MINNEAPOLIS - Graco Inc . (NYSE:GGG), a company specializing in fluid and coating management technology, has announced a regular quarterly dividend of 25.5 cents per common share. The dividend is scheduled to be paid on May 1, 2024, to shareholders who are on record as of April 15, 2024. Currently, Graco has approximately 168.4 million shares outstanding.
Graco Inc., headquartered in Minneapolis, is known for providing technology and expertise in the management of fluids and coatings for industrial and commercial applications. The company designs, manufactures, and markets equipment that is used to move, measure, control, dispense, and spray fluid and powder materials. Serving a global market, Graco's products are utilized across diverse industries, including manufacturing, processing, construction, and maintenance.
This announcement is based on a press release statement from Graco Inc.
InvestingPro Insights
As Graco Inc. (NYSE:GGG) maintains its commitment to rewarding shareholders with a regular quarterly dividend, the company's financial health and market performance provide a broader context for investors. According to InvestingPro data, Graco has a market capitalization of 14.95B USD, reflecting its substantial presence in the industry. The company's P/E ratio stands at 29.64, indicating investor expectations for future earnings. Furthermore, Graco's robust gross profit margin of 52.88% over the last twelve months as of Q1 2023 demonstrates its efficiency in managing costs relative to its revenue.
Delving into the InvestingPro Tips, Graco's financial prudence is highlighted by the fact that it holds more cash than debt on its balance sheet, suggesting a strong liquidity position. Additionally, the company has a notable track record of raising its dividend for 18 consecutive years, showcasing its commitment to providing consistent returns to its investors. For those interested in a deeper analysis, there are 16 additional InvestingPro Tips available, offering insights that could further guide investment decisions.
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