Cardinal Health Inc (CAH) Increases Dividend to $0.48 Per Share

Cardinal Health Inc (NYSE:CAH) announced a quarterly dividend on Wednesday, May 9th, Zacks reports. Shareholders of record on Monday, July 2nd will be paid a dividend of 0.476 per share on Sunday, July 15th. This represents a $1.90 annualized dividend and a yield of 3.53%. The ex-dividend date of this dividend is Friday, June 29th. This is a boost from Cardinal Health’s previous quarterly dividend of $0.46.

Cardinal Health has raised its dividend by an average of 12.2% annually over the last three years and has raised its dividend every year for the last 13 years. Cardinal Health has a dividend payout ratio of 36.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect Cardinal Health to earn $5.15 per share next year, which means the company should continue to be able to cover its $1.85 annual dividend with an expected future payout ratio of 35.9%.

Shares of Cardinal Health opened at $53.98 on Friday, according to MarketBeat. The company has a current ratio of 1.10, a quick ratio of 0.54 and a debt-to-equity ratio of 1.20. The firm has a market cap of $16.63 billion, a price-to-earnings ratio of 10.50, a P/E/G ratio of 1.61 and a beta of 0.99. Cardinal Health has a 12-month low of $50.79 and a 12-month high of $80.37.

Cardinal Health (NYSE:CAH) last announced its earnings results on Thursday, May 3rd. The company reported $1.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.51 by ($0.12). The company had revenue of $33.63 billion for the quarter, compared to the consensus estimate of $33.61 billion. Cardinal Health had a net margin of 1.26% and a return on equity of 23.39%. equities research analysts expect that Cardinal Health will post 4.92 EPS for the current year.

Several analysts have issued reports on the company. TheStreet raised Cardinal Health from a “c+” rating to a “b-” rating in a research report on Tuesday, March 13th. Barclays assumed coverage on Cardinal Health in a research report on Thursday, March 8th. They set an “equal weight” rating and a $74.00 target price on the stock. ValuEngine cut Cardinal Health from a “hold” rating to a “sell” rating in a research report on Wednesday, May 2nd. Argus raised Cardinal Health from a “hold” rating to a “buy” rating and set a $85.00 target price on the stock in a research report on Monday, April 2nd. Finally, Royal Bank of Canada set a $81.00 target price on Cardinal Health and gave the company a “hold” rating in a research report on Tuesday, April 24th. Five analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $69.79.

About Cardinal Health

Cardinal Health, Inc operates as an integrated healthcare services and products company worldwide. The company's Pharmaceutical segment distributes branded and generic pharmaceutical, specialty pharmaceutical, over-the-counter healthcare, and consumer products to retailers, hospitals, and other healthcare providers.

Dividend History for Cardinal Health (NYSE:CAH)

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