Dolby Laboratories, Inc. to Issue Quarterly Dividend of $0.30 (NYSE:DLB)

Dolby Laboratories, Inc. (NYSE:DLB - Get Free Report) declared a quarterly dividend on Friday, May 3rd, Wall Street Journal reports. Shareholders of record on Tuesday, May 14th will be given a dividend of 0.30 per share by the electronics maker on Wednesday, May 22nd. This represents a $1.20 annualized dividend and a dividend yield of 1.46%. The ex-dividend date of this dividend is Monday, May 13th.

Dolby Laboratories has increased its dividend payment by an average of 8.1% per year over the last three years and has increased its dividend every year for the last 3 years. Dolby Laboratories has a payout ratio of 38.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect Dolby Laboratories to earn $2.72 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 44.1%.

Dolby Laboratories Trading Up 3.0 %

DLB traded up $2.37 on Friday, hitting $82.08. 730,540 shares of the company were exchanged, compared to its average volume of 370,535. The company has a market cap of $7.85 billion, a price-to-earnings ratio of 42.53 and a beta of 0.98. The firm has a 50-day moving average price of $81.61 and a two-hundred day moving average price of $83.22. Dolby Laboratories has a twelve month low of $75.87 and a twelve month high of $91.01.

Dolby Laboratories (NYSE:DLB - Get Free Report) last announced its quarterly earnings data on Thursday, February 1st. The electronics maker reported $0.76 EPS for the quarter, beating analysts' consensus estimates of $0.62 by $0.14. Dolby Laboratories had a net margin of 14.70% and a return on equity of 10.21%. The company had revenue of $315.57 million for the quarter, compared to the consensus estimate of $310.98 million. Equities analysts expect that Dolby Laboratories will post 2.6 EPS for the current year.

Insider Buying and Selling at Dolby Laboratories

In other Dolby Laboratories news, SVP John D. Couling sold 33,560 shares of the stock in a transaction on Friday, February 9th. The stock was sold at an average price of $80.81, for a total transaction of $2,711,983.60. Following the sale, the senior vice president now owns 108,519 shares in the company, valued at approximately $8,769,420.39. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 39.54% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Rosenblatt Securities reiterated a "buy" rating and set a $98.00 price target on shares of Dolby Laboratories in a research note on Monday. StockNews.com cut Dolby Laboratories from a "buy" rating to a "hold" rating in a research report on Friday.

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.

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