Lindsay Increases Quarterly Dividend By 3%
Portfolio Pulse from Shivani Kumaresan
Lindsay Corp (NYSE:LNN) has announced a 3% increase in its quarterly cash dividend to $0.35 per share, up from the previous rate of $0.34 per share. The dividend will be payable on August 31, 2023, to shareholders of record as of August 17, 2023. The new annual indicated rate is $1.40 per share. As of June 26, 2023, Lindsay Corporation had approximately 11.0 million shares outstanding and held $144.4 million in cash and equivalents as of May 31, 2023.
July 07, 2023 | 12:13 pm
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POSITIVE IMPACT
Lindsay Corp's decision to increase its quarterly cash dividend by 3% could be seen as a positive sign by investors, potentially leading to an increase in the company's stock price.
Dividend increases are often seen as a sign of a company's strong financial health. As such, this news could lead to increased investor confidence in Lindsay Corp, potentially driving up the company's stock price in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 100