Unlocking Value and Investor Rewards: Patrick Industries Thrives with Strong Performance and Growing Profits
Portfolio Pulse from Benzinga Insights
Patrick Industries (NASDAQ:PATK) is set to distribute a dividend of $0.55 per share with an annualized yield of 2.65%. The ex-dividend date was November 24, 2023. The company has shown growth in dividends per share from $1.03 in 2020 to $1.44 in 2022 and an increase in earnings per share from $3.96 in 2020 to $14.38 in 2022. Phinia (NYSE:PHIN) leads the industry with a 3.76% dividend yield.
December 11, 2023 | 3:05 pm
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NEUTRAL IMPACT
Phinia has the highest annualized dividend yield in the industry at 3.76%, surpassing Patrick Industries.
While Phinia has a higher dividend yield, the news focuses on Patrick Industries, and there's no direct indication of a change in Phinia's dividends or financials.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Patrick Industries is distributing a $0.55/share dividend, reflecting a positive trend in dividend growth and earnings per share.
The increase in dividends and earnings per share indicates financial health and may attract income-seeking investors, potentially driving up the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100