Universal Display Corporation (NASDAQ:OLED) Announces $0.50 Quarterly Dividend

Key Points

• Universal Display declared a quarterly dividend of $0.50 per share, payable September 30 to shareholders of record on September 16, representing a $2.00 annualized dividend and approximately a 2.5% yield.
• The company has increased its dividend for eight consecutive years, with a current payout ratio of 35.3%; analysts expect earnings to support a projected future payout ratio of about 40.2%.
• Quarterly EPS of $1.06 exceeded estimates of $1.04, but revenue of $152.16 million missed expectations and declined 11.4% year over year. Shares opened at $80.36, near the company’s one-year low of $77.15.

Universal Display Corporation (NASDAQ:OLED - Get Free Report) announced a quarterly dividend on Thursday, July 30th. Investors of record on Wednesday, September 16th will be paid a dividend of 0.50 per share by the semiconductor company on Wednesday, September 30th. This represents a c) dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Wednesday, September 16th.

Universal Display has increased its dividend payment by an average of 0.2%annually over the last three years and has raised its dividend every year for the last 8 years. Universal Display has a dividend payout ratio of 35.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Universal Display to earn $4.97 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 40.2%.

Universal Display Price Performance

OLED opened at $80.36 on Friday. The firm has a market capitalization of $3.76 billion, a PE ratio of 17.94 and a beta of 1.54. The business's 50-day moving average is $85.73 and its two-hundred day moving average is $97.26. Universal Display has a 1 year low of $77.15 and a 1 year high of $153.38.

Universal Display (NASDAQ:OLED - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The semiconductor company reported $1.06 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.04 by $0.02. Universal Display had a net margin of 34.08% and a return on equity of 12.34%. The firm had revenue of $152.16 million for the quarter, compared to the consensus estimate of $157.54 million. During the same quarter in the previous year, the firm earned $1.41 EPS. The company's quarterly revenue was down 11.4% compared to the same quarter last year. As a group, sell-side analysts expect that Universal Display will post 4.23 EPS for the current year.

Hedge Funds Weigh In On Universal Display

Several institutional investors and hedge funds have recently bought and sold shares of OLED. Measured Wealth Private Client Group LLC acquired a new position in Universal Display in the third quarter valued at approximately $33,000. Canada Pension Plan Investment Board acquired a new stake in Universal Display during the second quarter worth $62,000. RHL Group LLC acquired a new stake in Universal Display during the fourth quarter worth $60,000. UMB Bank n.a. raised its position in Universal Display by 28.3% in the fourth quarter. UMB Bank n.a. now owns 549 shares of the semiconductor company's stock valued at $64,000 after purchasing an additional 121 shares during the period. Finally, Eurizon Capital SGR S.p.A. acquired a new position in shares of Universal Display in the 4th quarter valued at $75,000. 78.19% of the stock is currently owned by institutional investors and hedge funds.

Universal Display Company Profile

Universal Display Corporation NASDAQ: OLED is a technology company specializing in organic light-emitting diode (OLED) solutions. The company develops and commercializes materials, technologies and software used in the creation of OLED displays and lighting. Its offerings include proprietary phosphorescent OLED (PHOLED) materials, display driver integrated circuits and process technologies that enable higher efficiency, longer lifetimes and improved color performance for a range of display and lighting applications.

Universal Display's core business is licensing its extensive OLED patent portfolio to display manufacturers and providing them with the key organic materials needed for device fabrication.

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