Worthington Enterprises Declares $0.19 Quarterly Dividend, Payable June 2026
Worthington Enterprises, Inc. (NYSE: WOR), a diversified industrial manufacturer, announced a quarterly cash dividend of $0.19 per share. The dividend is payable in June 2026.
Worthington Enterprises, Inc. (NYSE: WOR), a diversified industrial manufacturer, announced its Board of Directors declared a quarterly cash dividend of $0.19 per share. The dividend is scheduled for payment in June 2026. Read more dividend announcements.
The company, which operates through Building Products and Consumer Products segments, returned $9 million to shareholders through dividends during its most recent quarter. Additionally, Worthington repurchased 100,000 shares of common stock during the period.
Dividend Details
| Dividend Amount | Frequency | Payment Date |
|---|---|---|
| $0.19 per share | Quarterly | June 2026 |
Strong Cash Flow Performance
Worthington generated $62 million in operating cash flow during the third quarter of fiscal 2026, with free cash flow reaching $48 million. On a trailing 12-month basis, free cash flow totaled $164 million, representing a 95% conversion rate relative to adjusted net earnings.
The company's joint ventures delivered $35 million in dividends during the quarter, representing 113% of equity income. Free cash flow reflects elevated capital expenditures of roughly $27 million over the trailing 12-month period related to facility modernization projects.
Balance Sheet and Liquidity
Worthington closed the quarter with net debt of $306 million, resulting in a net debt-to-trailing adjusted EBITDA ratio of approximately 1.0x. The company maintains $495 million in availability under its revolving credit facility, providing significant financial flexibility.
Management expects to complete its modernization project by mid-fiscal year 2027, with approximately $25 million of spending remaining. After completion, capital expenditures are expected to return to more normalized levels.
Building Products Segment Growth
The Building Products segment reported third quarter net sales of $224 million, up 36% from $165 million in the prior year quarter. Growth was driven by higher overall volumes and contributions from acquisitions, which added $32 million in net sales.
Excluding acquisitions, net sales increased 16% year-over-year, reflecting strong organic growth across water and cooling construction businesses. The company completed its acquisition of LSI in mid-January, expanding its offering in the building envelope.
Adjusted EBITDA for Building Products reached $59 million compared to $53 million in the prior year quarter, with an adjusted EBITDA margin of 26.3%. The WAVE joint venture contributed $27 million in equity earnings, while ClarkDietrich contributed $6 million, down from $9 million last year amid a challenging nonresidential construction environment.