Lindsay Corporation (NYSE: NYSE:LNN) and Wabtec Corporation (NYSE: WAB) have announced their respective quarterly dividends on Friday. Both companies are industry leaders in their fields, with Lindsay focusing on irrigation and infrastructure technology, and Wabtec providing services, equipment, and digital solutions to various industries including freight, transit rail, mining, marine and industrial markets.
Lindsay Corporation declared a quarterly cash dividend of $0.35 per share for shareholders registered by November 16, 2023, payable on November 30, 2023. As of Monday, the company had approximately 11 million outstanding shares traded on the New York Stock Exchange. Established in 1955, Lindsay Corporation is a global leader in the manufacture and distribution of irrigation and infrastructure technology. The company's innovative solutions address escalating global needs through industrial IoT and a family of irrigation brands including Zimmatic™, FieldNET™, FieldWise™, FieldNET Advisor™. Additionally, Lindsay enhances road safety with equipment under its Barrier Systems™, Road Zipper™, and Snoline™ brands.
According to InvestingPro data, Lindsay Corporation has a market cap of 1270M USD and a P/E ratio of 17.51. The company has been profitable over the last twelve months and holds more cash than debt on its balance sheet, as per InvestingPro Tips. This strong financial position has allowed the company to maintain dividend payments for 28 consecutive years and to increase earnings per share consistently.
On the other hand, Wabtec Corporation announced a regular quarterly common dividend of 17 cents per share. The dividend was decided by its Board of Directors and will be payable on November 29, 2023, to shareholders recorded by November 15. With a vision of zero-emission rail systems worldwide, Wabtec aims to transform transportation for future generations. Having been an industry leader for over 150 years, the company continues to provide value-added services not only to freight and transit rail industries but also to mining, marine and industrial markets.
Wabtec Corporation, with a market cap of 17.85B USD and a P/E ratio of 26.64 according to InvestingPro data, has been profitable over the last twelve months. The company has maintained dividend payments for 29 consecutive years and has been experiencing accelerating revenue growth. These insights, part of the InvestingPro Tips, suggest that the company is in a good position to continue its dividend payments.
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