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Chicago Bridge & Iron Company N.V. (NYSE:CBI) posted full-year 2007 results in late February, showing growth in many areas, which included 2007 earnings per share of $1.71 versus the year 2006 result of $1.19. Investors who want income combined with growth should consider this company as growth is not the only story here. Chicago Bridge & Iron declared an interim dividend of four cents per share, which was paid out on March 31, 2008. The company’s dividend yield of 0.4% is higher than the industry average. The ROE for CBI is 26%, which is double the industry’s average of 13%.

Chicago Bridge & Iron, together with its subsidiaries, is an engineering, procurement and construction company worldwide. The company’s customers are predominantly from the energy and natural resource industries.

With more than 70 proprietary licensed technologies and 1,500 patents and patent applications, CB&I is uniquely positioned to take projects from conceptual design through technology licensing, engineering and construction, and final commissioning.

The company employs about 17,000 individuals in more than 80 locations.

CB&I’s most recent contract announcement occurred in late March. It was an approximately $40 million contract for several large water storage tanks to be built at an independent water and power plant project in the Middle East. The project is scheduled to be completed in early 2010.

The company posted full-year 2007 results in late February, showing growth in many areas. Earnings per share of $1.71 outpaced the year 2006 result of $1.19 per share. Backlog increased by 69% on a year-over-year basis. Consolidated 2007 revenue increased 40% from 2006 to $4.4 billion.

“2007 was a good year with strong earnings, cash flow and revenue growth,” said Philip K. Asherman, President and CEO. “Substantial new awards have led to record backlog, which positions us for continued success in 2008 and beyond."

For 2008, CB&I issued an earnings per share guidance of $2.40 to $2.65. Wall Street has 2008 earnings pegged at around $2.59 right now. Three out of ten covering analysts lifted forecasts to that level from last month’s expectations of $2.55. Two months ago, projections stood at $2.44. The most accurate estimate is also the most bullish at $2.63.

Investors who want income combined with growth should consider this company as growth is not the only story here. Chicago Bridge & Iron declared an interim dividend of four cents per share, which paid out on March 31, 2008. The company’s dividend yield of 0.4% is higher than the industry average as most companies in its industry offer no dividend.

The return on equity [ROE] for CBI is 26%, which is double the industry’s average of 13%. Its net profit margin of 3.8% also outperforms the industry average of 2.9%.

Source: Chicago Bridge & Iron: Strong Growth Plus High Dividend