LIVONIA, Mich. - Alta Equipment Group Inc. (NYSE: NYSE:ALTG), a provider of material handling and construction equipment, has declared a quarterly dividend of $0.057 per share. The dividend is payable on May 31, 2024, to shareholders of record as of May 15, 2024.
Alta Equipment Group, known for its extensive dealership network across North America, offers sales, rental, parts, and service support for a variety of specialized equipment. This includes lift trucks, earthmoving machinery, environmental processing equipment, and more. The company has over 85 locations in several U.S. states and Canadian provinces, serving a diverse range of industries with its comprehensive product offerings.
This dividend announcement follows Alta's tradition of providing returns to its shareholders and reflects the company's financial practices. The specific dividend payment is part of a routine fiscal strategy to distribute earnings to investors, aligning with Alta's historical approach to shareholder value.
Investors typically view regular dividends as a sign of a company's stability and profitability, and Alta's announcement may be of interest to current and potential shareholders. It is important to note that dividend payments are subject to change and depend on the company's earnings, financial health, and other factors.
The information for this report is based on a press release statement from Alta Equipment Group Inc.
InvestingPro Insights
Alta Equipment Group Inc. (NYSE: ALTG) continues to demonstrate its commitment to shareholder returns with the recent dividend declaration. In light of this, a glance at the company's financial health through InvestingPro metrics offers a deeper understanding of its position.
As of the last twelve months ending Q4 2023, Alta Equipment Group boasted a significant revenue growth of 19.4%, with a gross profit margin of 27.02%, reflecting its ability to maintain profitability in its operations. Despite the market cap standing at a modest $370.89M, the company's P/E ratio is relatively high at 62.97, suggesting a premium valuation by the market.
From an investment standpoint, two InvestingPro Tips that are particularly pertinent to shareholders and potential investors are the company's significant debt burden and the analysts' prediction that Alta Equipment Group will be profitable this year. These insights, coupled with the company's revenue growth, could signal a continued effort to leverage its financial structure for growth, while also managing to deliver on profitability expectations.
For those considering deeper analysis, there are additional InvestingPro Tips available, which include expectations about net income growth and stock price volatility. These tips can provide a more nuanced view of the company's financial trajectory. To explore these further, investors can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription at InvestingPro. Currently, there are 6 more tips listed on InvestingPro for Alta Equipment Group, which could offer valuable insights for making informed investment decisions.
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