Curtiss-Wright announces quarterly dividend of $0.21 per share

DAVIDSON, N.C. - Curtiss-Wright Corporation (NYSE:CW), a global provider of highly engineered products and services to the Aerospace & Defense markets, has declared a quarterly dividend of $0.21 per share. The dividend is payable on December 3, 2024, to shareholders of record at the close of business on November 22, 2024.

This announcement follows Curtiss-Wright's tradition of returning value to its shareholders and reflects the company's financial health and commitment to its investors. Curtiss-Wright has consistently paid dividends, which is a sign of the company's stable financial position and its ability to generate cash flow.

The corporation, with a workforce of approximately 8,600, prides itself on developing and designing what it considers the best-engineered solutions for the markets it serves, including commercial power, process, and industrial sectors, in addition to its primary focus on aerospace and defense.

Curtiss-Wright's origins date back to the achievements of aviation pioneers Glenn Curtiss and the Wright brothers, and the company has built a reputation for innovation and customer trust over the years.

The information regarding the dividend is based on a press release statement from Curtiss-Wright Corporation. Shareholders and potential investors are encouraged to consider this latest dividend declaration as they assess the company's performance and investment potential.

In other recent news, Curtiss-Wright Corporation has shown strong financial performance with their recent quarter reflecting double-digit organic growth, primarily driven by high demand in its Defense Electronics and Naval & Power segments. This success has led financial services firm Stifel to raise its price target for Curtiss-Wright shares from $361 to $370, while maintaining a Buy rating. Truist Securities also increased its price target for the company to $333.00, continuing its Hold rating on the stock.

Despite potential softness predicted by Stifel in the fourth quarter of 2024, Curtiss-Wright's order book remains strong, supporting a mid-single-digit growth outlook for 2025. The company also expects significant increases in commercial nuclear revenue, with projections indicating that this revenue stream will double by 2028.

Recent developments include Curtiss-Wright's third quarter of 2024 earnings report, revealing a 10% year-over-year sales increase to nearly $800 million, along with a 17% increase in diluted EPS and a 19% rise in free cash flow. In light of these results, the company has raised its full-year 2024 guidance, now anticipating sales growth of 7% to 9% and diluted EPS growth of 12% to 15%. These developments underline the company's robust market position, with strategic investments and partnerships, particularly in the commercial nuclear and defense sectors, driving this growth.

InvestingPro Insights

Curtiss-Wright Corporation's recent dividend declaration aligns with its strong financial performance and commitment to shareholder value. According to InvestingPro data, the company boasts a market capitalization of $14.63 billion and has demonstrated impressive revenue growth of 9.42% over the last twelve months as of Q3 2024. This growth trajectory supports the company's ability to maintain its dividend payments.

An InvestingPro Tip reveals that Curtiss-Wright has raised its dividend for 7 consecutive years, underscoring the company's dedication to returning value to shareholders. This consistent dividend growth, coupled with a current dividend yield of 0.22%, may appeal to income-focused investors.

The company's financial health is further evidenced by its robust profitability metrics. With an operating income margin of 18.59% and a gross profit margin of 37.05% for the last twelve months, Curtiss-Wright demonstrates efficient operations and strong pricing power in its aerospace and defense markets.

It's worth noting that Curtiss-Wright's stock has shown remarkable performance, with a one-year price total return of 81.31% as of the latest data. This significant appreciation reflects investor confidence in the company's strategic direction and growth prospects.

For investors seeking a deeper understanding of Curtiss-Wright's potential, InvestingPro offers 18 additional tips, providing a comprehensive analysis of the company's financial position and market outlook.

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