Dolby Laboratories (DLB) Plans Dividend Increase – $0.16 Per Share

Dolby Laboratories (NYSE:DLB) declared a quarterly dividend on Thursday, October 26th, Wall Street Journal reports. Investors of record on Monday, November 6th will be paid a dividend of 0.16 per share by the electronics maker on Wednesday, November 15th. This represents a $0.64 annualized dividend and a dividend yield of 1.06%. The ex-dividend date is Friday, November 3rd. This is a positive change from Dolby Laboratories’s previous quarterly dividend of $0.14.

Dolby Laboratories has a dividend payout ratio of 28.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Dolby Laboratories to earn $2.57 per share next year, which means the company should continue to be able to cover its $0.64 annual dividend with an expected future payout ratio of 24.9%.

Shares of Dolby Laboratories (DLB) traded up $1.01 during trading on Friday, reaching $60.65. 350,100 shares of the company’s stock were exchanged, compared to its average volume of 386,958. Dolby Laboratories has a fifty-two week low of $44.98 and a fifty-two week high of $61.45. The stock has a market cap of $6,085.49, a P/E ratio of 28.67, a P/E/G ratio of 2.24 and a beta of 0.83.

Dolby Laboratories (NYSE:DLB) last announced its quarterly earnings results on Wednesday, October 25th. The electronics maker reported $0.45 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.18. The company had revenue of $242.05 million for the quarter, compared to analysts’ expectations of $244.80 million. Dolby Laboratories had a net margin of 18.66% and a return on equity of 10.73%. Dolby Laboratories’s revenue was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.37 EPS. analysts predict that Dolby Laboratories will post 2.22 earnings per share for the current fiscal year.

In other Dolby Laboratories news, CEO Kevin J. Yeaman sold 10,000 shares of the stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $58.38, for a total value of $583,800.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Steven E. Forshay sold 30,069 shares of the stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $59.00, for a total value of $1,774,071.00. The disclosure for this sale can be found here. Insiders sold a total of 904,734 shares of company stock valued at $46,002,951 over the last 90 days. 43.80% of the stock is currently owned by corporate insiders.

An institutional investor recently raised its position in Dolby Laboratories stock. The Manufacturers Life Insurance Company raised its stake in Dolby Laboratories (NYSE:DLB) by 25.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,564 shares of the electronics maker’s stock after purchasing an additional 725 shares during the period. The Manufacturers Life Insurance Company ‘s holdings in Dolby Laboratories were worth $174,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 51.61% of the stock is owned by institutional investors.

Several equities research analysts have recently commented on DLB shares. Piper Jaffray Companies reaffirmed a “hold” rating and set a $52.00 price target (up previously from $49.00) on shares of Dolby Laboratories in a research report on Wednesday, September 13th. Dougherty & Co reaffirmed a “buy” rating and set a $63.00 price target on shares of Dolby Laboratories in a research report on Wednesday, September 13th. B. Riley raised shares of Dolby Laboratories to a “buy” rating and set a $61.50 target price for the company in a report on Saturday, July 22nd. BidaskClub lowered shares of Dolby Laboratories from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 22nd. Finally, Zacks Investment Research lowered shares of Dolby Laboratories from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 31st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $60.17.

COPYRIGHT VIOLATION NOTICE: This report was published by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are viewing this report on another website, it was copied illegally and reposted in violation of US and international trademark & copyright legislation. The original version of this report can be viewed at https://www.dispatchtribunal.com/2017/11/11/dolby-laboratories-dlb-increases-dividend-to-0-16-per-share.html.

About Dolby Laboratories

Dolby Laboratories, Inc designs and manufactures audio and imaging products for the cinema, television, broadcast and entertainment industries. Its products for cinema include Digital Cinema Servers and Cinema Audio Products, and broadcast and other include Dolby Conference Phone and Other Products. It offers services to support theatrical and television production for cinema exhibition, broadcast and home entertainment, including equipment training and maintenance, mixing room alignment and equalization, as well as audio, color and light image calibration.

Dividend History for Dolby Laboratories (NYSE:DLB)

Receive News & Ratings for Dolby Laboratories Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dolby Laboratories and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply