Dole PLC (NYSE:DOLE) Declares $0.09 Quarterly Dividend

Dole PLC (NYSE:DOLE) announced a quarterly dividend on Tuesday, February 24th. Stockholders of record on Wednesday, March 18th will be given a dividend of 0.085 per share on Wednesday, April 8th. This represents a c) annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Wednesday, March 18th.

Dole has a payout ratio of 22.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect Dole to earn $1.38 per share next year, which means the company should continue to be able to cover its $0.34 annual dividend with an expected future payout ratio of 24.6%.

Dole Trading Down 2.2%

Shares of DOLE traded down $0.36 during trading hours on Wednesday, hitting $15.63. The stock had a trading volume of 1,311,342 shares, compared to its average volume of 695,587. The firm has a market cap of $1.49 billion, a P/E ratio of 104.21, a P/E/G ratio of 1.93 and a beta of 0.64. Dole has a 12-month low of $12.52 and a 12-month high of $16.57. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.90 and a current ratio of 1.21. The company’s fifty day simple moving average is $15.33 and its 200 day simple moving average is $14.34.

Dole (NYSE:DOLE) last announced its earnings results on Wednesday, February 25th. The company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.12 by $0.02. The business had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.32 billion. Dole had a return on equity of 7.98% and a net margin of 0.17%.The company’s revenue was up 9.2% on a year-over-year basis. During the same period last year, the business posted $0.16 EPS. Equities research analysts forecast that Dole will post 1.19 EPS for the current fiscal year.

Dole declared that its Board of Directors has approved a share buyback program on Monday, November 10th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the company to repurchase up to 8.3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

About Dole

Dole plc is a global producer, marketer and distributor of fresh fruits and vegetables. The company’s product range includes bananas, pineapples, berries, grapes, salads and a variety of other fresh and packaged produce, sold under the Dole brand and through private-label arrangements. Dole’s operations span the full fresh-produce value chain, from farming and sourcing to packing, ripening, cold‑chain logistics and wholesale and retail distribution, supporting both retail grocery and foodservice customers.

The company traces its commercial heritage to the early 20th century Hawaiian pineapple business founded by James Dole and has evolved through subsequent corporate restructurings and combinations.