Cardinal Health, Inc. (NYSE:CAH) declared a quarterly dividend on Wednesday, August 9th, RTT News reports. Investors of record on Monday, October 2nd will be paid a dividend of 0.4624 per share on Sunday, October 15th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date is Friday, September 29th.

Cardinal Health has raised its dividend payment by an average of 13.1% annually over the last three years and has raised its dividend annually for the last 12 consecutive years. Cardinal Health has a payout ratio of 37.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect Cardinal Health to earn $5.52 per share next year, which means the company should continue to be able to cover its $1.85 annual dividend with an expected future payout ratio of 33.5%.

Cardinal Health (NYSE CAH) opened at 66.66 on Friday. The company has a market cap of $21.09 billion, a PE ratio of 16.54 and a beta of 0.85. The company has a 50 day moving average price of $67.69 and a 200-day moving average price of $74.72. Cardinal Health has a 12 month low of $62.70 and a 12 month high of $84.88.

Cardinal Health (NYSE:CAH) last issued its quarterly earnings data on Wednesday, August 2nd. The company reported $1.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.24 by $0.07. The business had revenue of $32.97 billion for the quarter, compared to analysts’ expectations of $32.73 billion. Cardinal Health had a return on equity of 26.20% and a net margin of 0.99%. The firm’s quarterly revenue was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.14 EPS. Equities analysts predict that Cardinal Health will post $4.96 earnings per share for the current fiscal year.

A number of equities analysts have weighed in on the company. Evercore ISI restated an “outperform” rating on shares of Cardinal Health in a research note on Tuesday, July 4th. Zacks Investment Research lowered Cardinal Health from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. Credit Suisse Group restated an “outperform” rating and issued a $87.00 target price (up from $81.00) on shares of Cardinal Health in a research note on Thursday, July 13th. BidaskClub lowered Cardinal Health from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Finally, Jefferies Group LLC restated a “hold” rating and issued a $77.00 target price on shares of Cardinal Health in a research note on Thursday, July 27th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $76.81.

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Cardinal Health Company Profile

Cardinal Health, Inc is a healthcare services and products company. The Company operates through two segments: Pharmaceutical and Medical. The Pharmaceutical segment distributes branded and generic pharmaceutical, specialty pharmaceutical, over-the-counter healthcare and consumer products. This segment also operates nuclear pharmacies and cyclotron facilities; provides pharmacy management services to hospitals, as well as medication therapy management and patient outcomes services to hospitals, other healthcare providers and payers, and provides services to healthcare companies.

Dividend History for Cardinal Health (NYSE:CAH)

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