SHELTON, CT - Hubbell Incorporated (NYSE:HUBB), a prominent manufacturer of electrical and utility solutions, has announced a regular quarterly dividend of $1.22 per share on its common stock. The dividend is scheduled to be distributed on June 17, 2024, to shareholders who are on record as of May 31, 2024.
The company, which reported revenues of $5.4 billion in 2023, specializes in products that ensure the reliable and efficient operation of critical infrastructure. Hubbell's offerings play a key role in powering economies and communities, with a focus on both the supply side (in front of the meter) and demand side (behind the meter) of electricity.
The information provided here is based on a press release statement from Hubbell Incorporated.
Shareholders of Hubbell Incorporated can expect to receive the declared dividend in mid-June, provided they hold shares by the end of May. The company's stock is traded on the New York Stock Exchange under the ticker symbol HUBB.
InvestingPro Insights
Hubbell Incorporated's (NYSE:HUBB) recent dividend announcement is complemented by a robust financial performance and a strong commitment to shareholder returns. According to InvestingPro data, Hubbell has a market capitalization of $21.99 billion and maintains a solid P/E ratio of 28.95, reflecting a healthy balance between its share price and earnings. The company's consistent revenue growth, with an 8.59% increase over the last twelve months as of Q1 2023, underlines its operational success and market confidence.
An InvestingPro Tip highlights Hubbell's impressive track record of raising its dividend for 16 consecutive years, which signals a reliable and potentially growing income stream for investors. Moreover, the company is trading at a low P/E ratio relative to near-term earnings growth, suggesting that the stock could be undervalued given its earnings potential. This could be an attractive point for investors seeking value in a market that often prices growth at a premium.
For investors interested in further analysis and additional InvestingPro Tips, Hubbell Incorporated has 17 more tips listed on InvestingPro. Readers looking to gain more insights can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, offering a deeper dive into the company's financial health and investment potential.
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