MSC Industrial Direct Raises Quarterly Dividend to $0.83

MSC Industrial Supply Co. (NYSE: MSM) has declared a regular quarterly dividend of $0.83 per share, payable on July 23, 2024, to shareholders of record at the close of business on July 9, 2024. The ex-dividend date is also July 9, 2024.

In addition to the dividend announcement, the company reported its latest financial results. The following metrics have changed since the last period:

  1. Revenue: The company reported a 6% increase in revenue compared to the previous quarter, reaching $866 million.

  2. Earnings Per Share (EPS): MSC Industrial Supply Co. posted an EPS of $1.20, representing a 5% growth from the prior period.

  3. Operating Income: The operating income for the current quarter stands at $94 million, marking a 7% increase from the last quarter.

  4. Inventory Management Solutions: The company highlighted that it now offers approximately 2.4 million products, along with inventory management and other supply chain solutions, to drive greater productivity and profitability for its customers.

As a result of these announcements, the company's shares have moved -1.2% on the market, and are now trading at a price of $79.61. For more information, read the company's full 8-K submission here.

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