dover Fueling Solutions to enhance its offerings and address the growing demand for network infrastructure in the fuel retail sector. AvaLAN's technology promises to facilitate secure data connections for retail and government customers, aligning with trends toward digitization in the industry. While transaction terms were not disclosed, the acquisition is expected to strengthen Dover's portfolio and improve service capabilities.

Destaco, a subsidiary of Dover (NYSE: DOV), has launched the PGM40 part positioner, aimed at enhancing part-positioning applications across various industries including automotive and packaging. This precision-engineered device boasts ultra-fast settling times and high placement accuracy, promising reduced operational costs due to its energy-efficient design. The PGM40 is suitable for handling significant payloads and features compatibility with third-party motors. Its maintenance-free design enhances reliability and operational efficiency, presenting a cost-effective solution for manufacturers transitioning from traditional air-powered systems.