Argan, Inc. Plans Quarterly Dividend of $0.25 (AGX)

Argan, Inc. (NYSE:AGX) announced a quarterly dividend on Thursday, April 11th, Wall Street Journal reports. Shareholders of record on Monday, April 22nd will be paid a dividend of 0.25 per share by the construction company on Tuesday, April 30th. This represents a $1.00 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date of this dividend is Thursday, April 18th.

Argan has raised its dividend by an average of 2.3% annually over the last three years and has raised its dividend annually for the last 2 consecutive years. Argan has a dividend payout ratio of 25.9% indicating that its dividend is sufficiently covered by earnings.

AGX traded down $0.59 during trading on Thursday, reaching $50.00. The company had a trading volume of 210,677 shares, compared to its average volume of 135,245. Argan has a 52 week low of $34.90 and a 52 week high of $51.95. The company has a market cap of $782.74 million, a PE ratio of 12.73 and a beta of 0.96.

Separately, Lake Street Capital boosted their price target on Argan from $56.00 to $62.00 and gave the stock a “positive” rating in a research note on Thursday.

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Argan Company Profile

Argan, Inc, through its subsidiaries, provides engineering, procurement, construction, commissioning, operations management, maintenance, development, technical, and consulting services to the power generation and renewable energy markets. The company's Power Industry Services segment offers engineering, procurement, and construction contracting services to the owners of alternative energy facilities, such as biomass plants, wind farms, and solar fields; and design, construction, project management, start-up, and operation services for 44 projects with approximately 15,000 megawatts of power-generating capacity.

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Dividend History for Argan (NYSE:AGX)

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