Published on 3 Apr 2024 on Zacks via Yahoo Finance
Here's Why Investors Should Hold Wabtec (WAB) Stock Now
Westinghouse Air Brake Technologies Corporation, operating as Wabtec Corporation (WAB), has performed well in the past year and has the potential to sustain the momentum in the future.
Against this backdrop, let’s look at the factors why investors should retain this stock now despite headwinds.
Highlighting its pro-investor stance, Wabtec's management announced a 17.6% increase to its quarterly dividend (concurrent with its fourth-quarter 2023 earnings release on Feb 14, 2024). The new dividend of 20 cents per share will be paid on Mar 8, 2024, to shareholders of record at the close of business on Feb 23. The dividend hike raises Wabtec’s annualized cash dividend rate to 80 cents from 68 cents.