Otis Worldwide Corporation Announces Quarterly Dividend of $0.42 (NYSE:OTIS)

Otis Worldwide Corporation (NYSE:OTIS) declared a quarterly dividend on Thursday, January 29th. Investors of record on Friday, February 13th will be given a dividend of 0.42 per share on Friday, March 13th. This represents a c) annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Friday, February 13th.

Otis Worldwide has a dividend payout ratio of 37.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Otis Worldwide to earn $4.42 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 38.0%.

Otis Worldwide Trading Down 1.2%

OTIS stock traded down $1.01 during midday trading on Friday, reaching $86.15. The stock had a trading volume of 520,480 shares, compared to its average volume of 3,145,671. Otis Worldwide has a 52-week low of $84.00 and a 52-week high of $106.83. The company’s fifty day simple moving average is $88.45 and its 200 day simple moving average is $89.43. The company has a market cap of $33.57 billion, a price-to-earnings ratio of 24.64, a price-to-earnings-growth ratio of 2.56 and a beta of 1.02.

Otis Worldwide (NYSE:OTIS) last issued its earnings results on Wednesday, January 28th. The company reported $1.03 EPS for the quarter, meeting analysts’ consensus estimates of $1.03. The business had revenue of $3.80 billion during the quarter, compared to analysts’ expectations of $3.88 billion. Otis Worldwide had a net margin of 9.59% and a negative return on equity of 30.42%. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.93 earnings per share. Sell-side analysts predict that Otis Worldwide will post 4.04 EPS for the current year.

About Otis Worldwide

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.