Dover Corporation (NYSE:DOV) Raises Dividend to $0.53 Per Share

Key Points

• Dover raised its quarterly dividend 1% to $0.525 per share, payable September 15 to shareholders of record August 31, representing an annualized yield of approximately 1.1%.
• The company has increased its dividend for 70 consecutive years, with a current payout ratio of 20.5%, indicating that earnings provide solid coverage for the dividend.
• Dover’s latest quarterly earnings were $2.74 per share, slightly above analyst expectations, while revenue rose 6.8% year over year to $2.19 billion; shares were trading down 1.6% at $198.54.

Dover Corporation (NYSE:DOV - Get Free Report) announced a quarterly dividend on Friday, August 7th. Stockholders of record on Monday, August 31st will be paid a dividend of 0.525 per share by the industrial products company on Tuesday, September 15th. This represents a c) annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Monday, August 31st. This is a 1.0% increase from Dover's previous quarterly dividend of $0.52.

Dover has increased its dividend by an average of 0.0%per year over the last three years and has raised its dividend every year for the last 70 years. Dover has a dividend payout ratio of 20.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Dover to earn $11.48 per share next year, which means the company should continue to be able to cover its $2.10 annual dividend with an expected future payout ratio of 18.3%.

Dover Trading Down 1.6%

Dover stock opened at $198.54 on Friday. The stock has a 50-day moving average price of $210.67 and a 200 day moving average price of $215.13. Dover has a 52 week low of $158.97 and a 52 week high of $237.54. The stock has a market cap of $26.74 billion, a PE ratio of 23.92, a P/E/G ratio of 1.53 and a beta of 1.16. The company has a current ratio of 1.98, a quick ratio of 1.41 and a debt-to-equity ratio of 0.33.

Dover (NYSE:DOV - Get Free Report) last released its earnings results on Thursday, July 23rd. The industrial products company reported $2.74 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.72 by $0.02. The company had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.21 billion. Dover had a net margin of 13.48% and a return on equity of 18.32%. The firm's quarterly revenue was up 6.8% on a year-over-year basis. During the same period in the prior year, the firm earned $2.44 EPS. Dover has set its FY 2026 guidance at 10.550-10.750 EPS. Equities research analysts predict that Dover will post 10.67 earnings per share for the current fiscal year.

Dover Company Profile

Dover Corporation is a diversified global manufacturer of industrial products, components and specialty systems that serve a wide range of commercial and industrial end markets. Headquartered in Downers Grove, Illinois, the company has built a portfolio of operating businesses that design, manufacture and distribute engineered equipment, aftermarket parts and related services for customers around the world.

Dover's activities span several product and solution categories, including fluid-handling and pumping systems, material handling and processing equipment, refrigeration and foodservice technologies, product identification and printing systems, precision components and automation and sensing solutions.

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