Cardinal Health Inc (CAH) Announces Dividend Increase – $0.48 Per Share

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 paid a dividend of 0.4811 per share on Monday, July 15th. This represents a $1.92 dividend on an annualized basis and a yield of 3.84%. This is a positive change from Cardinal Health’s previous quarterly dividend of $0.48.

Cardinal Health has raised its dividend payment by an average of 8.8% annually over the last three years and has raised its dividend every year for the last 14 years. Cardinal Health has a payout ratio of 38.0% meaning its dividend is sufficiently covered by earnings. Equities 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%.

Shares of NYSE CAH opened at $50.14 on Friday. Cardinal Health has a 1 year low of $42.17 and a 1 year high of $58.31. The company has a market cap of $14.58 billion, a P/E ratio of 10.03, a PEG ratio of 1.58 and a beta of 1.14. The company has a current ratio of 1.05, a quick ratio of 0.51 and a debt-to-equity ratio of 1.26.

Cardinal Health (NYSE:CAH) last announced its earnings results on Thursday, May 9th. The company reported $1.59 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.43 by $0.16. Cardinal Health had a negative net margin of 0.03% and a positive return on equity of 24.01%. The firm had revenue of $35.23 billion for the quarter, compared to analyst estimates of $35.09 billion. During the same quarter last year, the business earned $1.39 earnings per share. Cardinal Health’s revenue was up 4.7% compared to the same quarter last year. Sell-side analysts anticipate that Cardinal Health will post 5.08 earnings per share for the current year.

CAH has been the topic of a number of recent analyst reports. Zacks Investment Research raised shares of Cardinal Health from a “sell” rating to a “hold” rating in a research note on Wednesday, January 16th. UBS Group initiated coverage on shares of Cardinal Health in a research note on Thursday, January 17th. They set a “neutral” rating and a $51.00 price target on the stock. ValuEngine raised shares of Cardinal Health from a “strong sell” rating to a “sell” rating in a research note on Friday, February 8th. Wolfe Research initiated coverage on shares of Cardinal Health in a research note on Tuesday, April 2nd. They set an “underperform” rating on the stock. Finally, Guggenheim initiated coverage on shares of Cardinal Health in a research note on Wednesday, April 17th. They set a “neutral” rating and a $51.00 price target on the stock. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $56.20.

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Cardinal Health Company Profile

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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Dividend History for Cardinal Health (NYSE:CAH)

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