Dolby Laboratories to Issue Quarterly Dividend of $0.33 (NYSE:DLB)

Dolby Laboratories (NYSE:DLB) declared a quarterly dividend on Thursday, July 31st, RTT News reports. Investors of record on Tuesday, August 12th will be paid a dividend of 0.33 per share by the electronics maker on Wednesday, August 20th. This represents a c) annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Tuesday, August 12th.

Dolby Laboratories has a payout ratio of 31.4% meaning its dividend is sufficiently covered by earnings. Analysts expect Dolby Laboratories to earn $3.18 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 41.5%.

Dolby Laboratories Stock Down 6.8%

NYSE:DLB opened at $70.19 on Friday. The business’s 50-day simple moving average is $74.92 and its two-hundred day simple moving average is $77.59. Dolby Laboratories has a 52 week low of $66.35 and a 52 week high of $89.66. The stock has a market cap of $6.74 billion, a PE ratio of 25.71 and a beta of 0.91.

Dolby Laboratories (NYSE:DLB) last released its earnings results on Thursday, July 31st. The electronics maker reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.06. Dolby Laboratories had a return on equity of 11.62% and a net margin of 19.62%. The firm had revenue of $315.55 million during the quarter, compared to analysts’ expectations of $305.23 million. During the same quarter last year, the business posted $0.71 earnings per share. The firm’s revenue was up 9.2% on a year-over-year basis. Sell-side analysts anticipate that Dolby Laboratories will post 2.94 earnings per share for the current fiscal year.

About Dolby Laboratories

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.