Apogee Enterprises hikes dividend by 4%
Apogee Enterprises, Inc. (APOG) has announced an increase in its quarterly dividend, raising it by 4% to $0.26 per share. At the current stock price of $50.75, this translates to a dividend yield of approximately 2.1%.
The company’s upcoming dividend has an ex-dividend date of January 28, 2025, and will be paid out on February 12, 2025. This marks the latest in Apogee’s ongoing commitment to returning capital to shareholders. Last year, the company implemented a slightly higher dividend increase of 4.2%.
Dividend Overview:
New Quarterly Dividend: $0.26 per share
Annualized Dividend: $1.04 per share
Estimated Annual Dividend Payout: $23 million
Dividend Yield: ~2.1% (at $50.75 per share)
The dividend hike comes amidst a challenging year for Apogee Enterprises. Following its most recent earnings report, the stock saw a sharp decline of 19%, with its year-to-date performance down by 29%. Currently trading near its 52-week low, the stock has faced increased scrutiny from investors. APOG has now raised the dividend 12 consecutive years.
Despite the downturn in stock performance, Apogee’s dividend increase may reflect confidence in its long-term operational and financial stability. Shareholders will likely assess whether this move signals resilience amid broader market pressures or an effort to bolster investor sentiment during a difficult period.
Stay tuned for further updates on Apogee Enterprises as the dividend date approaches and the company’s performance unfolds.
