We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties. You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies. In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Curtiss-Wright (CW) Rewards Investors With Buyback, Ups Dividend
Read MoreHide Full Article
Curtiss-Wright Corporation (CW - Free Report) announced that its board of directors approved a hike in its quarterly dividend to 21 cents per share, reflecting an increase of 5% from the prior payout. With the current hike, Curtiss-Wright will now pay out an annual dividend of 84 cents per share.
This signifies Curtiss-Wright’s strength in the business to generate enough cash flow to reward shareholders with improved dividend payouts.
Curtiss-Wright Enhances Shareholders Value
Curtiss-Wright’s emphasis on returning cash to shareholders is backed by a disciplined and balanced capital allocation strategy and is buoyed by its ability to deploy capital effectively. Curtiss-Wright has been returning cash to shareholders through share repurchases and dividend hikes, thus highlighting consistency in sharing profits with its shareholders.
Along with dividend payments, Curtiss-Wright’s management continues to increase shareholders’ value by repurchasing shares. In the first three months of 2024, the company repurchased shares worth $12.2 million. The board of directors authorized an additional $300 million for share repurchases, increasing the total available authorization to $400 million under the repurchase program.
Such a stable return strategy is backed by its ability to generate strong revenues and free cash flows. Curtiss-Wright expects a surge of 5-7% in total sales and projects 8% to 11% growth in earnings in 2024. The company anticipates the free cash flow to increase in the range of 0-5% in 2024.
All three business segments of Curtiss-Wright are showing strong growth, which is boosting its earnings. Apart from organic growth, the acquisition of WSC Inc will further expand Curtiss-Wright’s commercial nuclear business. It will create more opportunities for Curtiss-Wright to support its long-term financial goal and generate more revenues.
The company is committed to expanding its business through organic methods and strategic acquisitions. The improving end market conditions and rising demand for the high-quality products offered by Curtiss-Wright will continue to generate profits, which can be utilized to increase shareholders' value in future periods.
Peer Moves
Other defense companies are also rewarding their investors through dividend payments and hikes at regular intervals. These defense majors are benefiting from a strong U.S. defense budget and a stable flow of contracts from the Pentagon.
In October 2023, Lockheed Martin (LMT - Free Report) approved a hike in its quarterly dividend of 15 cents per share from the prior payout.
LMT boasts a long-term earnings growth rate of 4.2%. Lockheed’s shares have inched up 1.6% in the past year.
On May 10, 2024, Northrop Grumman Corp. (NOC - Free Report) announced that the board of directors declared a 10% increase in the quarterly dividend to $2.06 per share.
NOC has a long-term earnings growth rate of 9.9%. NOC’s shares have risen 4.9% in the past year.
On May 2, 2024, RTX Technologies (RTX - Free Report) announced an increase of 6.8% over the prior quarter's dividend amount.
RTX has a long-term earnings growth rate of 10.3%. Raytheon’s shares have increased 8.9% in the past year.
Price Movement
In the past three months, shares of Curtiss-Wright have risen 18.3% compared with its industry‘s average decline of 0.6%.
Image: Bigstock
Curtiss-Wright (CW) Rewards Investors With Buyback, Ups Dividend
Curtiss-Wright Corporation (CW - Free Report) announced that its board of directors approved a hike in its quarterly dividend to 21 cents per share, reflecting an increase of 5% from the prior payout. With the current hike, Curtiss-Wright will now pay out an annual dividend of 84 cents per share.
This signifies Curtiss-Wright’s strength in the business to generate enough cash flow to reward shareholders with improved dividend payouts.
Curtiss-Wright Enhances Shareholders Value
Curtiss-Wright’s emphasis on returning cash to shareholders is backed by a disciplined and balanced capital allocation strategy and is buoyed by its ability to deploy capital effectively. Curtiss-Wright has been returning cash to shareholders through share repurchases and dividend hikes, thus highlighting consistency in sharing profits with its shareholders.
Along with dividend payments, Curtiss-Wright’s management continues to increase shareholders’ value by repurchasing shares. In the first three months of 2024, the company repurchased shares worth $12.2 million. The board of directors authorized an additional $300 million for share repurchases, increasing the total available authorization to $400 million under the repurchase program.
Such a stable return strategy is backed by its ability to generate strong revenues and free cash flows. Curtiss-Wright expects a surge of 5-7% in total sales and projects 8% to 11% growth in earnings in 2024. The company anticipates the free cash flow to increase in the range of 0-5% in 2024.
All three business segments of Curtiss-Wright are showing strong growth, which is boosting its earnings. Apart from organic growth, the acquisition of WSC Inc will further expand Curtiss-Wright’s commercial nuclear business. It will create more opportunities for Curtiss-Wright to support its long-term financial goal and generate more revenues.
The company is committed to expanding its business through organic methods and strategic acquisitions. The improving end market conditions and rising demand for the high-quality products offered by Curtiss-Wright will continue to generate profits, which can be utilized to increase shareholders' value in future periods.
Peer Moves
Other defense companies are also rewarding their investors through dividend payments and hikes at regular intervals. These defense majors are benefiting from a strong U.S. defense budget and a stable flow of contracts from the Pentagon.
In October 2023, Lockheed Martin (LMT - Free Report) approved a hike in its quarterly dividend of 15 cents per share from the prior payout.
LMT boasts a long-term earnings growth rate of 4.2%. Lockheed’s shares have inched up 1.6% in the past year.
On May 10, 2024, Northrop Grumman Corp. (NOC - Free Report) announced that the board of directors declared a 10% increase in the quarterly dividend to $2.06 per share.
NOC has a long-term earnings growth rate of 9.9%. NOC’s shares have risen 4.9% in the past year.
On May 2, 2024, RTX Technologies (RTX - Free Report) announced an increase of 6.8% over the prior quarter's dividend amount.
RTX has a long-term earnings growth rate of 10.3%. Raytheon’s shares have increased 8.9% in the past year.
Price Movement
In the past three months, shares of Curtiss-Wright have risen 18.3% compared with its industry‘s average decline of 0.6%.
Image Source: Zacks Investment Research
Zacks Rank
Curtiss-Wright currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.