Dolby Laboratories, Inc. (NYSE:DLB – Get Free Report) declared a quarterly dividend on Thursday, May 2nd, Wall Street Journal reports. Shareholders 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 annualized dividend and a yield of 1.46%. The ex-dividend date is Monday, May 13th.
Dolby Laboratories has increased its dividend by an average of 8.1% annually over the last three years and has increased its dividend annually for the last 3 consecutive years. Dolby Laboratories has a payout ratio of 38.5% indicating that its dividend is sufficiently covered by earnings. 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 Stock Performance
NYSE DLB opened at $82.08 on Friday. Dolby Laboratories has a twelve month low of $75.87 and a twelve month high of $91.01. The stock has a market cap of $7.85 billion, a price-to-earnings ratio of 41.88 and a beta of 0.98. The firm’s 50 day moving average price is $81.65 and its two-hundred day moving average price is $83.22.
Insider Buying and Selling at Dolby Laboratories
In other Dolby Laboratories news, SVP John D. Couling sold 33,560 shares of Dolby Laboratories stock in a transaction on Friday, February 9th. The shares were sold at an average price of $80.81, for a total transaction of $2,711,983.60. Following the completion of the sale, the senior vice president now owns 108,519 shares of the company’s stock, valued at approximately $8,769,420.39. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 39.54% of the company’s stock.
Wall Street Analyst Weigh In
DLB has been the topic of several research analyst reports. Rosenblatt Securities reiterated a “buy” rating and set a $98.00 price objective on shares of Dolby Laboratories in a research report on Monday, April 29th. StockNews.com lowered shares of Dolby Laboratories from a “buy” rating to a “hold” rating in a research note on Friday.
View Our Latest Stock Report on DLB
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.
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