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4-Traders Homepage  >  Equities  >  Nyse  >  Lindsay Corporation    LNN

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LINDSAY CORP : Lindsay Corporation Increases Cash Dividend

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07/18/2011 | 05:35pm EST

Lindsay Corporation (NYSE: LNN), a leading provider of irrigation systems and infrastructure products, announced today that its Board of Directors has declared a 6 percent increase in its regular quarterly cash dividend to $0.09 per share, payable August 31, 2011, to shareholders of record on August 17, 2011. The regular quarterly cash dividend was previously $0.085 per share. The new annual indicated rate is $0.36 per share, up from the previous annual indicated rate of $0.34 per share.

About the Company

Lindsay manufactures and markets irrigation equipment primarily used in agricultural markets which increase or stabilize crop production while conserving water, energy, and labor. The Company also manufactures and markets infrastructure and road safety products through its wholly owned subsidiaries, Barrier Systems Inc. and Snoline S.P.A. At July 5, 2011, Lindsay had approximately 12.6 million shares outstanding, which are traded on the New York Stock Exchange under the symbol LNN.

For more information regarding Lindsay Corporation, see Lindsay's Web site at www.lindsay.com. For more information on the Company's infrastructure products, visit www.barriersystemsinc.com and www.snoline.com.

Concerning Forward-looking Statements

This release contains forward-looking statements that are subject to risks and uncertainties and which reflect management's current beliefs and estimates of future economic circumstances, industry conditions, company performance and financial results. You can find a discussion of many of these risks and uncertainties in the annual, quarterly and current reports that the Company files with the Securities and Exchange Commission. Forward-looking statements include information concerning possible or assumed future results of operations of the Company and those statements preceded by, followed by or including the words "anticipate," "estimate," "believe," "intend," "expect," "outlook," "could," "may," "should," "will," or similar expressions. For these statements, the Company claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. The Company undertakes no obligation to update any forward-looking information contained in this press release.

Lindsay Corporation:
Jim Raabe, 402-827-6579
Vice President & Chief Financial Officer
or
Halliburton Investor Relations:
Hala Elsherbini or Geralyn DeBusk, 972-458-8000


© Business Wire 2011
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Financials ($)
Sales 2017 514 M
EBIT 2017 47,4 M
Net income 2017 30,4 M
Debt 2017 5,00 M
Yield 2017 1,31%
P/E ratio 2017 31,44
P/E ratio 2018 28,58
EV / Sales 2017 1,84x
EV / Sales 2018 1,72x
Capitalization 941 M
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Mean consensus HOLD
Number of Analysts 8
Average target price 85,3 $
Spread / Average Target -3,7%
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Managers
NameTitle
Richard W. Parod President, Chief Executive Officer & Director
Michael C. Nahl Chairman
Brian L. Ketcham Chief Financial Officer & Vice President
William F. Welsh Independent Director
Michael N. Christodolou Independent Director
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