Dole PLC Plans Quarterly Dividend of $0.09 (NYSE:DOLE)

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

Dole has a dividend payout ratio of 22.7% meaning its dividend is sufficiently covered by earnings. 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 Stock Down 2.2%

Dole stock traded down $0.36 during mid-day trading on Wednesday, reaching $15.63. The company’s stock had a trading volume of 1,311,342 shares, compared to its average volume of 695,587. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.90 and a current ratio of 1.21. Dole has a 12 month low of $12.52 and a 12 month high of $16.57. The business’s 50 day simple moving average is $15.33 and its 200 day simple moving average is $14.34. The company has a market capitalization of $1.49 billion, a price-to-earnings ratio of 104.21, a price-to-earnings-growth ratio of 1.93 and a beta of 0.64.

Dole (NYSE:DOLE) last posted its quarterly earnings data on Wednesday, February 25th. The company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.02. The company had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.32 billion. Dole had a net margin of 0.17% and a return on equity of 7.98%. The company’s quarterly revenue was up 9.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.16 EPS. As a group, research analysts anticipate that Dole will post 1.19 earnings per share for the current year.

Institutional Trading of Dole

A number of hedge funds have recently modified their holdings of DOLE. Vident Advisory LLC grew its stake in Dole by 1.6% in the 4th quarter. Vident Advisory LLC now owns 42,190 shares of the company’s stock valued at $632,000 after buying an additional 678 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Dole by 4.8% during the fourth quarter. PNC Financial Services Group Inc. now owns 16,409 shares of the company’s stock worth $246,000 after acquiring an additional 753 shares during the period. California State Teachers Retirement System grew its position in shares of Dole by 22.8% in the fourth quarter. California State Teachers Retirement System now owns 5,087 shares of the company’s stock valued at $76,000 after purchasing an additional 943 shares during the last quarter. Osaic Holdings Inc. increased its stake in shares of Dole by 120.8% during the second quarter. Osaic Holdings Inc. now owns 1,835 shares of the company’s stock worth $26,000 after purchasing an additional 1,004 shares during the period. Finally, Signaturefd LLC increased its stake in shares of Dole by 190.2% during the fourth quarter. Signaturefd LLC now owns 1,680 shares of the company’s stock worth $25,000 after purchasing an additional 1,101 shares during the period.

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.