Otis Worldwide Corporation (NYSE:OTIS) Increases Dividend to $0.44 Per Share

Otis Worldwide Corporation (NYSE:OTIS) announced a quarterly dividend on Tuesday, April 21st. Investors of record on Friday, May 15th will be paid a dividend of 0.44 per share on Friday, June 12th. This represents a c) dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Friday, May 15th. This is a 4.8% increase from Otis Worldwide’s previous quarterly dividend of $0.42.

Otis Worldwide has raised its dividend by an average of 0.2%annually over the last three years and has increased its dividend every year for the last 5 years. Otis Worldwide has a payout ratio of 37.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Otis Worldwide to earn $4.75 per share next year, which means the company should continue to be able to cover its $1.68 annual dividend with an expected future payout ratio of 35.4%.

Otis Worldwide Price Performance

Shares of OTIS opened at $78.90 on Wednesday. Otis Worldwide has a 1-year low of $75.27 and a 1-year high of $101.42. The company has a 50-day moving average of $84.21 and a 200 day moving average of $87.49. The firm has a market capitalization of $30.67 billion, a price-to-earnings ratio of 22.54, a PEG ratio of 2.47 and a beta of 1.05.

Otis Worldwide (NYSE:OTIS) last announced its quarterly earnings data on Wednesday, April 22nd. The company reported $0.89 earnings per share for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.19). Otis Worldwide had a net margin of 9.59% and a negative return on equity of 30.42%. The company had revenue of $3.57 billion for the quarter, compared to the consensus estimate of $3.77 billion. Otis Worldwide has set its FY 2026 guidance at 4.200-4.240 EPS. On average, equities analysts anticipate that Otis Worldwide will post 4.23 earnings per share for the current fiscal year.

Otis Worldwide Company Profile

Otis Worldwide Corporation is a manufacturer, installer and servicer of vertical transportation systems, including elevators, escalators and moving walkways. The company designs and supplies new equipment for commercial, residential and industrial buildings, and provides ongoing maintenance and repair services aimed at maximizing equipment availability and safety. Otis also offers modernization solutions to upgrade aging systems and improve performance, accessibility and energy efficiency.

In addition to new equipment sales, a significant portion of Otis’s business derives from long-term service contracts and responsive maintenance work.