DUBLIN, Ohio - Cardinal Health (NYSE:CAH), a global healthcare services and products company, has declared an increase in its quarterly dividend. The company's Board of Directors approved the new dividend of $0.50 per share, which will be distributed from the company's capital surplus. This updated dividend is scheduled to be paid on July 15, 2024, to shareholders who are on record as of July 1, 2024.
The announcement reflects a continuation of Cardinal Health's commitment to delivering value to its shareholders. The company, with a history spanning over half a century, has a significant presence in the healthcare sector. It is involved in the distribution of pharmaceuticals and medical products, and also offers various services and solutions aimed at improving the efficiency and performance of healthcare facilities.
Cardinal Health operates across more than 30 countries and employs approximately 48,000 people worldwide. The company's role in the healthcare industry is substantial, providing necessary services and products that support care delivery.
Shareholders receiving this dividend will benefit from the company's financial strategy, which includes returning capital to its investors. The dividend increase is a sign of Cardinal Health's financial health and its board's confidence in the company's ability to generate surplus capital.
InvestingPro Insights
Cardinal Health's recent dividend increase is a testament to its commitment to shareholder returns, underscored by a remarkable track record of raising dividends for 36 consecutive years, as highlighted in one of the InvestingPro Tips. This consistency in dividend growth is a strong signal of the company's financial stability and prudent capital management. Moreover, the company's management has been actively engaging in share buybacks, further indicating their confidence in the future of the business.
The financial health of Cardinal Health is also reflected in its solid fundamentals. The company boasts a significant market capitalization of $24.29 billion, showing its substantial size within the healthcare sector. Additionally, the stock's dividend yield stands at 2.03% as of the latest data, offering a competitive return for income-focused investors. Furthermore, the company's revenue has experienced a growth of 11.03% over the last twelve months as of Q3 2024, demonstrating its ability to expand its operations and maintain a steady top-line performance.
For investors seeking a deeper analysis and additional insights, there are 17 more InvestingPro Tips available for Cardinal Health at InvestingPro. These tips include perspectives on valuation, profitability, and stock performance that can help investors make more informed decisions. To access these insights and more, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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