Thor Industries Rewards Shareholders with 5% Dividend Hike
Recreational vehicles manufacturer Thor Industries, Inc. (THO) recently announced a quarterly dividend of $0.43 per share, an increase of about 5% from the previous dividend of $0.41.
Following the news, shares of the company appreciated marginally to close at $124.21 on Friday.
The dividend will be paid on November 5, 2021 to shareholders of record as of October 22, 2021.
The company’s annual dividend of $1.72 per share reflects a dividend yield of 1.4% based on Friday’s closing price.
Notably, the company has been raising its quarterly dividend consistently over the past eight years, making it an attractive choice for investors. (See THOR stock chart on TipRanks)
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Recently, BMO Capital analyst Gerrick Johnson reiterated a Buy rating on the stock. The analyst, however, raised the price target from $160 to $166, which implies upside potential of 33.6% from current levels.
Consensus among analysts is a Strong Buy based on 3 Buys and 1 Hold. The average THOR price target of $149.50 implies upside potential of 20.4% from current levels.
THOR scores a 6 out of 10 from TipRanks’ Smart Score rating system, indicating that the stock is likely to perform in line with market expectations. Shares have gained 30.8% over the past year.
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