Dolby Laboratories, Inc. (NYSE:DLB – Get Free Report) declared a quarterly dividend on Thursday, May 2nd, Wall Street Journal reports. Investors of record on Tuesday, May 14th will be paid a dividend of 0.30 per share by the electronics maker on Wednesday, May 22nd. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date is Monday, May 13th.
Dolby Laboratories has raised its dividend payment by an average of 8.1% per year over the last three years and has increased its dividend every year for the last 3 years. Dolby Laboratories has a dividend payout ratio of 38.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Dolby Laboratories to earn $2.72 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 44.1%.
Dolby Laboratories Stock Up 3.0 %
Shares of NYSE DLB opened at $82.08 on Friday. Dolby Laboratories has a 12 month low of $75.87 and a 12 month high of $91.01. The company has a market cap of $7.85 billion, a price-to-earnings ratio of 41.88 and a beta of 0.98. The business has a fifty day simple moving average of $81.65 and a 200-day simple moving average of $83.22.
Insider Buying and Selling at Dolby Laboratories
In other Dolby Laboratories news, SVP John D. Couling sold 33,560 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $80.81, for a total value of $2,711,983.60. Following the transaction, the senior vice president now owns 108,519 shares in the company, valued at approximately $8,769,420.39. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 39.54% of the company’s stock.
Analyst Ratings Changes
Several equities research analysts recently commented on DLB shares. StockNews.com downgraded shares of Dolby Laboratories from a “buy” rating to a “hold” rating in a research report on Friday. Rosenblatt Securities restated a “buy” rating and issued a $98.00 target price on shares of Dolby Laboratories in a report on Monday, April 29th.
Check Out Our Latest Report on Dolby Laboratories
About Dolby Laboratories
Dolby Laboratories, Inc creates audio and imaging technologies that transform entertainment at the cinema, DTV transmissions and devices, mobile devices, OTT video and music services, home entertainment devices, and automobiles. The company develops and licenses its audio technologies, such as AAC & HE-AAC, a digital audio codec solution used for a range of media applications; AVC, a digital video codec with high bandwidth efficiency used in various media devices; Dolby AC-4, a digital audio coding technology that delivers new audio experiences to a range of playback devices; and Dolby Atmos technology for cinema and various media devices.
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