Duke Energy Corporation (NYSE:DUK) Plans Dividend Increase – $1.08 Per Share

Duke Energy Corporation (NYSE:DUK) declared a quarterly dividend on Tuesday, July 14th. Stockholders of record on Friday, August 14th will be paid a dividend of 1.085 per share by the utilities provider on Wednesday, September 16th. This represents a c) dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend is Friday, August 14th. This is a 1.9% increase from Duke Energy’s previous quarterly dividend of $1.06.

Duke Energy has raised its dividend payment by an average of 0.0%per year over the last three years and has increased its dividend annually for the last 20 consecutive years. Duke Energy has a payout ratio of 63.4% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Duke Energy to earn $7.14 per share next year, which means the company should continue to be able to cover its $4.26 annual dividend with an expected future payout ratio of 59.7%.

Duke Energy Stock Performance

Shares of DUK opened at $126.48 on Wednesday. The company has a current ratio of 0.66, a quick ratio of 0.44 and a debt-to-equity ratio of 1.45. The firm has a market cap of $98.60 billion, a PE ratio of 19.37 and a beta of 0.38. Duke Energy has a 12 month low of $113.89 and a 12 month high of $134.49. The stock has a fifty day moving average price of $124.87 and a 200-day moving average price of $125.31.

Duke Energy (NYSE:DUK) last announced its earnings results on Monday, May 4th. The utilities provider reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.87 by $0.06. Duke Energy had a return on equity of 9.73% and a net margin of 15.49%.The firm had revenue of $9.18 billion for the quarter, compared to the consensus estimate of $8.44 billion. During the same period in the previous year, the business earned $1.76 EPS. The firm’s revenue for the quarter was up 11.3% on a year-over-year basis. Equities research analysts predict that Duke Energy will post 6.71 earnings per share for the current fiscal year.

Duke Energy Company Profile

Duke Energy Corporation is a U.S.-based electric power holding company headquartered in Charlotte, North Carolina. The company’s core business is the generation, transmission and distribution of electricity to residential, commercial and industrial customers. Duke Energy operates a mix of regulated electric utilities and non-regulated energy businesses, providing essential energy infrastructure and services across multiple states.

Its operating activities include owning and operating generation assets across a portfolio that encompasses nuclear, natural gas, coal, hydroelectric and an expanding array of renewable resources, as well as battery storage and grid modernization projects.