Cardinal Health Inc (NYSE:CAH) announced a quarterly dividend on Friday, February 8th, Wall Street Journal reports. Shareholders of record on Monday, April 1st will be given a dividend of 0.4763 per share on Monday, April 15th. This represents a $1.91 dividend on an annualized basis and a yield of 4.05%. The ex-dividend date of this dividend is Friday, March 29th.
Cardinal Health has raised its dividend by an average of 8.8% annually over the last three years and has raised its dividend annually for the last 14 consecutive years. Cardinal Health has a payout ratio of 38.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Cardinal Health to earn $5.29 per share next year, which means the company should continue to be able to cover its $1.91 annual dividend with an expected future payout ratio of 36.1%.
NYSE:CAH traded up $0.29 during trading hours on Monday, reaching $47.08. The stock had a trading volume of 2,920,600 shares, compared to its average volume of 3,169,431. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.05 and a quick ratio of 0.51. Cardinal Health has a 12-month low of $42.17 and a 12-month high of $66.45. The company has a market capitalization of $13.94 billion, a P/E ratio of 9.42, a P/E/G ratio of 1.47 and a beta of 1.15.
A number of analysts have issued reports on the company. Zacks Investment Research downgraded Cardinal Health from a “buy” rating to a “hold” rating in a research report on Tuesday, April 9th. Wolfe Research initiated coverage on Cardinal Health in a report on Tuesday, April 2nd. They issued an “underperform” rating for the company. ValuEngine lowered Cardinal Health from a “sell” rating to a “strong sell” rating in a report on Monday, February 25th. Finally, UBS Group initiated coverage on Cardinal Health in a report on Thursday, January 17th. They issued a “neutral” rating and a $51.00 price target for the company. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $57.90.
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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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