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Tecnoglass (TGLS) Rewards Investors With 20% Dividend Hike
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Tecnoglass Inc. (TGLS - Free Report) announced an increase in the dividend payout, which reflects its financial growth and ability to deliver long-term shareholder value.
The board of directors approved a 20% hike in its quarterly cash dividend to 9 cents per share (36 cents annually) from 7.5 cents (30 cents annually). The new dividend will be paid out on Apr 28 to shareholders of record as of Mar 31, 2023. The dividend yield, based on TGLS’ Mar 13 closing price, is approximately 0.91%.
The share price of TGLS increased 0.53% during the trading session on Mar 13.
Consistent Dividend Payouts
Tecnoglass has mostly shown an increasing trend in its dividend payouts, having raised the same in the last three years. The company’s strong capital position, high liquidity, robust backlog, working capital management and gains in market share in its shorter cash cycle single-family residential business are the driving factors behind the dividend hike.
As of Dec 31, 2022, the company had total liquidity of $270 million, which includes cash and cash equivalents of $103.7 million and $170 million available under its committed revolving credit facilities. Net leverage ratio at 2022-end was 0.2 compared with 0.8 at 2021-end, depicting the lower trend of company’s debt financing.
Total backlog of the company as of Dec 31, 2022 was $725.2 million, increasing 24% year over year. This reflects the long-term growth prospects of the company and will enable it to maintain its strong cash flow and create additional shareholder value in 2023 and ahead.
This producer of architectural glass and windows and aluminum products for the residential and commercial construction industries continues to benefit from the resiliency of the vertically integrated business model and from earlier implemented high-return automation and capacity enhancements. Also, footprint expansion in single-family residential through product innovation and the opening of new showrooms bodes well.
Image Source: Zacks Investment Research
Shares of Tecnoglass have risen 80.8% over the past six months, outperforming the Zacks Building Products - Retail industry’s growth of 7.1%.
Some other top-ranked stocks in the Zacks Retail-Wholesale sector are:
Chuy's Holdings, Inc. (CHUY - Free Report) currently sports a Zacks Rank #1. CHUY delivered a trailing four-quarter earnings surprise of 19.1%, on average. Shares of CHUY have risen 45.7% in the past six months.
The Zacks Consensus Estimate for CHUY’s 2023 sales and EPS suggests growth of 10.8% and 19%, respectively, from the corresponding year-ago period’s levels.
Arcos Dorados Holdings Inc. (ARCO - Free Report) carries a Zacks Rank #2 (Buy). ARCO has a long-term earnings growth rate of 11.6%. Shares of the company have increased 5.5% in the past six months.
The Zacks Consensus Estimate for ARCO’s 2023 sales and EPS suggests growth of 8.1% and 4.2%, respectively, from the year-ago period’s levels.
Brinker International, Inc. (EAT - Free Report) carries a Zacks Rank #2. EAT has a long-term earnings growth rate of 7.1%. The stock has increased 19.5% in the past six months.
The Zacks Consensus Estimate for EAT’s fiscal 2023 sales suggests growth of 8.2% but EPS suggests decline of 12%, respectively, from the year-ago period’s reported levels.
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Tecnoglass (TGLS) Rewards Investors With 20% Dividend Hike
Tecnoglass Inc. (TGLS - Free Report) announced an increase in the dividend payout, which reflects its financial growth and ability to deliver long-term shareholder value.
The board of directors approved a 20% hike in its quarterly cash dividend to 9 cents per share (36 cents annually) from 7.5 cents (30 cents annually). The new dividend will be paid out on Apr 28 to shareholders of record as of Mar 31, 2023. The dividend yield, based on TGLS’ Mar 13 closing price, is approximately 0.91%.
The share price of TGLS increased 0.53% during the trading session on Mar 13.
Consistent Dividend Payouts
Tecnoglass has mostly shown an increasing trend in its dividend payouts, having raised the same in the last three years. The company’s strong capital position, high liquidity, robust backlog, working capital management and gains in market share in its shorter cash cycle single-family residential business are the driving factors behind the dividend hike.
As of Dec 31, 2022, the company had total liquidity of $270 million, which includes cash and cash equivalents of $103.7 million and $170 million available under its committed revolving credit facilities. Net leverage ratio at 2022-end was 0.2 compared with 0.8 at 2021-end, depicting the lower trend of company’s debt financing.
Total backlog of the company as of Dec 31, 2022 was $725.2 million, increasing 24% year over year. This reflects the long-term growth prospects of the company and will enable it to maintain its strong cash flow and create additional shareholder value in 2023 and ahead.
This producer of architectural glass and windows and aluminum products for the residential and commercial construction industries continues to benefit from the resiliency of the vertically integrated business model and from earlier implemented high-return automation and capacity enhancements. Also, footprint expansion in single-family residential through product innovation and the opening of new showrooms bodes well.
Image Source: Zacks Investment Research
Shares of Tecnoglass have risen 80.8% over the past six months, outperforming the Zacks Building Products - Retail industry’s growth of 7.1%.
Zacks Rank & Other Key Picks
Tecnoglass currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Some other top-ranked stocks in the Zacks Retail-Wholesale sector are:
Chuy's Holdings, Inc. (CHUY - Free Report) currently sports a Zacks Rank #1. CHUY delivered a trailing four-quarter earnings surprise of 19.1%, on average. Shares of CHUY have risen 45.7% in the past six months.
The Zacks Consensus Estimate for CHUY’s 2023 sales and EPS suggests growth of 10.8% and 19%, respectively, from the corresponding year-ago period’s levels.
Arcos Dorados Holdings Inc. (ARCO - Free Report) carries a Zacks Rank #2 (Buy). ARCO has a long-term earnings growth rate of 11.6%. Shares of the company have increased 5.5% in the past six months.
The Zacks Consensus Estimate for ARCO’s 2023 sales and EPS suggests growth of 8.1% and 4.2%, respectively, from the year-ago period’s levels.
Brinker International, Inc. (EAT - Free Report) carries a Zacks Rank #2. EAT has a long-term earnings growth rate of 7.1%. The stock has increased 19.5% in the past six months.
The Zacks Consensus Estimate for EAT’s fiscal 2023 sales suggests growth of 8.2% but EPS suggests decline of 12%, respectively, from the year-ago period’s reported levels.