Franklin Electric announced a quarterly dividend increase of 6%, marking 33 years of consecutive increases.
Quiver AI Summary
Franklin Electric Co., Inc. announced a quarterly cash dividend of $0.265 per share, reflecting a 6 percent increase from the previous dividend, to be paid on February 20, 2025, to shareholders recorded as of February 6, 2025. This marks the 33rd consecutive year of dividend increases, underscoring the company's commitment to shareholder returns and confidence in its business outlook. Franklin Electric is a leading global provider of systems and components for moving water and energy and has been recognized for its responsible business practices. The announcement also includes a cautionary note regarding forward-looking statements, highlighting various risks that may impact future financial performance.
Potential Positives
- Franklin Electric has declared a quarterly cash dividend of $0.265 per share, representing a 6 percent increase from the prior quarterly dividend.
- This dividend increase marks the 33rd consecutive year that Franklin Electric has raised its dividend, illustrating the company's strong commitment to returning cash to shareholders.
- The company has received recognition in Newsweek’s lists of America’s Most Responsible Companies and Most Trustworthy Companies for 2024, enhancing its reputation in corporate responsibility and trustworthiness.
- Franklin Electric was also named in USA Today's America’s Climate Leaders 2024, highlighting its commitment to sustainability and climate issues.
Potential Negatives
- The press release highlights significant risks and uncertainties that could impact the company's future performance, indicating that actual results may differ materially from forward-looking statements, which could raise concerns among investors.
- While the increase in dividends shows commitment, the mention of various economic risks may offset investor confidence and lead to skepticism about the company's stability in uncertain market conditions.
FAQ
What is the amount of the quarterly cash dividend announced by Franklin Electric?
The quarterly cash dividend declared by Franklin Electric is $0.265 per share.
When will the dividend be payable to shareholders?
The dividend will be payable on February 20, 2025.
How many consecutive years has Franklin Electric increased its dividend?
This dividend marks the 33rd consecutive year of dividend increases for Franklin Electric.
What recognition has Franklin Electric received in 2024?
Franklin Electric has been named in Newsweek’s lists of America’s Most Responsible Companies and USA Today’s America’s Climate Leaders 2024.
Where can I find more information about the company's financial performance?
Additional information can be found in Franklin Electric's SEC filings, including the Annual Report on Form 10-K.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$FELE Insider Trading Activity
$FELE insiders have traded $FELE stock on the open market 5 times in the past 6 months. Of those trades, 0 have been purchases and 5 have been sales.
Here’s a breakdown of recent trading of $FELE stock by insiders over the last 6 months:
- GREGG C SENGSTACK (Executive Chairperson) has made 0 purchases and 4 sales selling 16,896 shares for an estimated $1,774,269.
- JONATHAN M. GRANDON (Chief Administrative Officer) sold 2,219 shares for an estimated $228,605
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$FELE Hedge Fund Activity
We have seen 157 institutional investors add shares of $FELE stock to their portfolio, and 150 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- VAUGHAN NELSON INVESTMENT MANAGEMENT, L.P. removed 361,654 shares (-100.0%) from their portfolio in Q3 2024, for an estimated $37,908,572
- MORGAN STANLEY added 282,667 shares (+29.9%) to their portfolio in Q3 2024, for an estimated $29,629,154
- NUVEEN ASSET MANAGEMENT, LLC added 209,317 shares (+123.3%) to their portfolio in Q3 2024, for an estimated $21,940,607
- FIRST MERCHANTS CORP removed 197,819 shares (-100.0%) from their portfolio in Q3 2024, for an estimated $20,735,387
- ALLIANZ ASSET MANAGEMENT GMBH removed 173,578 shares (-20.6%) from their portfolio in Q3 2024, for an estimated $18,194,445
- ASSENAGON ASSET MANAGEMENT S.A. removed 154,621 shares (-87.8%) from their portfolio in Q4 2024, for an estimated $15,067,816
- ROBECO SCHWEIZ AG removed 107,915 shares (-52.3%) from their portfolio in Q3 2024, for an estimated $11,311,650
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
FORT WAYNE, Ind., Jan. 27, 2025 (GLOBE NEWSWIRE) -- Franklin Electric Co., Inc. (NASDAQ: FELE) announced today that its Board of Directors declared a quarterly cash dividend of $0.265 per share payable February 20, 2025, to shareholders of record on February 6, 2025. This represents a 6 percent increase from the prior quarterly dividend. This dividend will mark the 33 rd consecutive year that Franklin Electric has increased its dividend, demonstrating its commitment to returning cash to shareholders and confidence in the outlook of the business.
About Franklin Electric
Franklin Electric is a global leader in the production and marketing of systems and components for the movement of water and energy. Recognized as a technical leader in its products and services, Franklin Electric serves customers around the world in residential, commercial, agricultural, industrial, municipal, and fueling applications. Franklin Electric is proud to be named in Newsweek’s lists of America’s Most Responsible Companies and Most Trustworthy Companies for 2024 and America’s Climate Leaders 2024 by USA Today.
“Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995. Any forward-looking statements contained herein, including those relating to market conditions or the Company’s financial results, costs, expenses or expense reductions, profit margins, inventory levels, foreign currency translation rates, liquidity expectations, business goals and sales growth, involve risks and uncertainties, including but not limited to, risks and uncertainties with respect to general economic and currency conditions, various conditions specific to the Company’s business and industry, weather conditions, new housing starts, market demand, competitive factors, changes in distribution channels, supply constraints, effect of price increases, raw material costs, technology factors, integration of acquisitions, litigation, government and regulatory actions, the Company’s accounting policies, future trends, epidemics and pandemics, and other risks which are detailed in the Company’s Securities and Exchange Commission filings, included in Item 1A of Part I of the Company’s Annual Report on Form 10-K for the fiscal year ending December 31, 2023, Exhibit 99.1 attached thereto and in Item 1A of Part II of the Company’s Quarterly Reports on Form 10-Q. These risks and uncertainties may cause actual results to differ materially from those indicated by the forward-looking statements. All forward-looking statements made herein are based on information currently available, and the Company assumes no obligation to update any forward-looking statements.
CONTACT: | Jeffery L. Taylor | |
Franklin Electric Co., Inc. | ||
[email protected] |