Dolby Laboratories, Inc. (NYSE:DLB) Announces Quarterly Dividend of $0.33

Dolby Laboratories, Inc. (NYSE:DLB) declared a quarterly dividend on Friday, May 2nd, Wall Street Journal reports. Stockholders of record on Tuesday, May 13th will be given a dividend of 0.33 per share by the electronics maker on Wednesday, May 21st. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.75%. The ex-dividend date of this dividend is Tuesday, May 13th.

Dolby Laboratories has increased its dividend by an average of 10.6% annually over the last three years and has increased its dividend every year for the last 10 years. Dolby Laboratories has a dividend payout ratio of 30.7% indicating that its dividend is sufficiently covered by earnings. Equities research 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 Trading Up 0.4 %

Dolby Laboratories stock opened at $75.29 on Friday. Dolby Laboratories has a 12-month low of $66.35 and a 12-month high of $89.66. The firm has a market capitalization of $7.19 billion, a price-to-earnings ratio of 27.68 and a beta of 0.95. The firm has a 50 day moving average of $77.07 and a 200 day moving average of $78.37.

Dolby Laboratories (NYSE:DLB) last announced its quarterly earnings data on Thursday, May 1st. The electronics maker reported $1.34 EPS for the quarter, beating the consensus estimate of $1.29 by $0.05. The firm had revenue of $369.56 million for the quarter, compared to the consensus estimate of $375.44 million. Dolby Laboratories had a net margin of 19.97% and a return on equity of 11.32%. The company’s revenue was up 1.4% on a year-over-year basis. During the same period last year, the firm earned $1.27 EPS. On average, analysts predict that Dolby Laboratories will post 2.94 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on DLB shares. Barrington Research reissued an “outperform” rating and issued a $100.00 target price on shares of Dolby Laboratories in a report on Friday, May 2nd. StockNews.com cut Dolby Laboratories from a “strong-buy” rating to a “buy” rating in a report on Friday, January 31st. Finally, Rosenblatt Securities lowered their price target on Dolby Laboratories from $100.00 to $95.00 and set a “buy” rating for the company in a report on Friday, May 2nd.

Insider Buying and Selling at Dolby Laboratories

In related news, CMO Todd Pendleton sold 18,121 shares of Dolby Laboratories stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $83.75, for a total value of $1,517,633.75. Following the sale, the chief marketing officer now owns 37,290 shares of the company’s stock, valued at approximately $3,123,037.50. This trade represents a 32.70 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP John D. Couling sold 675 shares of Dolby Laboratories stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $75.04, for a total transaction of $50,652.00. Following the completion of the sale, the senior vice president now owns 121,151 shares in the company, valued at approximately $9,091,171.04. This trade represents a 0.55 % decrease in their position. The disclosure for this sale can be found here. 38.39% of the stock is currently owned by corporate insiders.

Dolby Laboratories Company Profile

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.