Otis Worldwide Corporation (OTIS) to Issue Quarterly Dividend of $0.42 on December 5th

Otis Worldwide Corporation (NYSE:OTIS) announced a quarterly dividend on Thursday, October 30th. Investors of record on Friday, November 14th will be given a dividend of 0.42 per share on Friday, December 5th. This represents a c) annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Friday, November 14th.

Otis Worldwide has a payout ratio of 37.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Otis Worldwide to earn $4.42 per share next year, which means the company should continue to be able to cover its $1.68 annual dividend with an expected future payout ratio of 38.0%.

Otis Worldwide Trading Down 0.1%

Shares of NYSE:OTIS opened at $90.18 on Wednesday. The stock has a fifty day simple moving average of $90.33 and a two-hundred day simple moving average of $92.74. Otis Worldwide has a 12-month low of $84.25 and a 12-month high of $106.83. The stock has a market capitalization of $35.14 billion, a price-to-earnings ratio of 26.60, a PEG ratio of 3.44 and a beta of 1.00.

Otis Worldwide (NYSE:OTIS) last issued its earnings results on Wednesday, October 29th. The company reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.05. The business had revenue of $3.69 billion during the quarter, compared to analysts’ expectations of $3.65 billion. Otis Worldwide had a net margin of 9.41% and a negative return on equity of 30.67%. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.96 earnings per share. Otis Worldwide has set its FY 2025 guidance at 4.040-4.080 EPS. As a group, equities research analysts predict that Otis Worldwide will post 4.04 EPS for the current year.

About Otis Worldwide

Otis Worldwide Corporation engages in manufacturing, installation, and servicing of elevators and escalators in the United States, China, and internationally. The company operates in two segments, New Equipment and Service. The New Equipment segment designs, manufactures, sells, and installs a range of passenger and freight elevators, as well as escalators and moving walkways for residential and commercial buildings, and infrastructure projects.