WAJAX CORP. $35.46 (Toronto symbol WJX; TSINetwork Rating: Extra Risk) (905-212-3300; www.wajax.ca; Shares outstanding:16.8 million; Market cap: $595.0 million; Dividend yield: 6.8%) sells and services cranes, forklifts and other heavy equipment. It also provides related parts (such as bearings, motors, hoses and fittings) and power systems (including diesel engines and transmissions).
The company’s customers are in the natural resource, construction, manufacturing and transportation industries.
In the three months ended September 30, 2014, Wajax’s revenue rose 6.2%, to $359.5 million from $338.5 million a year earlier. All of its segments reported higher sales, including mining and forestry.
Excluding one-time items, earnings gained 15.7%, to $13.3 million, or $0.79 a share, from $11.5 million, or $0.69. Wajax’s sales volumes rose, and the company’s cost cuts increased its profit margins.
High yield looks safe
Meanwhile, Wajax lowered its monthly dividend by 25.9% last year, to $0.20 from $0.27. It made the cut to save cash until its markets rebound. However, the current dividend…
Privacy Policy and Terms of Use
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