Latest Dividend Announcement
Acushnet Holdings Corp. (NYSE: GOLF) approved an 8.5% dividend increase and raised its quarterly payout to $0.255 per share. The prior quarterly dividend amounted to $0.235. The new annualized dividend reaches $1.02 per share, compared with $0.94 previously. Based on a share price of $102.33, the forward dividend yield stands at approximately 0.99%.
Details of the Dividend Distribution
The company will pay the dividend on March 20 to shareholders of record as of March 6. The ex-dividend date also falls on March 6. Acushnet has now increased its dividend for eight consecutive years and has maintained uninterrupted dividend payments over the same period. This consistency supports its positioning as a reliable dividend growth company within the consumer cyclical sector.
Relevant Valuation Metrics
Acushnet currently carries a market capitalization of $6.0 billion and an enterprise value of $6.7 billion. The stock trades at a forward P/E ratio of 24.6 and a trailing P/E of 27.7. These multiples reflect a premium valuation relative to broader leisure peers, supported by brand strength and pricing power.
The forward EPS estimate stands at $4.17. Based on the new annual dividend of $1.02, the forward payout ratio equals roughly 24–25%. This conservative payout level aligns with the reported payout ratio of 24.9%. It leaves significant headroom for reinvestment and future dividend growth.
The company generated $2.53 billion in revenue and reported EBITDA of approximately $355 million, resulting in an EBITDA margin of 14.0%. Enterprise value to EBITDA stands near 19x, which implies elevated expectations for earnings stability. Free cash flow totaled about $69 million. While positive, this figure appears modest relative to dividend commitments and debt obligations.
Acushnet reports total debt of $981 million and total cash of $88 million. Net leverage remains manageable but warrants monitoring in a higher interest rate environment. The beta of 0.89 signals slightly below-market volatility, which may appeal to defensive-oriented investors.
Dividend History and Sustainability
Since initiating quarterly dividends of $0.12 in 2017, Acushnet has steadily raised its payout. The dividend progressed to $0.13 in 2018, $0.14 in 2019, $0.155 in 2020, $0.165 in 2021, $0.18 in 2022, $0.195 in 2023, $0.215 in 2024, $0.235 in 2025, and now $0.255 in 2026. This trajectory represents a compound annual growth rate in the high single digits.
The low payout ratio underpins dividend sustainability. However, earnings growth recently turned negative, with annual earnings declining by roughly 9% and quarterly earnings down 13.7%. Revenue still expanded by 6%, indicating that margin pressure rather than demand weakness drove the earnings contraction. Long-term dividend growth will depend on restoring earnings momentum and expanding operating margins.
Outlook for Long-Term Investors
Acushnet combines brand dominance in golf equipment with disciplined capital allocation. The forward yield below 1% positions the stock more as a dividend growth candidate than a high-income vehicle. Investors pay a premium multiple for quality and market leadership.
Future returns will hinge on revenue growth, margin expansion, and leverage management. The moderate payout ratio offers flexibility for continued dividend increases even during cyclical slowdowns. However, the elevated valuation and slowing earnings growth reduce the margin of safety.
Company Profile
Acushnet Holdings Corp., headquartered in the United States, operates in the leisure segment within the consumer cyclical sector. The company owns leading golf brands such as Titleist and FootJoy. It designs, manufactures, and distributes golf balls, clubs, footwear, and apparel worldwide. Its strong brand equity and global distribution network support recurring demand from dedicated golfers and specialty retailers.
last quarterly report*
Acushnet Holdings reported solid top-line growth in 2025 but weaker bottom-line performance, while raising its quarterly dividend.
For the full year 2025, net sales increased 4.1% to $2.56 billion, or 4.2% in constant currency . Growth was driven primarily by higher sales of Titleist golf equipment and golf gear. Titleist equipment sales rose 5.9%, supported by higher average selling prices in golf clubs and stronger volumes of Pro V1 golf balls and T-Series irons. Golf gear sales increased 5.5%, while FootJoy golf wear declined 0.8%.
Despite revenue growth, profitability declined. Net income attributable to Acushnet fell 12.0% to $188.5 million . The decrease was mainly due to a $17.0 million loss on debt extinguishment related to refinancing, higher interest expense, and lower operating income. Adjusted EBITDA rose modestly by 1.5% to $410.4 million, but the Adjusted EBITDA margin compressed to 16.0% from 16.5% in the prior year .
In the fourth quarter, net sales increased 7.2% to $477.2 million , driven by strong growth in Titleist golf equipment, particularly golf clubs. However, the company reported a net loss of $34.9 million for the quarter, compared to a near break-even result a year earlier, again reflecting refinancing-related charges and weaker operating performance .
Cash flow generation remained solid. Operating cash flow for the year totaled $194.4 million, compared to $245.1 million in 2024 . The company invested $74.3 million in capital expenditures and returned significant capital to shareholders through $211.5 million in share repurchases and $56.2 million in dividends .
The balance sheet shows total assets of $2.34 billion and total liabilities of $1.56 billion as of year-end 2025 . Long-term debt increased to $926.2 million from $753.1 million, reflecting refinancing activity . Cash and cash equivalents stood at $50.1 million .
Acushnet’s board approved an 8.5% increase in the quarterly dividend to $0.255 per share . The dividend is payable on March 20, 2026, to shareholders of record as of March 6, 2026. This increase signals management’s confidence in cash flow stability despite earnings volatility.
Looking ahead, the company expects 2026 net sales between $2.63 billion and $2.68 billion, representing approximately 3.6% growth at the midpoint. Adjusted EBITDA is projected between $415 million and $435 million .
Overall, Acushnet delivered steady revenue growth in 2025, supported by strong brand performance in Titleist products. However, margin pressure, higher interest costs, and refinancing charges weighed on net income. The dividend increase and continued share repurchases indicate a shareholder-friendly capital allocation strategy, but rising leverage and softer profitability warrant close monitoring.
*This is the latest quarterly report that the company has filed with the SEC.
Die Selektion dieser Aktie erfolgte zufällig aus einem breiten Spektrum an tagesaktuellen Börsenmitteilungen bezüglich angekündigter Dividendenzahlungen. Der vorliegende Beitrag zielt nicht auf eine qualitative Bewertung dieser dividendenstarken Aktie ab, sondern verfolgt einen rein deskriptiven Ansatz.
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