Bristol-Myers Squibb Co (BMY) Announces Dividend Increase – $0.41 Per Share

Bristol-Myers Squibb Co (NYSE:BMY) announced a quarterly dividend on Thursday, December 6th, RTT News reports. Investors of record on Friday, January 4th will be given a dividend of 0.41 per share by the biopharmaceutical company on Friday, February 1st. This represents a $1.64 annualized dividend and a dividend yield of 3.08%. This is a boost from Bristol-Myers Squibb’s previous quarterly dividend of $0.40.

Bristol-Myers Squibb has increased its dividend by an average of 2.7% per year over the last three years and has raised its dividend every year for the last 8 years. Bristol-Myers Squibb has a payout ratio of 44.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Bristol-Myers Squibb to earn $4.08 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 39.2%.

Shares of NYSE:BMY traded up $1.22 during trading on Thursday, hitting $53.25. 11,209,883 shares of the company’s stock were exchanged, compared to its average volume of 7,804,475. The company has a current ratio of 1.53, a quick ratio of 1.40 and a debt-to-equity ratio of 0.41. Bristol-Myers Squibb has a 52-week low of $46.94 and a 52-week high of $70.05. The stock has a market capitalization of $84.92 billion, a P/E ratio of 17.69, a P/E/G ratio of 1.45 and a beta of 1.11.

Bristol-Myers Squibb (NYSE:BMY) last released its earnings results on Thursday, October 25th. The biopharmaceutical company reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.18. Bristol-Myers Squibb had a return on equity of 47.89% and a net margin of 6.50%. The firm had revenue of $5.69 billion during the quarter, compared to analysts’ expectations of $5.72 billion. On average, research analysts predict that Bristol-Myers Squibb will post 3.87 earnings per share for the current fiscal year.

Several equities analysts have weighed in on the company. BMO Capital Markets upgraded Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and set a $60.00 price target for the company in a report on Thursday. William Blair restated an “outperform” rating on shares of Bristol-Myers Squibb in a report on Tuesday, November 27th. Societe Generale set a $47.00 price target on Bristol-Myers Squibb and gave the company a “sell” rating in a report on Wednesday, November 14th. Morgan Stanley cut their price target on Bristol-Myers Squibb from $63.00 to $59.00 and set a “hold” rating for the company in a report on Tuesday, November 6th. Finally, Wolfe Research assumed coverage on Bristol-Myers Squibb in a report on Tuesday, October 23rd. They set an “outperform” rating and a $66.00 price target for the company. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $61.95.

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Bristol-Myers Squibb Company Profile

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, and distributes biopharmaceutical products worldwide. The company offers drugs in various therapeutic classes, such as oncology; cardiovascular; immunoscience; and virology, including human immunodeficiency virus (HIV) infection.

Further Reading: Balance Sheet

Dividend History for Bristol-Myers Squibb (NYSE:BMY)

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