Alta Equipment Group sets quarterly dividend at $0.057 per share

LIVONIA, Mich. - Alta Equipment Group Inc. (NYSE: ALTG), a provider of material handling and construction equipment, has declared a quarterly dividend of $0.057 per share, representing an annual dividend yield of 5.09%. Shareholders on record by May 15, 2025, will be eligible for the dividend, which is payable on May 30, 2025. According to InvestingPro data, the company maintains this significant dividend despite facing challenging market conditions, with its stock down nearly 60% over the past year.

The company, which operates an extensive network of equipment dealerships across North America, offers a range of specialized equipment for sale and rent. This includes lift trucks, earthmoving equipment, and environmental processing machinery, among others. Alta has been in the equipment dealership business for 41 years and boasts over 85 locations in multiple U.S. states and Canadian provinces. With a market capitalization of $148.7 million and total debt of $1.2 billion, InvestingPro analysis reveals several important factors affecting the company’s performance. Get access to 12 additional exclusive ProTips and comprehensive financial analysis through InvestingPro’s detailed research reports.

This dividend announcement follows Alta’s established practice of providing returns to its shareholders and reflects the company’s financial strategies, though InvestingPro’s Financial Health Score indicates some challenges ahead. The information is based on a press release statement from Alta Equipment Group.

In other recent news, Alta Equipment Group reported a decline in its fourth-quarter revenue for 2024, falling 4.5% year-over-year to $498.1 million. The full-year revenue remained flat at $1.88 billion compared to the previous year. The company also announced adjusted EBITDA for 2024 at $168.3 million, down from $201 million in 2023. DA Davidson maintained a Buy rating for Alta Equipment Group with a price target of $11.00, noting that the company’s quarterly sales exceeded their estimates by $23 million, largely due to a strong performance in the Construction Equipment sector. However, DA Davidson analyst Matt Summerville later revised the price target to $9.00 while maintaining the Buy rating, citing the need to adjust EBITDA forecasts for 2025 and introducing preliminary estimates for 2026. Alta Equipment Group’s guidance for 2025 projects adjusted EBITDA between $175 million and $190 million, reflecting expectations of modest growth amid current market conditions. The company remains focused on cost optimization, having implemented measures that save approximately $8 million annually. Despite challenges in the construction equipment market, Alta Equipment Group continues to pursue strategic initiatives aimed at improving productivity and profitability.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.