Cardinal Health Inc (NYSE:CAH) announced a quarterly dividend on Thursday, May 9th, RTT News reports. Investors of record on Monday, July 1st will be given a dividend of 0.4811 per share on Monday, July 15th. This represents a $1.92 annualized dividend and a yield of 4.26%. The ex-dividend date of this dividend is Friday, June 28th. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.48.
Cardinal Health has increased its dividend by an average of 8.8% per year over the last three years and has increased its dividend annually for the last 14 consecutive years. Cardinal Health has a dividend payout ratio of 38.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Cardinal Health to earn $5.17 per share next year, which means the company should continue to be able to cover its $1.92 annual dividend with an expected future payout ratio of 37.1%.
CAH traded up $0.12 during trading on Thursday, reaching $45.19. 1,732,505 shares of the company traded hands, compared to its average volume of 2,999,972. The company has a current ratio of 1.07, a quick ratio of 0.54 and a debt-to-equity ratio of 1.22. Cardinal Health has a 12-month low of $42.01 and a 12-month high of $58.31. The business’s fifty day simple moving average is $45.47. The stock has a market capitalization of $13.95 billion, a P/E ratio of 9.04, a P/E/G ratio of 1.49 and a beta of 1.26.
Several research firms have recently weighed in on CAH. Wolfe Research assumed coverage on Iqvia in a research report on Tuesday, April 2nd. They set a “market perform” rating for the company. ValuEngine upgraded VESTAS WIND SYS/ADR from a “hold” rating to a “buy” rating in a research note on Thursday, May 9th. Guggenheim started coverage on Patterson Companies in a report on Wednesday, April 17th. They set a “neutral” rating and a $23.00 target price for the company. Finally, Zacks Investment Research downgraded Glu Mobile from a “buy” rating to a “hold” rating in a report on Tuesday, April 9th. Three research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. The company has a consensus rating of “Hold” and an average target price of $54.11.
About Cardinal Health
Cardinal Health, Inc operates as an integrated healthcare services and products company in the United States and internationally. It provides medical products and pharmaceuticals, and solutions that enhance supply chain efficiency for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, and physician offices.
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