Stock Buyback Plan Declared by NACCO Industries (NC) Board

NACCO Industries (NYSE:NC) declared that its Board of Directors has authorized a share repurchase plan, which permits the company to repurchase $25.00 million in shares on Wednesday, February 14th, EventVestor reports. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

NACCO Industries (NYSE NC) opened at $40.85 on Friday. NACCO Industries has a 52-week low of $19.60 and a 52-week high of $48.85. The firm has a market capitalization of $269.73, a price-to-earnings ratio of 6.30 and a beta of 0.43. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.80 and a quick ratio of 3.09.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Thursday, March 1st will be paid a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date is Wednesday, February 28th. NACCO Industries’s payout ratio is currently 30.56%.

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About NACCO Industries

NACCO Industries, Inc is a holding company. The Company’s principal business includes mining. The Company operates through the NACoal segment. The Company’s subsidiary includes The North American Coal Corporation (NACoal). The Company’s NACoal segment mines coal for use in power generation and provides mining services for other natural resources companies.

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