RBC Bearings Announces Special Dividend - Analyst Blog

In an effort to increase shareholders returns, RBC Bearings Inc. ROLL recently announced the approval of a special dividend of $2.00 per share, totaling $46.0 million. The dividend will be paid on Jun 13, 2014, to shareholders of record on May 30.

As a result, shares of RBC Bearings closed at $59.07 on May 16, up 1.32% from the previous day. Total shares traded on the day came in at 91,612.

The company boasts a strong balance sheet along with significant cash flow, which paved the way for the approval of the dividend. Enhancing shareholders' returns as well as expanding the business remains the priority of the company.

RBC Bearings is expected to release its fiscal fourth-quarter 2014 (ended Mar 2014) results on May 28, before the market opens. The Zacks Consensus Estimate for the quarter stands at 71 cents, while that for fiscal 2014 stands at $2.56 per share, reflecting a year-over-year growth rate of 2.90% and 5.14%, respectively.

Headquartered in Oxford, CN, RBC Bearings manufactures and distributes plain, roller and ball bearings. These bearings are tools that reduce damage and energy loss and enable proper power transmission in the majority of machines and mechanical systems.

With a market capitalization of $1.35 billion, the company holds a Zacks Rank #3 (Hold). Some better-ranked stocks worth considering in the same industry include NN Inc. NNBR, Timken Co. TKR and Blount International Inc. BLT. While NN Inc. sports a Zacks Rank #1 (Strong Buy), both Timken and Blount International hold a Zacks Rank #2 (Buy).

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