MILWAUKEE - Brady Corporation (NYSE: BRC), a global manufacturer and marketer of identification and protection solutions with a market capitalization of $3.62 billion, announced the unanimous election of new directors to its board at the annual shareholders' meeting held today. The elected directors include retired and current executives from prominent companies across various industries.
The new members of the Brady Corporation Board of Directors are Patrick W. Allender, Dr. David S. Bem, Dr. Elizabeth P. Bruno, Joanne Collins Smee, Deidre E. Cusack, Christopher M. Hix, Vineet Nargolwala, Bradley C. Richardson, and Dr. Michelle E. Williams. Russell R. Shaller, the company's President and CEO, will continue in his role.
In addition to the board election, Brady Corporation's board declared a dividend of $0.24 per share for Class A Common Stock shareholders, payable on January 31, 2025, to shareholders of record as of January 10, 2025. According to InvestingPro, Brady has raised its dividend for 29 consecutive years, demonstrating strong commitment to shareholder returns.
Founded in 1914, Brady has a diverse customer base and serves industries such as electronics, telecommunications, manufacturing, electrical, construction, medical, aerospace, and others. The company's fiscal 2024 sales reached approximately $1.34 billion, with impressive gross margins of 51%. Brady employs about 5,700 people worldwide and is headquartered in Milwaukee, Wisconsin. InvestingPro analysis suggests the stock is currently trading near Fair Value, with a "Great" financial health score. Access the comprehensive Pro Research Report for deeper insights into Brady's financial performance and growth potential.
The information in this article is based on a press release statement from Brady Corporation.
In other recent news, Brady Corporation has reported robust financial outcomes in its Fiscal 2025 First Quarter Earnings Call. The company announced a 3.6% organic sales growth and an 11% increase in adjusted pre-tax earnings, with adjusted diluted earnings per share rising by 12% to $1.12. Despite potential economic challenges such as a strengthening US dollar and inflationary pressures, Brady Corporation maintains an optimistic stance about future growth.
The company also launched a bundled product, combining the i5300 printer with the V4500 Barcode Scanner, demonstrating an ongoing commitment to innovation. Notably, the Americas & Asia region experienced a 5.1% organic sales growth, while Europe & Australia returned to growth at 0.7%. However, segment profit in Europe & Australia declined by 21.7% to $13.1 million.
Brady Corporation anticipates low-single-digit organic sales growth for the fiscal year and maintains a full-year adjusted EPS guidance of $4.40 to $4.70. Despite a significant decline of over 6% in China's sales, the company reported nearly 18% growth in other Asian markets. The company's leadership expressed commitment to delivering shareholder value through dividends and share buybacks. These are some of the recent developments for Brady Corporation.
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