Garmin declares quarterly dividend of $0.73 per share, 9% increase from prior dividend of $0.67
June 14, 2022
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Garmin Ltd.($NYSE:GRMN) This announcement comes as Garmin continues to experience strong growth in several key areas. Looking ahead, Garmin is well positioned to continue its strong performance. The company has a diversified product portfolio that includes leading GPS devices for automotive, aviation, marine, and outdoor applications. Additionally, Garmin is benefiting from the growing trend of consumers using their smartphones for fitness and health tracking. Garmin’s strong financial position also provides flexibility to continue investing in new product development and strategic acquisitions. This acquisition will bolster Garmin’s position in the growing market for wearable fitness devices. With a history of strong dividend growth and a bright outlook for the future, Garmin is an attractive option for income-seeking investors.
On Monday, GARMIN stock opened at $97.1 and closed at $97.5, down by 2.4% from prior closing price of 99.9.
The company’s fundamentals reflect its long-term potential. Below is an analysis of GARMIN, made simple by VI app. VI Star Chart shows that GARMIN is strong in asset, profit, growth, and dividend. GARMIN has a high health score of 8/10 with regard to its cashflows and debt, is capable to pay off debt and fund future operations. GARMIN is classified as ‘gorilla’, a type of company that achieved stable and high revenue or earning growth due to its strong competitive advantage. At the right price, it is suitable for those who want to invest for high capital gains. High-growth companies are deemed more risky as they attempt to grow faster.
The news of the dividend hike sent the stock price down 2.4% the following day. Despite the stock price dip, we believe that Garmin is a strong long-term investment. The company has a diversified product portfolio and a proven track record of delivering strong financial results. In addition, Garmin’s dividend yield of 2.4% is attractive, especially in today’s low interest rate environment.
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