Churchill Downs, Incorporated (NASDAQ:CHDN) Raises Dividend to $0.47 Per Share

Churchill Downs, Incorporated (NASDAQ:CHDN) declared an annual dividend on Wednesday, October 28th. Shareholders of record on Friday, December 4th will be given a dividend of $0.4690 per share on Tuesday, January 5th. This represents a yield of 57.0%. The ex-dividend date is Friday, December 4th. This is a 7.1% increase from Churchill Downs’s previous annual dividend of $0.4380.

Churchill Downs has raised its dividend payment by an average of 0.1% per year over the last three years and has raised its dividend annually for the last 14 consecutive years. Churchill Downs has a dividend payout ratio of 6.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect Churchill Downs to earn $7.49 per share next year, which means the company should continue to be able to cover its $0.43 annual dividend with an expected future payout ratio of 5.7%.

Churchill Downs Price Performance

NASDAQ CHDN opened at $81.95 on Thursday. The company has a debt-to-equity ratio of 3.06, a current ratio of 0.36 and a quick ratio of 0.36. The firm has a market capitalization of $5.71 billion, a price-to-earnings ratio of 14.06, a price-to-earnings-growth ratio of 0.88 and a beta of 0.77. The company has a 50 day simple moving average of $82.89 and a 200-day simple moving average of $88.42. Churchill Downs has a 52-week low of $73.08 and a 52-week high of $118.35.

Churchill Downs (NASDAQ:CHDN) last announced its quarterly earnings data on Wednesday, October 28th. The company reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.10. Churchill Downs had a net margin of 13.82% and a return on equity of 42.16%. The firm had revenue of $696.00 million for the quarter, compared to the consensus estimate of $695.16 million. During the same period in the previous year, the firm posted $1.09 earnings per share. The firm’s revenue was up 1.9% on a year-over-year basis. Equities research analysts predict that Churchill Downs will post 6.99 earnings per share for the current fiscal year.

Churchill Downs Company Profile

Churchill Downs Incorporated (NASDAQ: CHDN) is a gaming, racing and entertainment company best known for operating Churchill Downs Racetrack in Louisville, Kentucky, the home of the Kentucky Derby. The company traces its history to the opening of Churchill Downs in 1875 and has expanded its operations beyond traditional Thoroughbred racing.

Its business activities include live and historical horse racing, pari-mutuel wagering, casino gaming, video lottery and related entertainment offerings.