Dolby Laboratories (NYSE:DLB) Plans Quarterly Dividend of $0.33

Key Points

• Dolby Laboratories announced a quarterly dividend of $0.33 per share, with a dividend yield of 1.8%, payable on August 20th to investors of record on August 12th.
• The company has a current payout ratio of 31.4%, indicating that the dividend is well-covered by earnings, with future projections suggesting a payout ratio increase to 41.5%.
• Dolby missed analysts' earnings expectations with an EPS of $0.53, falling short of the consensus estimate of $0.72.

Dolby Laboratories (NYSE:DLB - Get Free Report) announced a quarterly dividend on Thursday, July 31st, RTT News reports. Stockholders of record on Tuesday, August 12th will be paid a dividend of 0.33 per share by the electronics maker on Wednesday, August 20th. This represents a c) dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Tuesday, August 12th.

Dolby Laboratories has a payout ratio of 31.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect Dolby Laboratories to earn $3.18 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 41.5%.

Dolby Laboratories Stock Performance

Shares of Dolby Laboratories stock traded up $1.48 during trading on Monday, reaching $71.57. The company had a trading volume of 59,830 shares, compared to its average volume of 427,291. The company has a market cap of $6.88 billion, a price-to-earnings ratio of 26.23 and a beta of 0.91. The firm's fifty day moving average is $74.92 and its 200-day moving average is $77.54. Dolby Laboratories has a fifty-two week low of $66.35 and a fifty-two week high of $89.66.

Dolby Laboratories (NYSE:DLB - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The electronics maker reported $0.78 EPS for the quarter, beating the consensus estimate of $0.72 by $0.06. Dolby Laboratories had a net margin of 19.62% and a return on equity of 11.52%. The business had revenue of $315.55 million during the quarter, compared to analyst estimates of $305.23 million. During the same period in the previous year, the business posted $0.71 EPS. The company's quarterly revenue was up 9.2% on a year-over-year basis. On average, research analysts anticipate that Dolby Laboratories will post 2.94 EPS for the current fiscal year.

Analyst Ratings Changes

DLB has been the subject of several research analyst reports. Barrington Research reaffirmed an "outperform" rating and issued a $100.00 price objective on shares of Dolby Laboratories in a report on Friday, May 2nd. Rosenblatt Securities reissued a "buy" rating and issued a $95.00 price target on shares of Dolby Laboratories in a research note on Friday. Wall Street Zen upgraded shares of Dolby Laboratories from a "hold" rating to a "buy" rating in a report on Friday, May 30th. Finally, Tigress Financial assumed coverage on shares of Dolby Laboratories in a report on Thursday, May 15th. They issued a "buy" rating and a $112.00 price target on the stock.

About Dolby Laboratories

Dolby Laboratories, Inc creates audio and imaging technologies that transform entertainment at the cinema, DTV transmissions and devices, mobile devices, OTT video and music services, home entertainment devices, and automobiles. The company develops and licenses its audio technologies, such as AAC & HE-AAC, a digital audio codec solution used for a range of media applications; AVC, a digital video codec with high bandwidth efficiency used in various media devices; Dolby AC-4, a digital audio coding technology that delivers new audio experiences to a range of playback devices; and Dolby Atmos technology for cinema and various media devices.