ResMed Inc. (NYSE:RMD) Plans Dividend Increase – $0.66 Per Share

ResMed Inc. (NYSE:RMD) announced a quarterly dividend on Thursday, August 6th. Stockholders of record on Thursday, August 20th will be paid a dividend of 0.66 per share by the medical equipment provider on Thursday, September 24th. This represents a c) annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Thursday, August 20th. This is a 10.0% increase from ResMed’s previous quarterly dividend of $0.60.

ResMed has raised its dividend payment by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 13 consecutive years. ResMed has a payout ratio of 22.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect ResMed to earn $12.02 per share next year, which means the company should continue to be able to cover its $2.40 annual dividend with an expected future payout ratio of 20.0%.

ResMed Stock Performance

Shares of RMD traded down $16.57 on Friday, reaching $206.67. 2,290,331 shares of the stock traded hands, compared to its average volume of 1,296,878. The stock’s 50-day moving average price is $200.06 and its 200-day moving average price is $222.30. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.01 and a quick ratio of 2.33. The firm has a market cap of $29.98 billion, a price-to-earnings ratio of 19.94, a P/E/G ratio of 1.36 and a beta of 0.76. ResMed has a 12 month low of $180.26 and a 12 month high of $293.81.

ResMed (NYSE:RMD) last announced its quarterly earnings results on Thursday, August 6th. The medical equipment provider reported $2.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.89 by $0.06. ResMed had a net margin of 27.44% and a return on equity of 25.35%. The firm had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same quarter in the previous year, the firm posted $2.55 EPS. The business’s revenue for the quarter was up 8.6% on a year-over-year basis. Equities analysts forecast that ResMed will post 11.14 EPS for the current fiscal year.

ResMed Company Profile

ResMed (NYSE: RMD) is a global medical device and cloud-connectivity company focused on improving outcomes for people with sleep-disordered breathing and chronic respiratory conditions. Founded in 1989, the company is headquartered in San Diego, California, and develops, manufactures and distributes a range of devices and software used by patients, clinicians and providers worldwide.

ResMed’s product portfolio centers on noninvasive ventilation and sleep therapy equipment, including continuous positive airway pressure (CPAP) and bilevel devices, masks and related accessories for the treatment of obstructive sleep apnea and other respiratory disorders.