WALTHAM, Mass. - Thermo Fisher Scientific Inc. (NYSE: NYSE:TMO), a prominent player in serving the scientific community, has declared a quarterly cash dividend. The company's Board of Directors has approved a dividend of $0.39 per common share, which is slated for distribution on July 15, 2024. This dividend will be available to shareholders who are on record by June 14, 2024.
The announcement reflects Thermo Fisher's ongoing commitment to providing returns to its investors. As a global organization, Thermo Fisher Scientific boasts a comprehensive portfolio of brands such as Thermo Scientific, Applied Biosystems, and Invitrogen, among others.
The company's mission is to aid customers in making the world healthier, cleaner, and safer by supporting advancements in life sciences research, laboratory productivity, diagnostics, and the development of new therapies.
With an annual revenue surpassing $40 billion, Thermo Fisher Scientific positions itself as a leader in its field, offering a combination of innovative technologies and services. The company's global team is dedicated to delivering convenience and comprehensive solutions to the scientific community.
This financial move by Thermo Fisher is part of its regular activities as a publicly traded entity and serves as an indicator of its financial health and stability. Dividends are a way for companies to share profits with their shareholders and can be a sign of a company's confidence in its ongoing financial performance.
The information for this news article is based on a press release statement from Thermo Fisher Scientific Inc.
InvestingPro Insights
Thermo Fisher Scientific Inc. (NYSE: TMO) continues to showcase its financial strength and commitment to shareholders with its latest dividend announcement. The company's management has demonstrated confidence in its financial stability through a history of shareholder returns, including an impressive record of raising its dividend for six consecutive years. This is part of a broader strategy that has seen Thermo Fisher maintaining dividend payments for 13 consecutive years, underlining the company’s dedication to providing consistent returns to its investors.
The company's financials are robust, with a market capitalization of $225.6 billion and a P/E ratio standing at 37.75. While the P/E ratio is high, reflecting a premium valuation, it's important to note that the company has been successful in maintaining a low price volatility, which may appeal to investors looking for stability in their investments.
Thermo Fisher's status as a prominent player in the Life Sciences Tools & Services industry is further solidified by its strong gross profit margin of 40.37% over the last twelve months as of Q1 2024, showcasing its ability to maintain profitability in its operations.
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