Specialty Products Maker Brady Increases Annual Dividend By 2%
Portfolio Pulse from Shivani Kumaresan
Brady Corp (NYSE:BRC) has announced a 2.2% increase in its annual dividend to shareholders, from $0.92 to $0.94 per share. This marks the 38th consecutive annual increase in dividends. The company also reported a slight decline in Q3 FY23 sales and raised the lower end of its FY23 EPS outlook. Brady will report 4Q FY23 earnings today.
September 05, 2023 | 10:47 am
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NEUTRAL IMPACT
Brady Corp's announcement of a dividend increase and raised EPS outlook could be seen as positive by investors. However, the slight decline in Q3 FY23 sales may cause some concern.
The increase in dividends and raised EPS outlook indicate a positive financial position for Brady Corp, which could attract investors and potentially drive the stock price up. However, the slight decline in sales could be a cause for concern, potentially offsetting the positive news and keeping the stock price stable.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100