Quanta Services Initiates Quarterly Dividend To Woo Investors
Zacks Investment Research | Dec 10, 2018 12:26AM ET
Ushering in good news for Quanta Services, Inc.’s (NYSE:PWR) shareholders, the company has initiated quarterly dividend. The company will pay initial quarterly dividend of 4 cents per share on Jan 26, 2019 to its shareholder of record as of Jan 2.
The dividend yield, based on the last closing market price, is approximately 0.51%. Per Quanta Services, it wished to increase the amount of dividend over time.
Duke Austin, president and CEO of Quanta Services, said “Our decision to initiate a dividend demonstrates our continued confidence in the stability of Quanta's base business, long-term growth prospects, solid financial position and commitment to enhancing stockholder value.” As of Sep 30, 2018, Quanta Services’ cash and cash equivalents totaled $113.5 million.
Notably, dividend not only enhances shareholder returns but also raises the market value of the stock. In fact, companies often tend to attract new investors and retain the old ones through this strategy. In the past six months, shares of the company have lost 14.9% compared with the Zacks Investment Research
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.