Unveiling the Dividend Profile of Hurco Companies Inc
A Comprehensive Analysis of Hurco Companies Inc's Dividend Performance and Sustainability
Hurco Companies Inc(NASDAQ:HURC) recently announced a dividend of $0.16 per share, payable on 2023-10-16, with the ex-dividend date set for 2023-09-29. As investors look forward to this upcoming payment, the spotlight also shines on the company's dividend history, yield, and growth rates. Using the data from GuruFocus, let's deep dive into Hurco Companies Incs dividend performance and assess its sustainability.
What Does Hurco Companies Inc Do?
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Hurco Companies Inc is a United States-based industrial technology company. It designs, manufactures, and sells computerized machine tools, consisting mainly of vertical machining centers and turning centers, to companies in the metal working industry through sales, service and distribution network. The company concentrated on designing user-friendly computer control systems that can be operated by both skilled and unskilled machine tool operators. It generates maximum revenue from the Computerized Machine Tools product. Geographically, it derives a majority of revenue from the United States of America. Its product categories include 5-Axis VMC; 3-Axis VMC; Horizontal MC and Turning Centers.
A Glimpse at Hurco Companies Inc's Dividend History
Hurco Companies Inc has maintained a consistent dividend payment record since 2013. Dividends are currently distributed on a quarterly basis. Hurco Companies Inc has increased its dividend each year since 2013. The stock is thus listed as a dividend achiever, an honor that is given to companies that have increased their dividend each year for at least the past 10 years. Below is a chart showing annual Dividends Per Share for tracking historical trends.
Breaking Down Hurco Companies Inc's Dividend Yield and Growth
As of today, Hurco Companies Inc currently has a 12-month trailing dividend yield of 2.89% and a 12-month forward dividend yield of 2.97%. This suggests an expectation of increase dividend payments over the next 12 months. Over the past three years, Hurco Companies Inc's annual dividend growth rate was 7.90%. Extended to a five-year horizon, this rate increased to 8.60% per year.
Based on Hurco Companies Inc's dividend yield and five-year growth rate, the 5-year yield on cost of Hurco Companies Inc stock as of today is approximately 4.37%.