Dole PLC (NYSE:DOLE) Declares $0.09 Quarterly Dividend

Dole PLC (NYSE:DOLE) declared a quarterly dividend on Friday, August 7th. Shareholders of record on Wednesday, September 16th will be given a dividend of 0.085 per share on Wednesday, October 7th. This represents a c) annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Wednesday, September 16th.

Dole has a dividend payout ratio of 22.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Dole to earn $1.45 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 23.4%.

Dole Trading Up 0.3%

Shares of NYSE:DOLE opened at $13.38 on Monday. The company has a 50 day moving average of $13.82 and a 200-day moving average of $14.33. The firm has a market cap of $1.26 billion, a P/E ratio of 21.57, a P/E/G ratio of 1.40 and a beta of 0.61. Dole has a twelve month low of $12.52 and a twelve month high of $16.57. The company has a current ratio of 1.28, a quick ratio of 0.98 and a debt-to-equity ratio of 0.68.

Dole (NYSE:DOLE) last announced its earnings results on Monday, August 10th. The company reported $0.46 EPS for the quarter, hitting the consensus estimate of $0.46. The firm had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.53 billion. Dole had a return on equity of 7.06% and a net margin of 0.63%.The firm’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.55 earnings per share. As a group, analysts anticipate that Dole will post 1.4 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Zacks Research raised Dole from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. Deutsche Bank Aktiengesellschaft set a $14.00 price target on shares of Dole in a report on Tuesday, August 11th. Finally, Weiss Ratings upgraded shares of Dole from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, August 11th. Three research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $14.00.

About Dole

Dole plc (NYSE: DOLE) is a global producer, marketer and distributor of fresh fruits and vegetables. The company’s portfolio includes bananas, pineapples, grapes, berries, avocados, melons, salads, packaged vegetables and other fresh produce. It supplies retail, foodservice and wholesale customers through sourcing, farming, processing, distribution and marketing operations.

The company serves customers across North America, Europe, Latin America, Asia and other international markets. Its vertically integrated operations include agricultural production, procurement from independent growers, fresh-cut processing, cold storage, transportation and distribution.