Cencora, Inc. (NYSE:COR) Announces $0.60 Quarterly Dividend

Key Points

• Cencora declared a quarterly dividend of $0.60 per share, payable August 31 to shareholders of record on August 14. The company has raised its dividend for 15 consecutive years, with a 13.9% payout ratio.
• Cencora reported quarterly earnings of $4.48 per share, exceeding analyst expectations of $4.35, while revenue reached $84.75 billion, up 5.1% year over year.
• The board authorized a $2 billion share-repurchase program, allowing the company to buy back up to 3.9% of its outstanding shares.

Cencora, Inc. (NYSE:COR - Get Free Report) declared a quarterly dividend on Wednesday, August 5th. Investors of record on Friday, August 14th will be given a dividend of 0.60 per share on Monday, August 31st. This represents a c) dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Friday, August 14th.

Cencora has increased its dividend payment by an average of 0.1%annually over the last three years and has increased its dividend annually for the last 15 consecutive years. Cencora has a payout ratio of 13.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Cencora to earn $19.81 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 12.1%.

Cencora Stock Performance

Shares of NYSE:COR traded up $11.40 during midday trading on Wednesday, hitting $317.68. The company had a trading volume of 2,291,352 shares, compared to its average volume of 1,536,487. Cencora has a 12-month low of $244.82 and a 12-month high of $377.54. The company has a fifty day moving average of $290.71 and a two-hundred day moving average of $314.85. The company has a market cap of $61.81 billion, a price-to-earnings ratio of 24.36, a PEG ratio of 1.71 and a beta of 0.57. The company has a debt-to-equity ratio of 3.40, a current ratio of 0.95 and a quick ratio of 0.59.

Cencora (NYSE:COR - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported $4.48 earnings per share for the quarter, beating the consensus estimate of $4.35 by $0.13. Cencora had a return on equity of 135.20% and a net margin of 0.78%.The company had revenue of $84.75 billion for the quarter, compared to the consensus estimate of $84.31 billion. During the same period in the previous year, the business earned $4.00 earnings per share. Cencora's quarterly revenue was up 5.1% compared to the same quarter last year. On average, equities research analysts expect that Cencora will post 17.79 EPS for the current fiscal year.

Cencora declared that its board has approved a stock repurchase program on Thursday, May 21st that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 3.9% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's leadership believes its shares are undervalued.

About Cencora

Cencora NYSE: COR is a global healthcare services and pharmaceutical distribution company that provides end-to-end solutions across the pharmaceutical supply chain. The company's core activities include wholesale drug distribution, specialty drug distribution, and the operation of specialty pharmacies, complemented by logistics, cold-chain management and other fulfillment services designed to support complex and temperature-sensitive therapies.

Beyond physical distribution, Cencora offers a range of commercial and patient-focused services for pharmaceutical manufacturers and healthcare providers.

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