Share price of Wabash National Corporation (NYSE:WNC) gained 6.9% to $20.65 after the company announced a hike in quarterly cash dividend during trading on Dec 18. The company’s board has approved this raise on common stock to 7.5 cents from the earlier payout of 6 cents.
The revised dividend will be paid on Jan 25, 2018 to stockholders of record as of Jan 4, 2018.
On a sequential basis, the dividend raise represents an increase of 1.5 cents or 25%. The last quarterly dividend of 6 cents was paid on Oct 26, 2017 to the stockholders of record as of Oct 5, 2017.
Wabash National Corporation Price and Consensus
The rise in dividend payment shows the board’s confidence in Wabash National’s strategic growth plan for a secure future. Further, it also reflects the company’s commitment to boost shareholders value.
Price Performance
Over a month, shares of Wabash National have outperformed the industry it belongs to. The stock has gained 7.2% compared with the industry’s decline of 0.3% during the period.
Zacks Rank & Key Picks
The expected long-term growth rate of Wabash National is 21.5% and the stock carries a Zacks Rank #3 (Hold).
A few better-ranked stocks in the auto space are Toyota Motor Corporation (NYSE:TM) , AB Volvo (OTC:VLVLY) and Honda Motor Company (NYSE:HMC) . While both Toyota and Volvo sport a Zacks Rank #1 (Strong Buy), Honda carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Toyota has an expected long-term growth rate of 6.2%. In the last three months, shares of the company have been up 5.8%.
Volvo has an expected long-term growth rate of 15%. Year to date, shares of the company have surged 63.8%.
Honda has an expected long-term growth rate of 3.8%. In the last three months, shares of the company have rallied 14.7%.
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Honda Motor Company, Ltd. (HMC): Free Stock Analysis Report
Toyota Motor Corp Ltd Ord (TM): Free Stock Analysis Report
Wabash National Corporation (WNC): Free Stock Analysis Report
Volvo Ab (VLVLY): Free Stock Analysis Report
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