This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration. Need a new registration confirmation email? Click here
2012 has provided a challenging environment for Milwaukee-based heavy mining equipment maker
Joy Global(JOY - Get Report). The firm has gotten knocked around by headwinds in the mining industry, as the price of many hard commodities contracted after what's been a pretty prodigious multi-year rally. But while investors continue to get anxious over macro factors, Joy's still making money -- lots of it.
Joy Global makes equipment like electric shovels and excavators used in surface and underground mines. That niche has proven successful for Joy in the past few years, with shares more than doubling as hard commodities pushed through to higher and higher levels. As miners, Joy's customers, saw their profits and scale expand, their need for new machinery dumped cash right into Joy's coffers.
Emerging markets still hold a lot of hope for Joy Global in the next few years, as new mining projects go online in places like China and India. At the same time, the very same wave of central bank easing that's spurring us to take a look at dividend payers stands to give the commodity rally a second wind. With a big backlog and ample balance sheet liquidity, Joy Global looks solid shape to hike its dividend, regardless of what the detractors might say.
Currently, the firm's payout weighs in at a quarterly 17.5 cents per share.
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.