Cencora, Inc. (NYSE:COR) Increases Dividend to $0.66 Per Share

Cencora, Inc. (NYSE:COR) declared a quarterly dividend on Tuesday, November 3rd. Shareholders of record on Friday, November 13th will be paid a dividend of $0.66 per share on Monday, November 30th. This represents a $2.64 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Friday, November 13th. This is a 10.0% increase from Cencora’s previous quarterly dividend of $0.60.

Cencora has raised its dividend payment by an average of 0.1% per year over the last three years and has increased its dividend every year for the last 15 years. Cencora has a dividend payout ratio of 13.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Cencora to earn $19.78 per share next year, which means the company should continue to be able to cover its $2.40 annual dividend with an expected future payout ratio of 12.1%.

Cencora Trading Up 4.0%

NYSE:COR traded up $13.70 during midday trading on Wednesday, reaching $354.20. 2,887,495 shares of the stock traded hands, compared to its average volume of 1,468,252. The stock has a market capitalization of $67.59 billion, a P/E ratio of 26.31, a PEG ratio of 1.73 and a beta of 0.58. The company has a debt-to-equity ratio of 3.53, a quick ratio of 0.58 and a current ratio of 0.93. The company has a fifty day moving average of $324.08 and a 200 day moving average of $317.45. Cencora has a 12 month low of $244.82 and a 12 month high of $377.54.

Cencora (NYSE:COR) last posted its earnings results on Wednesday, November 4th. The company reported $4.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.58 by $0.08. The company had revenue of $88.35 billion for the quarter, compared to analysts’ expectations of $87.95 billion. Cencora had a return on equity of 125.45% and a net margin of 0.79%. Cencora’s quarterly revenue was up 5.5% on a year-over-year basis. During the same period last year, the firm earned $3.84 earnings per share. On average, research analysts predict that Cencora will post 17.88 EPS for the current year.

About Cencora

Cencora, formerly known as AmerisourceBergen, is a global pharmaceutical sourcing and distribution company. It provides branded, generic and specialty pharmaceuticals, over-the-counter products and related health care supplies to pharmacies, hospitals, health systems, physician practices and other health care providers.

The company also offers services to pharmaceutical and biotechnology manufacturers, including logistics, commercialization support, market access, consulting, clinical trial support and patient assistance programs.