Perrigo Company plc (NYSE:PRGO) Announces Quarterly Dividend of $0.29

Key Points

• Perrigo Company plc has declared a quarterly dividend of $0.29 per share, which amounts to an annualized dividend of $1.16 and represents a yield of 4.21% for investors.
• The company's dividend payout ratio stands at 35.5%, indicating that the dividends are well-covered by earnings, with future estimates projecting a payout ratio of 37.9%.
• Perrigo's stock price recently traded at $27.54, with a market capitalization of approximately $3.79 billion and a recent analyst downgrade from "buy" to "hold" affecting its market outlook.

Perrigo Company plc (NYSE:PRGO - Get Free Report) declared a quarterly dividend on Wednesday, July 30th, RTT News reports. Stockholders of record on Friday, August 29th will be given a dividend of 0.29 per share on Tuesday, September 16th. This represents a c) annualized dividend and a dividend yield of 4.3%. The ex-dividend date of this dividend is Friday, August 29th.

Perrigo has a payout ratio of 35.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Perrigo to earn $3.06 per share next year, which means the company should continue to be able to cover its $1.16 annual dividend with an expected future payout ratio of 37.9%.

Perrigo Stock Up 0.1%

Shares of PRGO stock traded up $0.02 during mid-day trading on Friday, hitting $26.69. The company's stock had a trading volume of 1,115,239 shares, compared to its average volume of 864,587. Perrigo has a 52-week low of $23.14 and a 52-week high of $30.93. The business has a 50-day moving average price of $27.01 and a 200 day moving average price of $26.30. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.28 and a current ratio of 2.36. The stock has a market cap of $3.67 billion, a price-to-earnings ratio of -20.37 and a beta of 0.47.

Perrigo (NYSE:PRGO - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.04. Perrigo had a positive return on equity of 8.93% and a negative net margin of 4.16%. The firm had revenue of $1.04 billion during the quarter, compared to analysts' expectations of $1.09 billion. During the same quarter in the previous year, the business earned $0.29 earnings per share. The company's revenue was down 3.5% on a year-over-year basis. Research analysts predict that Perrigo will post 2.56 EPS for the current fiscal year.

Perrigo Company Profile

Perrigo Company plc provides over-the-counter health and wellness solutions to enhance individual well-being in the United States, Europe, and internationally. It operates through Consumer Self-Care Americas and Consumer Self-Care International segments. The company develops, manufactures, markets, and distributes self-care consumer products, such as upper respiratory products, including cough suppressants, expectorants, and sinus and allergy relief; nutrition products consisting of infant formulas and nutritional beverages; digestive health products, including antacids, anti-diarrheal, and anti-heartburn; pain and sleep-aids products comprising pain relievers and fever reducers; and oral care products, which include toothbrushes, toothbrush replacement heads, floss, flossers, whitening products, and toothbrush covers.