Cardinal Health, Inc. (NYSE:CAH) declared a quarterly dividend on Wednesday, August 9th, RTT News reports. Investors of record on Monday, October 2nd will be paid a dividend of 0.4624 per share on Sunday, October 15th. This represents a $1.85 dividend on an annualized basis and a yield of 2.71%.

Cardinal Health has increased its dividend by an average of 13.1% annually over the last three years and has increased its dividend every year for the last 12 years. Cardinal Health has a payout ratio of 36.9% meaning its dividend is sufficiently covered by earnings. Analysts expect Cardinal Health to earn $5.59 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 33.1%.

Cardinal Health (NYSE:CAH) last released its quarterly earnings data on Wednesday, August 2nd. The company reported $1.31 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.24 by $0.07. Cardinal Health had a net margin of 0.99% and a return on equity of 26.20%. The firm had revenue of $32.97 billion for the quarter, compared to the consensus estimate of $32.73 billion. During the same period last year, the firm earned $1.14 earnings per share. The company’s quarterly revenue was up 5.0% on a year-over-year basis.

In other Cardinal Health news, CEO of Cardinal Health’s pharmaceutical segment Jon L. Giacomin sold 23,270 shares of the firm’s stock in a transaction on Friday, May 12th. The shares were sold at an average price of $72.87, for a total value of $1,695,684.90. Following the completion of the transaction, the insider now owns 55,440 shares of the company’s stock, valued at $4,039,912.80. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.94% of the company’s stock.

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CAH has been the topic of a number of recent research reports. Tigress Financial began coverage on shares of Cardinal Health in a research note on Friday, April 28th. They set a “neutral” rating on the stock. Zacks Investment Research downgraded shares of Cardinal Health from a “hold” rating to a “sell” rating in a research note on Friday, April 28th. Vetr downgraded shares of Cardinal Health from a “buy” rating to a “hold” rating and set a $77.92 target price for the company. in a research note on Thursday, June 1st. Credit Suisse Group restated a “buy” rating and issued a $81.00 target price on shares of Cardinal Health in a research note on Tuesday, May 2nd. Finally, BidaskClub downgraded shares of Cardinal Health from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 11th. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have issued a buy rating to the stock. Cardinal Health currently has an average rating of “Hold” and an average target price of $80.46.

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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