Chemed Co. (NYSE:CHE) Increases Dividend to $0.32 Per Share

Chemed Co. (NYSE:CHE) announced a quarterly dividend on Friday, August 2nd, RTT News reports. Investors of record on Monday, August 12th will be given a dividend of 0.32 per share on Tuesday, September 3rd. This represents a $1.28 annualized dividend and a yield of 0.31%. The ex-dividend date of this dividend is Friday, August 9th. This is a positive change from Chemed’s previous quarterly dividend of $0.30.

Chemed has raised its dividend payment by an average of 8.0% annually over the last three years and has increased its dividend every year for the last 10 years. Chemed has a payout ratio of 10.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Chemed to earn $13.95 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 8.6%.

CHE opened at $414.26 on Wednesday. The firm has a 50 day simple moving average of $374.31. The company has a current ratio of 0.81, a quick ratio of 0.78 and a debt-to-equity ratio of 0.25. The firm has a market cap of $6.50 billion, a PE ratio of 34.72, a P/E/G ratio of 3.47 and a beta of 1.14. Chemed has a 12 month low of $260.03 and a 12 month high of $415.00.

Chemed (NYSE:CHE) last issued its quarterly earnings results on Thursday, July 25th. The company reported $3.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.09 by $0.27. The firm had revenue of $473.60 million during the quarter, compared to analyst estimates of $471.72 million. Chemed had a return on equity of 35.63% and a net margin of 10.94%. The firm’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period last year, the company posted $2.81 EPS. As a group, equities analysts predict that Chemed will post 13.03 EPS for the current fiscal year.

A number of brokerages have issued reports on CHE. Oppenheimer increased their price target on Chemed from $400.00 to $430.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Zacks Investment Research lowered Chemed from a “hold” rating to a “sell” rating in a research note on Thursday, May 9th. Royal Bank of Canada increased their price target on Chemed to $405.00 and gave the company a “sector perform” rating in a research note on Monday, July 29th. Finally, ValuEngine raised Chemed from a “hold” rating to a “buy” rating in a research note on Friday, June 7th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company’s stock. Chemed currently has an average rating of “Hold” and a consensus price target of $383.75.

Chemed Company Profile

Chemed Corporation provides hospice and palliative care services to patients through a network of physicians, registered nurses, home health aides, social workers, clergy, and volunteers in the United States. It operates through two segments, VITAS and Roto-Rooter. The company also offers plumbing, drain cleaning, water restoration, and other related services to residential and commercial customers through company-owned and independent contractors, and franchised locations.

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Dividend History for Chemed (NYSE:CHE)

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