Tractor Supply Company (NASDAQ: TSCO) has declared a quarterly cash dividend of $1.10 per share of the company's common stock, reflecting a 7 percent increase from the prior quarterly dividend rate of $1.03 per share. Edna Morris, Tractor Supply's Chairman of the Board, expressed confidence in the company's strategy and its ability to generate shareholder value, stating, "The strong and consistent cash flow of Tractor Supply supports our 15th year of consecutive dividend increases. This increase reflects our board's continued confidence in our life out here strategy to generate shareholder value, while investing for our future."
The dividend is scheduled to be paid on March 12, 2024, to stockholders of record as of the close of business on February 26, 2024.
Tractor Supply Company, the largest rural lifestyle retailer in the U.S., has been serving the needs of recreational farmers, ranchers, homeowners, gardeners, pet enthusiasts, and all those who enjoy living life out in rural communities for 85 years. The company's more than 50,000 team members are known for delivering legendary service and helping customers pursue their passions. As of December 30, 2023, the company operated 2,216 Tractor Supply stores in 49 states.
Regarding the company's market performance, its shares have moved -0.1% and are currently trading at a price of $230.73.
The company's full 8-K submission is available here.
| 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|---|
| Revenue (MM) | $7,911 | $8,352 | $10,620 | $12,731 | $14,205 | $14,902 |
| Revenue Growth | n/a | 5.57% | 27.16% | 19.87% | 11.57% | 4.91% |
| Gross Margins | 34% | 34% | 35% | 35% | 35% | 36% |
| Operating Margins | 9% | 9% | 9% | 10% | 10% | 10% |
| Net Margins | 7% | 7% | 7% | 8% | 8% | 8% |
| Net Income (MM) | $532 | $562 | $749 | $997 | $1,089 | $1,130 |
| Net Interest Expense (MM) | $18 | $20 | $29 | $27 | $31 | $45 |
| Depreciation & Amort. (MM) | $177 | $196 | $217 | $270 | $343 | $385 |
| Earnings Per Share | $4.31 | $4.66 | $6.38 | $8.61 | $9.71 | $10.34 |
| EPS Growth | n/a | 8.12% | 36.91% | 34.95% | 12.78% | 6.49% |
| Diluted Shares (MM) | 123 | 121 | 117 | 116 | 112 | 109 |
| Free Cash Flow (MM) | $416 | $594 | $1,101 | $510 | $584 | $820 |
| Capital Expenditures (MM) | $279 | $217 | $294 | $628 | $773 | $849 |
| Current Ratio | 1.91 | 1.43 | 1.87 | 1.57 | 1.33 | 1.52 |
Tractor Supply Company has rapidly growing revenues and increasing reinvestment in the business and generally positive cash flows. Additionally, the company's financial statements display a strong EPS growth trend and a decent current ratio of 1.52. Furthermore, Tractor Supply Company has similar gross margins to its peers and weak operating margins with a stable trend.
