STERIS plc (NYSE:STE) Increases Dividend to $0.63 Per Share

Key Points

• STERIS plc announced a quarterly dividend increase to $0.63 per share, marking a 10.5% increase from its previous dividend of $0.57.
• The company has a dividend payout ratio of 20.7%, indicating strong earnings coverage for its dividends, with forecasts suggesting an ability to maintain the payout in the future.
• Shares of STERIS (NYSE:STE) traded up 0.4%, reaching $229.28, with a market capitalization of $22.55 billion and a PE ratio of 36.98.

STERIS plc (NYSE:STE - Get Free Report) announced a quarterly dividend on Wednesday, July 30th, RTT News reports. Investors of record on Thursday, September 4th will be given a dividend of 0.63 per share by the medical equipment provider on Friday, September 26th. This represents a c) annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Thursday, September 4th. This is a 10.5% increase from STERIS's previous quarterly dividend of $0.57.

STERIS has a dividend payout ratio of 20.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect STERIS to earn $9.93 per share next year, which means the company should continue to be able to cover its $2.28 annual dividend with an expected future payout ratio of 23.0%.

STERIS Stock Down 0.1%

STERIS stock traded down $0.12 during midday trading on Friday, hitting $226.37. 466,447 shares of the stock were exchanged, compared to its average volume of 598,671. STERIS has a 1 year low of $200.98 and a 1 year high of $252.79. The firm has a market cap of $22.27 billion, a P/E ratio of 36.56 and a beta of 0.92. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.96 and a quick ratio of 1.39. The company has a 50 day moving average price of $235.88 and a two-hundred day moving average price of $227.84.

STERIS (NYSE:STE - Get Free Report) last released its quarterly earnings results on Wednesday, May 14th. The medical equipment provider reported $2.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.59 by $0.15. STERIS had a net margin of 11.26% and a return on equity of 14.21%. The firm had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.47 billion. During the same quarter in the previous year, the firm posted $2.58 EPS. The firm's quarterly revenue was up 5.7% on a year-over-year basis. On average, sell-side analysts predict that STERIS will post 9.08 earnings per share for the current fiscal year.

STERIS Company Profile

STERIS plc provides infection prevention products and services worldwide. It operates through four segments: Healthcare, Applied Sterilization Technologies, Life Sciences, and Dental. The Healthcare segment offers cleaning chemistries and sterility assurance products; automated endoscope reprocessing system and tracking products; endoscopy accessories, washers, sterilizers, and other pieces of capital equipment for the operation of a sterile processing department; and equipment used directly in the operating room, including surgical tables, lights, and connectivity solutions, as well as equipment management services.