MILWAUKEE - Zurn Elkay Water Solutions Corporation (NYSE: ZWS), a company specializing in water management solutions, has declared a quarterly dividend of $0.08 per share. This dividend is scheduled to be paid in cash on June 7, 2024, to shareholders on record by May 20, 2024.
The announcement was made today and is part of the company's regular dividend payments to its stockholders. Zurn Elkay has positioned itself in the market as a provider of a wide range of water solutions, aiming to enhance health, hydration, safety, and environmental sustainability through its products.
The dividend declaration follows the company's continuous efforts to deliver value to its shareholders while maintaining its commitment to sustainable practices in water management. Zurn Elkay's product portfolio includes items designed for both public and private spaces, encompassing water safety and control, flow systems, hygienic products, and filtered drinking water solutions.
The company, with its headquarters in Milwaukee, Wisconsin, emphasizes the breadth of its product offerings and its focus on specification-driven solutions. Zurn Elkay's market approach is centered on growth and sustainability, which they believe sets them apart in the industry.
Investors are reminded that forward-looking statements made by the company are subject to risks and uncertainties, and actual results may differ from those currently anticipated. The company has stated that it does not undertake any obligation to update forward-looking statements, which are based on information available as of the date of the release.
The information regarding the dividend is based on a press release statement from Zurn Elkay Water Solutions Corporation. Shareholders and interested parties are encouraged to consult the company's filings with the SEC, including its most recent Form 10-K, for a comprehensive understanding of the business's performance and risk factors.
InvestingPro Insights
Zurn Elkay Water Solutions Corporation (NYSE: ZWS) has demonstrated a strong financial performance with a notable InvestingPro Tip highlighting a perfect Piotroski Score of 9, indicating excellent financial health. This is a critical metric for investors looking for companies with solid fundamentals.
Moreover, analysts have shown confidence in the company's earnings potential, with 6 analysts revising their earnings estimates upwards for the upcoming period, which may signal anticipated performance improvement.
From a valuation standpoint, Zurn Elkay's current P/E ratio stands at 43.9, with an adjusted P/E ratio for the last twelve months as of Q1 2024 at 39.15. This is paired with an attractive PEG Ratio of 0.42 for the same period, suggesting that the company's earnings growth could be undervalued relative to its peers. The company's strong revenue growth of 8.34% over the last twelve months as of Q1 2024 reinforces the positive outlook.
For investors seeking further insights, there are additional InvestingPro Tips available on InvestingPro, which delve into Zurn Elkay's future profitability and earnings growth. Remember, subscribers can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, providing access to even more in-depth analysis and metrics.
With a market capitalization of $5.42 billion and a dividend yield of 1.02%, the company's commitment to shareholder returns is evident. The dividend announcement aligns with Zurn Elkay's history of consistent dividend payments, reflecting its stable financial standing and the potential for ongoing shareholder value creation.
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