ITT (NYSE:ITT) Announces Dividend Payment of $0.319

The board of ITT Inc. (NYSE:ITT) has made an exciting announcement for shareholders – a dividend increase to $0.319 per share, payable on the 1st of July. While this may seem like a modest boost with a dividend yield of 1.0%, it is still a positive development for investors.

Prior to this announcement, ITT’s dividend was well covered by both cash flow and earnings, indicating a strong financial position. With a projected 45.5% growth in EPS for the next year, the payout ratio could potentially be a sustainable 18% by then.

ITT has a solid track record of stable dividend payments, with a growth rate of about 12% annually since 2014. This consistent growth in distributions is a valuable feature for income-seeking investors.

Furthermore, the company has seen EPS rise by 8.2% per year over the last five years, indicating a positive outlook for future dividend growth. With a low payout ratio, ITT is well-positioned to continue increasing its dividend payments.

Overall, ITT’s dividend increase is a positive sign for investors, highlighting the company’s strong financial performance and commitment to rewarding shareholders. As always, it is important for investors to consider all factors before making investment decisions, but ITT’s track record and growth prospects make it a compelling income stock to watch.