Ex-Dividend Alert: Sysco Has Increased its Dividend For 47 Consecutive Years; Will Trade Ex-Dividend on July 05, 2018

LONDON, UK / ACCESSWIRE / July 5, 2018 / Active-Investors has a free review on Sysco Corp. (NYSE: SYY) following the Company’s announcement that it will begin trading ex-dividend on July 05, 2018. To capture the dividend payout, investors must purchase the stock a day prior to the ex-dividend date (excluding holidays) that is by latest at the end of the trading session on July 03, 2018. Active-Investors has initiated due-diligence on this dividend stock. Register with us for more free research including the one on SYY:

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Dividend Declared

On May 24, 2018, Sysco announced that the Board of Directors declared a regular quarterly cash dividend of $0.36 per share, payable on July 27, 2018, to common shareholders of record at the close of business on July 06, 2018.

Sysco’s indicated dividend represents a yield of 2.11%, which is substantially higher than the average dividend yield of 1.93% for the Services sector. The Company has raised its dividend for forty-seven years in a row.

Dividend Insights

Sysco has a dividend payout ratio of 48.2%, which denotes that the Company spends approximately $0.48 for dividend distribution out of 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, Sysco is forecasted to report earnings of $3.49 per share for the next year, which is more than double compared to the Company’s annualized dividend payout of $1.44 per share.

Sysco’s cash flow from operations was $1.1 billion for the first 39 weeks of fiscal 2018 ended on March 31, 2018, which was $42 million higher compared to the same period last year. Free cash flow for the first 39 weeks of fiscal 2018 was $768 million, which was $81 million higher compared to the same period last year. The significant improvements in both cash flow from operations and free cash flow are largely driven by reduced cash taxes that were paid and increased earnings. As of March 31, 2018, Sysco’s cash and cash equivalents totaled $901.6 million compared to $855.1 million as on April 01, 2017. The Company’s strong financial position indicates its ability to absorb any fluctuations in earnings and cash flow and to sustain the dividend distribution for a long period.

Recent Development for Sysco

On June 06, 2018, Sysco announced that the Company has signed a ten-year renewable energy agreement with a subsidiary of NRG Energy, Inc. As part of the agreement, three solar garden sites are being constructed in the Houston and Dallas areas, which will support approximately 10 percent of Sysco’s US electricity usage.

The environmental benefits of this program include reducing approximately 37,000 tons of CO2 emissions a year, which equates to taking more than 7,000 cars off the road. The solar garden sites total 25 megawatts of renewable energy generation and will support the majority of the Company’s electricity load in Texas, including the Corporate Headquarters. The solar garden sites are expected to be operational by Q1 2019.

About Sysco Corp.

Sysco is the global leader in selling, marketing, and distributing food products to restaurants, healthcare and educational facilities, lodging establishments, and other customers who prepare meals away from home. With over 65,000 associates, the Company operates approximately 300 distribution facilities worldwide and serves more than 500,000 customer locations.

Stock Performance Snapshot

July 02, 2018 – At Monday’s closing bell, Sysco’s stock marginally advanced 0.85%, ending the trading session at $68.54.

Volume traded for the day: 851.83 thousand shares.

Stock performance in the last month – up 4.26%; previous three-month period – up 11.98%; past twelve-month period – up 35.62%; and year-to-date – up 12.86%

After last Monday’s close, Sysco’s market cap was at $35.77 billion.

Price to Earnings (P/E) ratio was at 27.55.

The stock has a dividend yield of 2.10%.

The stock is part of the Services sector, categorized under the Food Wholesale industry.

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