SAN DIEGO - WD-40 Company (NASDAQ:WDFC), known for its multi-use maintenance products, announced an increase in its quarterly dividend and scheduled its earnings conference call for the first quarter of 2025. The company's board of directors declared a 7% increase in the quarterly dividend to $0.94 per share, payable on January 31, 2025, to shareholders of record as of January 17, 2025. According to InvestingPro data, this marks the company's 9th consecutive year of dividend increases, with an impressive 32-year streak of maintaining dividend payments.
The upcoming earnings conference call, set for Thursday, January 9, 2025, at 2:00 p.m. PST, will provide an opportunity for management to discuss not only the financial results but also business developments and other factors influencing the company. The call may also cover forward-looking statements or material information pertaining to WD-40's operations. InvestingPro analysis shows the company maintains a strong financial health score of 2.85 (rated as GOOD), with liquid assets exceeding short-term obligations and a comfortable debt level.
Interested parties can access a live webcast of the conference call on the investor relations section of the company's website, where it will also be archived for one year post-call. The quarterly earnings press release is expected to be issued after the market closes on the same day as the call.
WD-40 Company has a diverse portfolio of brands and products that serve a variety of maintenance and cleaning needs globally. With headquarters in San Diego, California, the company reported net sales of $590.6 million for the fiscal year 2024, achieving a robust revenue growth of 9.92% over the last twelve months. WD-40's products are available in over 176 countries and territories, underlining its international presence. Based on InvestingPro's Fair Value analysis, the stock currently appears to be trading above its Fair Value, with additional insights available in the comprehensive Pro Research Report.
This dividend increase and the upcoming earnings call are based on a press release statement from WD-40 Company.
In other recent news, WD-40 Company reported strong fourth-quarter sales, marking an 11% year-over-year increase to $156 million. The company's full-year sales of the WD-40 Multi-Use Product also rose by 11%, reaching $453 million. These developments follow DA Davidson's sustained positive outlook on the company, maintaining a Buy rating with a steady price target of $322. The company's executives expressed confidence in their strategy to accelerate revenue growth, anticipating a year-over-year increase of 6%-11% in revenues for fiscal year 2025. Notably, WD-40 plans to divest its household cleaners business in the first half of fiscal 2025, which is expected to reduce annual sales by $23 million. Despite a 4% decrease in U.S. sales compared to the previous year, the company's strategy is credited with accelerating top-line growth. Lastly, the company projects net sales growth of 6% to 11% for fiscal year 2025, targeting $600 million to $630 million in constant currency sales.
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