Novo Nordisk A/S (NYSE:NVO) Declares Dividend Increase – $0.34 Per Share
Novo Nordisk A/S (NYSE:NVO) announced a dividend on Wednesday, August 9th, NASDAQ reports. Shareholders of record on Monday, August 21st will be given a dividend of 0.336 per share on Tuesday, August 29th. The ex-dividend date is Friday, August 18th. This is a positive change from Novo Nordisk A/S’s previous dividend of $0.33.
Novo Nordisk A/S has raised its dividend payment by an average of 31.5% per year over the last three years and has raised its dividend annually for the last 20 consecutive years. Novo Nordisk A/S has a payout ratio of 20.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Novo Nordisk A/S to earn $2.51 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 19.1%.
Novo Nordisk A/S (NVO) traded down 1.021% during midday trading on Thursday, hitting $44.115. The company’s stock had a trading volume of 1,382,154 shares. The company’s 50-day moving average is $42.68 and its 200 day moving average is $38.69. Novo Nordisk A/S has a one year low of $30.89 and a one year high of $47.98. The company has a market cap of $110.10 billion, a price-to-earnings ratio of 18.147 and a beta of 0.63.
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NVO has been the topic of a number of research reports. Zacks Investment Research lowered Novo Nordisk A/S from a “buy” rating to a “hold” rating in a report on Monday, July 24th. BidaskClub lowered Novo Nordisk A/S from a “buy” rating to a “hold” rating in a report on Thursday, June 29th. Finally, TheStreet raised Novo Nordisk A/S from a “c+” rating to a “b-” rating in a report on Tuesday, May 2nd. Five research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $53.00.
About Novo Nordisk A/S
Novo Nordisk A/S is a global healthcare company engaged in diabetes care. The Company is also engaged in the discovery, development, manufacturing and marketing of pharmaceutical products. The Company operates through two business segments: diabetes and obesity care, and biopharmaceuticals. The Company’s diabetes and obesity care segment covers insulin, GLP-1, other protein-related products, such as glucagon, protein-related delivery systems and needles, and oral anti-diabetic drugs.
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