Dolby Laboratories, Inc. (DLB) To Go Ex-Dividend on May 13th

Dolby Laboratories, Inc. (NYSE:DLB) announced a quarterly dividend on Thursday, May 2nd, Wall Street Journal reports. Stockholders of record on Tuesday, May 14th will be given a dividend of 0.30 per share by the electronics maker on Wednesday, May 22nd. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date is Monday, May 13th.

Dolby Laboratories has raised its dividend by an average of 8.1% annually over the last three years and has increased its dividend every year for the last 3 years. Dolby Laboratories has a dividend payout ratio of 38.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Dolby Laboratories to earn $2.72 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 44.1%.

Dolby Laboratories Price Performance

DLB opened at $82.08 on Friday. The stock has a market capitalization of $7.85 billion, a price-to-earnings ratio of 41.88 and a beta of 0.98. The business has a fifty day moving average price of $81.65 and a 200 day moving average price of $83.22. Dolby Laboratories has a 12 month low of $75.87 and a 12 month high of $91.01.

Dolby Laboratories (NYSE:DLB) last issued its earnings results on Thursday, February 1st. The electronics maker reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.14. Dolby Laboratories had a net margin of 15.00% and a return on equity of 10.22%. The firm had revenue of $315.57 million for the quarter, compared to analysts’ expectations of $310.98 million. On average, research analysts anticipate that Dolby Laboratories will post 2.6 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on DLB. StockNews.com cut Dolby Laboratories from a “buy” rating to a “hold” rating in a research note on Friday. Rosenblatt Securities restated a “buy” rating and set a $98.00 price objective on shares of Dolby Laboratories in a research report on Monday, April 29th.

Insider Activity

In related news, SVP John D. Couling sold 33,560 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $80.81, for a total transaction of $2,711,983.60. Following the transaction, the senior vice president now owns 108,519 shares of the company’s stock, valued at $8,769,420.39. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 39.54% of the company’s stock.

Dolby Laboratories Company Profile

Dolby Laboratories, Inc creates audio and imaging technologies that transform entertainment at the cinema, DTV transmissions and devices, mobile devices, OTT video and music services, home entertainment devices, and automobiles. The company develops and licenses its audio technologies, such as AAC & HE-AAC, a digital audio codec solution used for a range of media applications; AVC, a digital video codec with high bandwidth efficiency used in various media devices; Dolby AC-4, a digital audio coding technology that delivers new audio experiences to a range of playback devices; and Dolby Atmos technology for cinema and various media devices.