Acme United announces quarterly cash dividend

SHELTON, Conn. - Acme United Corporation (NYSE American: ACU), a global supplier of safety solutions and cutting technology, has declared a quarterly cash dividend of 15 cents per share. This dividend is set to be paid on October 24, 2024, to shareholders of record as of October 4, 2024.

The announcement comes as Acme United continues to position itself as a key player in the market for safety and cutting products. The company's portfolio includes a variety of brands such as First Aid Only®, PhysiciansCare®, and Westcott®, catering to sectors ranging from school and office supplies to hardware and industrial markets.

This dividend declaration is a routine part of Acme United's financial operations, reflecting its ongoing commitment to delivering shareholder value. Dividends are a way for companies to distribute a portion of their earnings back to shareholders, and Acme United has a history of providing these periodic returns to its investors.

It is important to note that forward-looking statements made by the company are subject to various risks and uncertainties. These include changes in global economic conditions, the impact of inflation and interest rates, as well as supply chain disruptions that could affect the business. Investors are advised to consider these factors, as actual results could differ from current expectations.

The company has also highlighted potential challenges such as labor costs, currency fluctuations, and the need to adapt to technological changes and consumer spending habits. Competition and international trade policies are additional factors that could influence Acme United's performance.

This dividend announcement is based on the company's current financial health and strategic plans. As with all investment decisions, shareholders and potential investors should conduct their due diligence, keeping in mind the various external factors that could impact the company's future results.

The information reported here is based on a press release statement from Acme United Corporation.

In other recent news, Acme United Corporation has been the subject of noteworthy developments. Singular Research upgraded Acme United's stock rating from "Buy-Venture" to "Buy," despite a slight decrease in the price target from $53.00 to $50.00. This revision follows the company's impressive 29% year-over-year earnings growth for the recent quarter. The firm expects Acme United to continue growing, driven by new product introductions and contributions from recent acquisitions.

Acme United has also reported a robust performance for the second quarter of 2024, with Q2 sales rising by 4% to $55.4 million and net income increasing by 29% to $4.5 million. Earnings per share improved by 14% to $1.09. The company's strategic moves, such as the sale of its hunting and fishing lines and the acquisition of Elite First Aid, have positioned it for further growth.

These are among the recent developments for Acme United, a company that continues to focus on innovation and strategic acquisitions, as reflected in its recent financial performance.

InvestingPro Insights

Acme United Corporation's recent dividend announcement is a testament to its financial stability and commitment to shareholder returns. The company has not only maintained dividend payments for an impressive 21 consecutive years but has also raised its dividend for the last three years, signaling confidence in its financial position and future prospects.

InvestingPro data reveals that Acme United reported a gross profit of $75.93 million with a gross profit margin of 39.4% for the last twelve months as of Q2 2024. These figures underscore the company's ability to maintain profitability in a competitive market. Moreover, the company's strong return over the last five years, with a one-year price total return of 45.45%, reflects its resilience and strategic market positioning.

InvestingPro Tips highlight that Acme United's liquid assets exceed its short-term obligations, providing it with a solid financial cushion to navigate market uncertainties. Additionally, the company has been profitable over the last twelve months, which aligns with its consistent dividend history. For investors looking for more insights, there are additional InvestingPro Tips available at https://www.investing.com/pro/ACU, providing a more comprehensive analysis of Acme United's financial health.

With a fair value estimate of $58 as indicated by analyst targets, Acme United's current strategic moves and financial metrics may appeal to investors seeking stable income through dividends and long-term growth potential. The next earnings date slated for October 22, 2024, will be an important event for shareholders and potential investors to gain further insights into the company's performance and strategic direction.

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