Tech supplier Crane Co declares 3Q dividend

Jul 25, 2018 Newsdesk Industry Talk, Latest News, World  

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U.S.-based Crane Co announced on Monday a regular quarterly dividend of US$0.35 per share for the third quarter 2018. The dividend is payable on September 10, to shareholders of record as of the close of business on August 31.

New York Stock Exchange-listed Crane Co is a supplier of payment and merchandising technology to the gaming industry.

The company had announced earlier on Monday second-quarter net income of US$80.7 million, up by 16.6 percent from the prior-year period.

Crane Co’s payment and merchandising technology division recorded sales of US$324.3 million in the three months to June 30. Operating profit for the segment increased by 10.0 percent year-on-year to US$46.1 million.

The company also provides highly engineered industrial products to customers including companies in the aerospace, electronics, hydrocarbon processing, petrochemicals, chemicals, power generation, automated merchandising and transportation markets.

On Monday, the company said it was raising its 2018 earnings guidance, based on its performance in the first six months of the year.

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