Dana Inc (NYSE:DAN) announced a quarterly dividend on Thursday, February 14th, Wall Street Journal reports. Investors of record on Friday, March 1st will be paid a dividend of 0.10 per share by the auto parts company on Friday, March 22nd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date is Thursday, February 28th.
Dana has increased its dividend payment by an average of 20.3% annually over the last three years and has raised its dividend annually for the last 4 consecutive years. Dana has a dividend payout ratio of 13.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Dana to earn $3.21 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 12.5%.
Get Dana alerts:Shares of NYSE:DAN traded up $0.25 during mid-day trading on Thursday, reaching $17.31. The stock had a trading volume of 2,376,413 shares, compared to its average volume of 1,759,439. The company has a market capitalization of $2.47 billion, a price-to-earnings ratio of 6.88, a P/E/G ratio of 1.81 and a beta of 1.90. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.65 and a quick ratio of 1.04. Dana has a twelve month low of $12.65 and a twelve month high of $29.03.
A number of analysts recently weighed in on DAN shares. JPMorgan Chase & Co. upgraded shares of Dana from a “neutral” rating to an “overweight” rating and set a $24.00 price target on the stock in a research report on Friday, October 19th. Bank of America downgraded shares of Dana from a “buy” rating to a “neutral” rating and set a $21.00 price target on the stock. in a research report on Thursday, October 18th. Zacks Investment Research downgraded shares of Dana from a “hold” rating to a “sell” rating in a research report on Thursday, January 3rd. KeyCorp set a $20.00 price target on shares of Dana and gave the company a “buy” rating in a research report on Friday, January 18th. Finally, Barclays set a $23.00 price target on shares of Dana and gave the company a “buy” rating in a research report on Friday, January 4th. One research analyst has rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the stock. Dana presently has a consensus rating of “Hold” and an average target price of $21.91.
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About Dana
Dana Incorporated provides drive and motion products, sealing solutions, thermal-management technologies, and fluid-power products to vehicle and engine manufacturer in North America, Europe, South America, and the Asia Pacific. The company operates in four segments: Light Vehicle Driveline Technologies, Commercial Vehicle Driveline Technologies, Off-Highway Driveline Technologies, and Power Technologies.
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