NACCO Industries (NYSE:NC) announced that its board has authorized a stock repurchase program, which allows the company to buyback $25.00 million in outstanding shares on Wednesday, February 14th, EventVestor reports. This buyback authorization allows the company to buy shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.
NACCO Industries (NYSE NC) traded down $1.85 on Wednesday, reaching $39.90. 36,069 shares of the company traded hands, compared to its average volume of 29,289. The company has a current ratio of 3.28, a quick ratio of 2.72 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $283.42, a price-to-earnings ratio of 9.03 and a beta of 0.44. NACCO Industries has a 52-week low of $14.45 and a 52-week high of $48.85.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Thursday, March 1st will be issued a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 1.65%. The ex-dividend date is Wednesday, February 28th. NACCO Industries’s dividend payout ratio (DPR) is presently 42.53%.
About NACCO Industries
NACCO Industries, Inc is a holding company. The Company’s principal business includes mining. The Company operates through the NACoal segment. The Company’s subsidiary includes The North American Coal Corporation (NACoal). The Company’s NACoal segment mines coal for use in power generation and provides mining services for other natural resources companies.
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