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Donaldson increases quarterly cash dividend to $0.27

Donaldson Company Inc (NYSE: DCI) said on Friday that its Board of Directors had authorized a quarterly cash dividend of $0.27 per share of common stock.

The latter represents an increase of 8% compared to the previous quarterly dividend of $0.25 per share.

The dividend will be paid on June 28th to shareholders of record as of the close of business on June 17th 2024, the company said.

Stock Performance

The shares of Donaldson Company Inc (DCI) closed 1.45% ($1.05) higher at $73.68 in New York on Friday, as they extended the gain from the previous market session.

The company’s total market cap now stands at $8.869 billion.

The shares of Donaldson Company Inc (DCI) surged 11.01% in 2023, compared with a 10.99% gain for the benchmark index, NYSE Composite (NYA).

The company’s shares have risen 12.75% so far this year.

Analyst stock price forecast and recommendation

According to TipRanks, at least 1 out of 2 surveyed investment analysts had rated Donaldson Company Inc’s stock as “Buy”, while other 1 – as “Sell”. The median price target on the stock stands at $71.00, which translates into a 3.64% downside compared to the closing price on Friday.

The high point of the analyst forecast range stands at $80.00.

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