Dividend Coverage: This Medical Laboratory Operator has a Dividend Yield of 1.91%; Will Trade Ex-Dividend on October 02, 2017

LONDON, UK / ACCESSWIRE / September 29, 2017 / Pro-Trader Daily takes a closer look at Quest Diagnostics Inc. (NYSE: DGX) as the Company’s stock will begin trading ex-dividend on October 02, 2017. To capture the dividend payout, investors must purchase the stock a day prior (excluding weekend) to the ex-dividend date that is by latest at the end of the trading session on September 29, 2017. Are you looking for research on dividend stocks, if so register with us now for your free membership at:

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Dividend Declared

On August 18, 2017, Quest Diagnostics announced that its Board of Directors declared a quarterly cash dividend of $0.45 per share, payable on October 18, 2017, to shareholders of record of Quest Diagnostics common stock on October 03, 2017.

Quest Diagnostics’ indicated dividend represents a yield of 1.91%, which is substantially above the average dividend yield of 0.65% for the Healthcare sector. The Company has raised its dividend for five consecutive years.

Dividend Insights

Quest Diagnostics has a dividend payout ratio of 31.6%, which indicates that it distributes approximately $0.32 for every $1.00 earned. The dividend payout ratio reflects how much amount a company is returning to shareholders versus how much money it is keeping on hand to reinvest in growth, to pay off debt, and/or to add to its cash reserves.

According to analysts’ estimates, Quest Diagnostics is forecasted to report earnings of $5.96 per share in the coming year, which is more than three times the Company’s annualized dividend of $1.80.

At June 30, 2017, Quest Diagnostics’ cash and cash equivalents totaled $314 million versus cash worth $59 million at December 31, 2016. The Company’s net cash provided by operating activities totaled $294 million for the three months ended June 30, 2017, compared to operating cash flows of $311 million for the three months ended June 30, 2016. The Company’s strong financial position indicates its ability to absorb any fluctuations in earnings and cash flow and to sustain its dividend distribution for a long period.

Recent Development for Quest Diagnostics

On September 13, 2017, Quest Diagnostics announced that it was named for the thirteenth consecutive year in the North America Dow Jones Sustainability Index (DJSI) and for a fourteenth year in the World DJSI.

Quest Diagnostics was one of only nine Health Care Equipment and Services companies listed on the Dow Jones Sustainability North America Index and one of only twelve companies listed on the Dow Jones Sustainability World Index in the same category. Over last year, the Company improved its percentile ranking in the areas of Risk & Crisis Management and Human Capital Development.

Launched in 1999, the DJSI World represents the gold standard for corporate sustainability and is the first global index to track the leading sustainability-driven companies based on RobecoSAM’s analysis of financially material Environmental, Social, and Governance (ESG) factors, and S&P DJI’s robust index methodology.

About Quest Diagnostics Inc.

Quest Diagnostics provides diagnostic testing information and services in the United States and internationally. The Company annually serves one in three adult Americans and half the physicians and hospitals in the United States. Quest Diagnostics was founded in 1967 and is headquartered in Madison, New Jersey.

Stock Performance

At the closing bell, on Thursday, September 28, 2017, Quest Diagnostics’ stock slipped 1.21%, ending the trading session at $91.96. A total volume of 2.30 million shares have exchanged hands, which was higher than the 3-month average volume of 941.81 thousand shares. The Company’s stock price advanced 8.26% in the previous twelve months. Moreover, the stock gained 0.07% since the start of the year. The stock is trading at a PE ratio of 18.38 and has a dividend yield of 1.96%. The stock currently has a market cap of $12.60 billion.

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