As the day concludes, Patrick Industries PATK is preparing to distribute a dividend payout of $0.55 per share, resulting in an annualized dividend yield of 2.65%. This payout is exclusive to investors who held the stock before the ex-dividend date on November 24, 2023.
Patrick Industries Recent Dividend Payouts
| Ex-Date | Payments per year | Dividend | Yield | Announced | Record | Payable |
|---|---|---|---|---|---|---|
| 2023-11-24 | 4 | $0.55 | 2.65% | 2023-11-15 | 2023-11-27 | 2023-12-11 |
| 2023-08-25 | 4 | $0.45 | 2.23% | 2023-08-17 | 2023-08-28 | 2023-09-11 |
| 2023-06-09 | 4 | $0.45 | 2.63% | 2023-05-25 | 2023-06-12 | 2023-06-26 |
| 2023-02-17 | 4 | $0.45 | 2.33% | 2023-02-06 | 2023-02-21 | 2023-03-06 |
| 2022-11-25 | 4 | $0.45 | 3.38% | 2022-11-11 | 2022-11-28 | 2022-12-12 |
| 2022-08-26 | 4 | $0.33 | 2.3% | 2022-08-10 | 2022-08-29 | 2022-09-12 |
| 2022-05-27 | 4 | $0.33 | 2.02% | 2022-05-13 | 2022-05-31 | 2022-06-13 |
| 2022-03-04 | 4 | $0.33 | 1.91% | 2022-02-22 | 2022-03-07 | 2022-03-21 |
| 2021-11-26 | 4 | $0.33 | 1.63% | 2021-11-12 | 2021-11-29 | 2021-12-13 |
| 2021-08-27 | 4 | $0.28 | 1.29% | 2021-08-13 | 2021-08-30 | 2021-09-13 |
| 2021-05-28 | 4 | $0.28 | 1.23% | 2021-05-14 | 2021-06-01 | 2021-06-14 |
| 2021-03-05 | 4 | $0.28 | 1.37% | 2021-02-24 | 2021-03-08 | 2021-03-22 |
In terms of dividend yield, Patrick Industries finds itself in the middle ground among its industry peers, while Phinia PHIN takes the lead with the highest annualized dividend yield at 3.76%.
Analyzing Patrick Industries Financial Health
Companies that pay out steady cash dividends are attractive to income-seeking investors, and companies that are financially healthy tend to maintain their dividend payout schedule. For this reason, investors can find it insightful to see if a company has been increasing or decreasing their dividend payout schedule and if their earnings are growing.
YoY Growth in Dividend Per Share
During the period of 2020 to 2022, the company experienced a notable growth in its dividend per share. The dividend per share increased from $1.03 to $1.44, reflecting the company's focus on providing greater returns to its shareholders.
YoY Earnings Growth For Patrick Industries
The earnings chart illustrates an increase in Patrick Industries's earnings per share, from $3.96 in 2020 to $14.38 in 2022. This positive earnings growth provides income-seeking investors with optimism, as it suggests potential for higher cash dividend payouts in the future.
Recap
This article provides an in-depth analysis of Patrick Industries's recent dividend distribution and the impact it has on shareholders. The company is currently distributing a dividend of $0.55 per share, resulting in an annualized dividend yield of 2.65%.
In terms of dividend yield, Patrick Industries finds itself in the middle ground among its industry peers, while Phinia takes the lead with the highest annualized dividend yield at 3.76%.
Given that Patrick Industries has experienced an increase in dividend per share from 2020 to 2022 along with an increase in earnings per share, it could signal that the company is in good financial standing and that they could be positioned to continue distributing their profits back to their investors.
To stay well-informed about potential changes in financials or dividend disbursements, investors should closely observe the company's performance in the upcoming quarters.
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This article was generated by Benzinga's automated content engine and reviewed by an editor.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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