SHELTON, Conn. - Acme United Corporation (NYSE American: ACU), a leading supplier of safety solutions and cutting technology, announced a cash dividend of 15 cents per share, representing a 1.39% yield. The dividend is slated for payment on January 27, 2025, to shareholders who are on record as of January 6, 2025. According to InvestingPro data, the company has maintained dividend payments for 21 consecutive years, with increases in the last 4 years.
This declaration follows the company's consistent practice of rewarding its shareholders and reflects its financial health, with a strong current ratio of 4.41 and last twelve months revenue of $190.49 million. Acme United, with a diverse portfolio that includes brands like First Aid Only®, Westcott®, and PhysiciansCare®, caters to various markets such as school, home, office, hardware, sporting goods, and industrial sectors. The company has demonstrated robust performance with a 29.48% price return over the past six months.
Despite the announcement, investors are reminded of the forward-looking nature of such statements. For deeper insights into Acme United's financial health and detailed analysis, InvestingPro subscribers can access comprehensive research reports and additional ProTips that provide valuable investment context. The company cautions that actual outcomes may differ due to various risks and uncertainties, including economic conditions, inflation, interest rates, global conflicts, supply chain disruptions, labor costs, currency fluctuations, inventory management, consumer spending habits, competition, technological changes, and international trade policies.
These forward-looking statements are made under the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. The company's future plans and strategies are subject to change, and there is no assurance that the anticipated results will be achieved.
Investors are advised to consider these factors, detailed in the company's filings with the Securities and Exchange Commission, when evaluating Acme United's performance and dividend prospects. This information is based on a press release statement from Acme United Corporation.
In other recent news, Acme United Corporation reported mixed financial results for Q3 of 2024. Despite challenges, the company witnessed a slight increase in net income to $2.2 million, up 3% from the previous year. However, overall sales saw a 4% decline to $48.2 million, and earnings per share fell from $0.58 to $0.54. These changes were significantly influenced by the divestiture of the Cuda and Camillus business lines in late 2023.
Acme United also introduced innovative First Aid products and integrated the Elite First Aid product line into its offerings. Despite a decrease in sales in Canada and potential supply chain disruptions, the company experienced gains in other areas. Sales for the First Aid business in the U.S. were slightly above last year, and sales in Europe saw a 15% increase in local currency.
The company anticipates continued strong earnings and cash flow for the rest of the year and is positioned to make accretive acquisitions. Despite the challenging global macroeconomic environment, Acme United remains resilient with a focus on strengthening its balance sheet. These are some of the recent developments shaping the company's journey.
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