STANDEX DECLARES 238th CONSECUTIVE QUARTERLY DIVIDEND

Rhea-AI Summary

Standex International Corporation (SXI) has declared a quarterly cash dividend of $0.30 per share, marking a 7.1% year-on-year increase. This is the company's 238th consecutive quarterly cash dividend, with dividends paid each quarter since November 1964.

Insights

Financial Analyst

The announcement of Standex International Corporation's increased quarterly cash dividend signifies a positive signal to shareholders and potential investors. A dividend increase of approximately 7.1% year-on-year not only reflects the company's current financial health but also its confidence in maintaining sustainable earnings and cash flow. In evaluating the implications, it's important to note that such a consistent dividend policy can be indicative of a mature company with a stable revenue stream.

When assessing the impact on the stock market, it's typical to see a positive reaction to dividend increases as they often lead to a rise in share price due to the perceived value they add for shareholders. Additionally, the fact that this is Standex's 238th consecutive quarterly cash dividend suggests a strong commitment to returning value to shareholders, which can be attractive to income-focused investors. However, it's crucial to analyze the payout ratio to ensure that the dividends are well covered by earnings and free cash flow, to avoid any potential long-term sustainability issues.

Market Research Analyst

Standex International Corporation's dividend increase announcement is a strategic move that could position the company favorably in the eyes of the market. From a market research perspective, the increase is slightly above the average annual dividend growth rate for industrial companies, which usually hovers around 5-6%. This can be interpreted as Standex's attempt to signal above-average performance and financial stability compared to its peers.

Furthermore, consistent dividend payments since 1964 demonstrate a long-term strategy geared towards investor loyalty and could be a key differentiator in a competitive market. It's essential to contextualize this increase within the broader industry trends, including capital expenditure, R&D investments and potential market expansion, which can affect future dividend sustainability and growth.

SALEM, N.H., Jan. 26, 2024 /PRNewswire/ -- Standex International Corporation (NYSE: SXI) today announced that its Board of Directors has declared a quarterly cash dividend of $0.30 per share, an approximately 7.1% year-on-year increase. The dividend is payable February 26, 2024, to shareholders of record on February 12, 2024. 

The dividend is the Company's 238^th consecutive quarterly cash dividend. Standex has paid dividends each quarter since it became a public corporation in November 1964.

About Standex

Standex International Corporation is a global multi-industry manufacturer in five broad business segments: Electronics, Engraving, Scientific, Engineering Technologies and Specialty Solutions with operations in the United States, Europe, Canada, Japan, Singapore, Mexico, Turkey, South Africa, India and China. For additional information, visit the Company's website at www.standex.com.

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SOURCE Standex International Corporation

FAQ

What is the dividend amount declared by Standex International Corporation?

Standex International Corporation has declared a quarterly cash dividend of $0.30 per share.

When is the dividend payable to shareholders?

The dividend is payable on February 26, 2024, to shareholders of record on February 12, 2024.

How long has Standex International Corporation been paying dividends?

Standex has paid dividends each quarter since it became a public corporation in November 1964.

What is the ticker symbol for Standex International Corporation?

The ticker symbol for Standex International Corporation is SXI.