Cardinal Health Inc (CAH) Plans $0.46 Quarterly Dividend

Cardinal Health Inc (NYSE:CAH) announced a quarterly dividend on Wednesday, November 8th, RTT News reports. Stockholders of record on Tuesday, January 2nd will be given a dividend of 0.4624 per share on Monday, January 15th. This represents a $1.85 annualized dividend and a dividend yield of 2.68%. The ex-dividend date is Friday, December 29th.

Cardinal Health has increased its dividend payment by an average of 12.2% per year 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 37.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect Cardinal Health to earn $5.48 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 33.8%.

Shares of Cardinal Health (NYSE:CAH) opened at $69.11 on Friday. The company has a market capitalization of $21,780.00, a P/E ratio of 20.15, a PEG ratio of 1.84 and a beta of 0.85. The company has a current ratio of 1.06, a quick ratio of 0.52 and a debt-to-equity ratio of 1.35. Cardinal Health has a 1-year low of $54.66 and a 1-year high of $84.88.

Cardinal Health (NYSE:CAH) last announced its earnings results on Monday, November 6th. The company reported $1.09 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.00 by $0.09. The company had revenue of $32.64 billion for the quarter, compared to analysts’ expectations of $33.48 billion. Cardinal Health had a return on equity of 6.84% and a net margin of 0.36%. Cardinal Health’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.24 earnings per share. sell-side analysts expect that Cardinal Health will post 4.95 EPS for the current year.

Several brokerages recently issued reports on CAH. Cowen raised Cardinal Health to a “buy” rating and set a $74.00 target price on the stock in a research report on Tuesday, October 10th. Mizuho set a $70.00 price objective on Cardinal Health and gave the stock a “hold” rating in a research report on Tuesday, October 24th. Robert W. Baird reissued a “hold” rating and issued a $73.00 price objective on shares of Cardinal Health in a research report on Sunday, September 17th. ValuEngine cut Cardinal Health from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Finally, Evercore ISI started coverage on Cardinal Health in a research report on Thursday, January 4th. They issued an “in-line” rating and a $67.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $72.99.

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Cardinal Health Company Profile

Cardinal Health, Inc is a healthcare services and products company. The Company operates through two segments: Pharmaceutical and Medical. The Pharmaceutical segment distributes branded and generic pharmaceutical, specialty pharmaceutical, over-the-counter healthcare and consumer products. This segment also operates nuclear pharmacies and cyclotron facilities; provides pharmacy management services to hospitals, as well as medication therapy management and patient outcomes services to hospitals, other healthcare providers and payers, and provides services to healthcare companies.

Dividend History for Cardinal Health (NYSE:CAH)

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