Acuity Brands Declares Quarterly Dividend
Atlanta, Sept.28, 2023 – Acuity Brands, Inc.(NYSE: AYI; Company) has announced that its Board of Directors has declared a quarterly dividend of 13 cents per share.This dividend is payable on November 1, 2023, to shareholders of record on October 18, 2023.As of the writing of this article, Acuity Brands Inc’s 12 Months dividend payout ratio for the third quarter of 2023 stands at 4.48%, reflecting a decrease from the previous quarter.It is worth noting that this decrease is unsurprising given the consistent rise in earnings per share for Acuity Brands Inc.With the current payout ratio remaining below the company’s average, the question arises as to whether Acuity Brands Inc will increase the dividend in the near future.
When comparing Acuity Brands Inc’s performance to its peers in the Consumer Discretionary sector, it becomes evident that there are 64 companies with a higher 12 Months dividend payout ratio.This suggests that Acuity Brands Inc may have room for potential dividend growth, as it currently ranks higher than 1417 among all other companies in the second quarter of 2023.
This latest quarterly dividend announcement showcases Acuity Brands Inc’s commitment to rewarding its shareholders while maintaining a prudent dividend payout ratio.As the company continues to experience an increase in earnings per share, investors may have reason to anticipate a potential dividend increase in the coming quarters.
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