LONDON, UK / ACCESSWIRE / October 20, 2017 / Pro-Trader Daily takes a closer look at Thor Industries, Inc. (NYSE: THO) as the Company's stock will begin trading ex-dividend on October 23, 2017. In order to capture the dividend payout, investors are required to purchase the stock a day prior (excluding weekend) to the ex-dividend date that is by latest at the end of trading session on October 20, 2017. Are you looking for research on dividend stocks, if so register with us now for your free membership at:
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Dividend Declared
On October 10, 2017, Thor Industries announced that its Board of Directors approved, at their October 10 meeting, an increase in the amount of Thor Industries' regular quarterly dividend to $0.37 per share from $0.33 per share, an increase of 12%. The regular dividend is payable on November 07, 2017, to shareholders of record at the close of business on October 24, 2017.
Thor Industries indicated dividend represents a yield of 1.14% compared to the average dividend yield of 1.76% for the Consumer Goods sector. The Company has raised dividends on its common stock for seven years in a row.
Dividend Insights
Thor Industries has a dividend payout ratio of 18.2%, which means that the Company distributes approximately $0.18 for every $1.00 earned. The dividend payout ratio reflects how much amount a company is returning to shareholders versus how much money it is keeping on hand to reinvest in growth, to pay off debt, and/ or to add to its cash reserves.
According to analysts' estimates, Thor Industries is estimated to report earnings of $8.93 for the next year, which ia substantially above which the Company's annualized dividend of $1.48 per share.
As of July 31, 2017, Thor Industries held $223.26 million of cash compared to $209.90 million as on July 31, 2016. For the fiscal year 2017, the Company's operating cash flow increased 22.9% to $419.3 million compared to $341.2 million for fiscal 2016. The Company's strong financial position indicates its ability to absorb any fluctuations in earnings and cash flow and to sustain its dividend distribution for a long period.
Recent Development for Thor Industries
On October 12, 2017, Thor Industries announced that its Board of Directors has formally approved a policy promoting diversity within the Board. The policy requires all initial lists of candidates from which new director nominees are chosen by the Board's Nominating and Governance Committee to include qualified candidates with diversity of race, ethnicity, and gender.
Peter B. Orthwein, Chairman of the Board of Directors, stated:
"Thor's Board of Directors recognizes the importance of diversity within its ranks. Although the Board has followed this policy in prior director searches, the Board has formally adopted this policy to serve as an expression and reaffirmation of its dedication to drive that diversity."
About Thor Industries
Thor Industries, through its subsidiaries, designs, manufactures, and sells recreational vehicles, and related parts and accessories primarily in the United States and Canada. It operates through Towable Recreational Vehicles and Motorized Recreational Vehicles segments. The Company markets its recreational vehicles through independent dealers. Thor Industries was founded in 1980 and is based in Elkhart, Indiana.
Stock Performance
At the closing bell, on Thursday, October 19, 2017, Thor Industries' stock slightly slipped 0.26%, ending the trading session at $130.36. A total volume of 450.24 thousand shares have exchanged hands. The Company's stock price skyrocketed 25.12% in the last three months, 42.00% in the past six months, and 59.03% in the previous twelve months. Moreover, the stock soared 30.29% since the start of the year. The stock is trading at a PE ratio of 18.38 and has a dividend yield of 1.01%. The stock currently has a market cap of $6.80 billion.
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