Dollar General Co. (NYSE:DG) Announces Quarterly Dividend of $0.59

Dollar General Co. (NYSE:DG) declared a quarterly dividend on Thursday, August 29th, RTT News reports. Investors of record on Tuesday, October 8th will be paid a dividend of 0.59 per share on Tuesday, October 22nd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.68%.

Dollar General has raised its dividend by an average of 8.1% annually over the last three years. Dollar General has a dividend payout ratio of 29.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Dollar General to earn $8.15 per share next year, which means the company should continue to be able to cover its $2.36 annual dividend with an expected future payout ratio of 29.0%.

Dollar General Price Performance

Dollar General stock traded down $35.66 during trading hours on Thursday, reaching $88.18. 18,011,141 shares of the stock were exchanged, compared to its average volume of 2,493,720. The company has a current ratio of 1.22, a quick ratio of 0.18 and a debt-to-equity ratio of 0.89. The company has a market cap of $19.39 billion, a P/E ratio of 13.38, a price-to-earnings-growth ratio of 2.36 and a beta of 0.43. The stock has a 50 day moving average of $124.01 and a two-hundred day moving average of $136.88. Dollar General has a twelve month low of $87.08 and a twelve month high of $168.07.

Dollar General (NYSE:DG) last posted its quarterly earnings results on Thursday, August 29th. The company reported $1.70 EPS for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.09). The business had revenue of $10.21 billion for the quarter, compared to analyst estimates of $10.37 billion. Dollar General had a return on equity of 22.80% and a net margin of 3.85%. Dollar General’s quarterly revenue was up 4.2% on a year-over-year basis. During the same period last year, the firm posted $2.13 EPS. Equities analysts expect that Dollar General will post 7.21 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently commented on DG. Loop Capital dropped their price target on Dollar General from $140.00 to $130.00 and set a “hold” rating for the company in a research note on Tuesday, August 13th. Oppenheimer reiterated a “market perform” rating on shares of Dollar General in a research report on Monday. Argus reduced their price target on Dollar General from $175.00 to $170.00 and set a “buy” rating on the stock in a report on Monday, July 15th. Truist Financial dropped their price objective on shares of Dollar General from $135.00 to $130.00 and set a “hold” rating for the company in a report on Monday. Finally, BMO Capital Markets decreased their price target on shares of Dollar General from $150.00 to $140.00 and set a “market perform” rating for the company in a research report on Friday, May 31st. Twelve analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $146.41.

Dollar General Company Profile

Dollar General Corporation, a discount retailer, provides various merchandise products in the southern, southwestern, midwestern, and eastern United States. It offers consumable products, including paper and cleaning products, such as paper towels, bath tissues, paper dinnerware, trash and storage bags, disinfectants, and laundry products; packaged food comprising cereals, pasta, canned soups, fruits and vegetables, condiments, spices, sugar, and flour; and perishables that include milk, eggs, bread, refrigerated and frozen food, beer, and wine.