Joy announces dividend

JOY Global has announced an unchanged quarterly cash dividend of 18c per share for the third quarter.

Staff Reporter

The dividend is payable on September 18 to shareholders on record on September 4.

The global machinery producer will release fiscal Q3 earnings results prior to the opening of business on Wednesday, August 28.

The company’s fiscal Q2 results showed strong operational efficiencies and cost reductions despite a downturn in the market.

Joy’s net sales figure in the three months to April 26 2013 was $US1.4 billion compared to $1.5 billion for the same period last year.

Operating income was $279 million in the quarter, compared to operating income of $333 million in Q2 2012.

Quarterly income from continuing operations was $182 million compared to $218 million in 2012.

Second quarter bookings decreased by 8% to $1.1 billion in fiscal 2013 compared to the second quarter of last year but increased by 10% sequentially over the first quarter of this year.

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