Barnes Group Pays 22% Of Its Profit As Dividend

Barnes Group Inc.

said that its board has declared a quarterly cash dividend of $0.13 per share. On a full year basis, the dividend worked out to $0.52. The dividend represented that the company pays about 22 percent of its profit as dividend, which was higher than the five-year average payout ratio of 18 percent. Barnes Group that it fixed August 25 as the record date and that the dividend would be paid on September 9 to shareholders. The company claimed that along with its predecessor companies, it has been paying a cash dividend since 1934 on a continuous basis to its shareholders. In the last five year, the company boosted its dividend rate. As a result, its dividend growth rate for the five-year average was 9.02 percent while it was 7.02 percent for the three-year average period. The dividend offered 1.4 percent yield, which was also higher than the five-year average yield of 1.3 percent. Shares of the company traded 0.63 percent up on Thursday.