Dolby Laboratories (NYSE:DLB) Declares Quarterly Dividend of $0.36

Key Points

• Dolby declared a quarterly dividend of $0.36 per share, payable May 20 to shareholders of record on May 12, which annualizes to $1.44 and yields about 2.2%.
• Dolby has raised its dividend every year for the last 10 years and carries a payout ratio of 34.2%, with analysts forecasting roughly $3.31 EPS next year that would imply a future payout ratio near 43.5%, indicating the dividend is currently covered by earnings.
• The stock trades around $64 with a market cap of $6.13 billion and a P/E of about 25.9, and Wall Street consensus is a Moderate Buy with an average price target of $90.75.

Dolby Laboratories (NYSE:DLB - Get Free Report) announced a quarterly dividend on Thursday, April 30th. Stockholders of record on Tuesday, May 12th will be given a dividend of 0.36 per share by the electronics maker on Wednesday, May 20th. This represents a c) dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Tuesday, May 12th.

Dolby Laboratories has raised its dividend by an average of 0.1%per year over the last three years and has raised its dividend every year for the last 10 years. Dolby Laboratories has a payout ratio of 34.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect Dolby Laboratories to earn $3.31 per share next year, which means the company should continue to be able to cover its $1.44 annual dividend with an expected future payout ratio of 43.5%.

Dolby Laboratories Price Performance

DLB stock opened at $64.21 on Friday. The business has a 50 day simple moving average of $62.58 and a 200-day simple moving average of $64.55. The firm has a market capitalization of $6.13 billion, a PE ratio of 25.89 and a beta of 0.86. Dolby Laboratories has a 1 year low of $57.62 and a 1 year high of $78.28.

Dolby Laboratories (NYSE:DLB - Get Free Report) last posted its quarterly earnings results on Thursday, January 29th. The electronics maker reported $1.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.99 by $0.07. The business had revenue of $346.71 million during the quarter, compared to analyst estimates of $341.26 million. Dolby Laboratories had a return on equity of 11.50% and a net margin of 17.97%.The business's revenue was down 2.8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.14 earnings per share. On average, equities research analysts expect that Dolby Laboratories will post 3.17 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on DLB shares. Weiss Ratings reiterated a "hold (c-)" rating on shares of Dolby Laboratories in a research report on Friday, March 27th. Rosenblatt Securities reiterated a "buy" rating and issued a $85.00 price objective on shares of Dolby Laboratories in a research report on Friday, January 30th. Barrington Research reiterated an "outperform" rating and issued a $90.00 price objective on shares of Dolby Laboratories in a research report on Monday. Finally, Wall Street Zen lowered Dolby Laboratories from a "buy" rating to a "hold" rating in a research report on Saturday, January 31st. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $90.75.

Dolby Laboratories Company Profile

Dolby Laboratories, Inc is a global leader in audio and imaging technologies, specializing in the development, licensing and deployment of solutions that enhance entertainment and communications experiences. The company's core business revolves around creating advanced audio codecs, noise reduction systems and spatial sound technologies for a wide range of applications, including cinema, broadcast, gaming, streaming and personal devices. Dolby's licensing model enables consumer electronics manufacturers, content creators and service providers to integrate its technologies into products such as televisions, smartphones, home theater systems and set-top boxes.

Among its flagship innovations are Dolby Atmos, an immersive audio format that delivers three-dimensional soundscapes for theaters and home systems; Dolby Digital and Dolby Digital Plus, widely adopted audio compression formats for broadcast and streaming; and Dolby Vision, a high-dynamic-range imaging technology that expands color, contrast and brightness in displays.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.