The Clorox Company (NYSE:CLX) Raises Dividend to $1.25 Per Share

Key Points

• Clorox raised its quarterly dividend 0.8% to $1.25 per share, payable August 28 to shareholders of record August 12. The annualized dividend implies a 4.8% yield and extends the company’s dividend-growth streak to 47 consecutive years.
• The dividend appears supported by earnings, with a current payout ratio of 73.3% and an expected future payout ratio of 77.8% based on projected annual earnings of $6.43 per share.
• Clorox reported quarterly earnings of $1.66 per share, exceeding analysts’ $1.64 estimate, while revenue of $1.95 billion also topped expectations. However, revenue declined 2% year over year, and the stock opened at $105.24.

The Clorox Company (NYSE:CLX - Get Free Report) announced a quarterly dividend on Friday, July 31st. Shareholders of record on Wednesday, August 12th will be paid a dividend of 1.25 per share on Friday, August 28th. This represents a c) annualized dividend and a yield of 4.8%. The ex-dividend date is Wednesday, August 12th. This is a 0.8% increase from Clorox's previous quarterly dividend of $1.24.

Clorox has increased its dividend by an average of 0.0%annually over the last three years and has increased its dividend annually for the last 47 consecutive years. Clorox has a payout ratio of 73.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Clorox to earn $6.43 per share next year, which means the company should continue to be able to cover its $5.00 annual dividend with an expected future payout ratio of 77.8%.

Clorox Trading Up 0.1%

CLX opened at $105.24 on Monday. The company has a current ratio of 0.66, a quick ratio of 0.38 and a debt-to-equity ratio of 15.80. The firm has a market cap of $12.73 billion, a price-to-earnings ratio of 21.83, a PEG ratio of 3.13 and a beta of 0.54. Clorox has a 12 month low of $84.70 and a 12 month high of $128.90. The stock has a fifty day moving average price of $96.41 and a 200-day moving average price of $103.42.

Clorox (NYSE:CLX - Get Free Report) last issued its quarterly earnings data on Monday, August 3rd. The company reported $1.66 earnings per share for the quarter, beating analysts' consensus estimates of $1.64 by $0.02. The company had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.91 billion. Clorox had a return on equity of 522.23% and a net margin of 8.74%.The firm's revenue for the quarter was down 2.0% compared to the same quarter last year. During the same quarter last year, the company earned $2.87 earnings per share. Clorox has set its FY 2027 guidance at 5.700-6.000 EPS. As a group, equities research analysts anticipate that Clorox will post 5.82 earnings per share for the current fiscal year.

About Clorox

The Clorox Company is a leading manufacturer and marketer of consumer and professional products designed to help people care for their homes and live healthy, sustainable lives. Its portfolio spans cleaning and household products, food and beverages, water filtration systems and cat litter, serving both retail and institutional customers. The company's flagship bleach and disinfecting products are well known in the United States and many international markets, where they help prevent the spread of germs in homes, hospitals, schools and businesses.

Clorox's diverse brand lineup includes liquid bleach and surface cleaners, eco-friendly cleaning tools, food preservation and preparation items, charcoal grills and briquettes, specialty foods and beverages, pet care products and personal care lines.

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