AGX - Ex-Dividend Alert: Argan Has a Dividend Yield of 2.56%; Will Trade Ex-Dividend on July 23 2018
LONDON, UK / ACCESSWIRE / July 20, 2018 / Active-Investors has a free review on Argan, Inc. (NYSE: AGX) following the Company’s announcement that it will begin trading ex-dividend on July 23, 2018. To capture the dividend payout, investors must purchase the stock a day prior to the ex-dividend date (excluding weekend) that is by latest at the end of the trading session on July 20, 2018. Active-Investors has initiated due-diligence on this dividend stock. Register with us for more free research including the one on AGX:
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Dividend Declared
On June 26, 2018, Argan announced that on June 21, 2018, its Board of Directors declared a regular quarterly cash dividend in the amount of $0.25 per share of common stock, payable July 31, 2018, to stockholders of record at the close of business on July 24, 2018
Argan’s indicated dividend represents a yield of 2.56%, which is more than double compared to the average dividend yield of 1.14% for the Industrial Goods sector.
Dividend Insights
Argan has a dividend payout ratio of 25.9%, which denotes that the Company spends approximately $0.26 for dividend distribution out of 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, Argan is forecasted to report earnings of 2.84 per share for the next year, which is more than double compared to the Company’s annualized dividend payout of $1.00 per share.
As of April 30, 2018, Argan’s cash, cash equivalents, and short-term investments totaled $366 million and net liquidity was $300 million. Additionally, the Company had no bank debt. 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 Argan
On June 26, 2018, Gemma Power Systems, LLC (GPS), a wholly owned subsidiary of Argan, and Chickahominy Power, LLC announced an Engineering, Procurement and Construction (EPC) services contract to construct the Chickahominy Power Station, a 1,600 MW state-of-the-art natural gas-fired power plant, in Charles City County, Virginia.
The Chickahominy Power Station is named to honor the Chickahominy Nation, an indigenous people that has populated the lands in east central Virginia near Richmond for centuries. The project is anticipated to get underway in Q1 2019 and expected to be completed in the spring of 2022.
As per the press release, the project is expected to provide 800 to 1,000 skilled construction jobs and 35 permanent positions to operate the facility once it is completed.
About Argan, Inc.
Argan, through its subsidiaries, provides engineering, procurement, construction, commissioning, operations management, maintenance, development, technical, and consulting services to the power generation and renewable energy markets.
Argan, was founded in 1961 and is headquartered in Rockville, Maryland.
Stock Performance Snapshot
July 19, 2018 - At Thursday’s closing bell, Argan’s stock rose 2.45%, ending the trading session at $39.70.
Volume traded for the day: 116.40 thousand shares.
Stock performance in the last month — up 12.15%; and previous three-month period — up 3.25%
After yesterday’s close, Argan’s market cap was at $628.05 million.
Price to Earnings (P/E) ratio was at 11.29.
The stock has a dividend yield of 2.52%.
The stock is part of the Industrial Goods sector, categorized under the Heavy Construction industry. This sector was up 0.2% at the end of the session.
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