Cardinal Health Increases Quarterly Dividend
Columbus, Ohio, May 7, 2024 - Cardinal Health (NYSE: CAH) announced today that its Board of Directors approved an increase to its quarterly dividend to $0.5056 per share.
The dividend increase represents a 1% increase from the previous quarterly dividend of $0.50. The dividend is payable on July 15, 2024, to shareholders of record as of June 15, 2024.
This is the second dividend increase by Cardinal Health in the past year. In June 2023, the company increased its quarterly dividend by 2%. Cardinal Health has a history of consistently paying and increasing its dividend, and the company has paid dividends for over 50 consecutive years.
The dividend increase is a sign of Cardinal Health's financial strength and its commitment to returning cash to shareholders. The company has generated strong cash flow from operations in recent years, and it has used this cash flow to reduce debt, invest in its business, and return cash to shareholders through dividends and share repurchases.
Cardinal Health's dividend yield is currently 1.5%, which is in line with the average yield for companies in the healthcare sector. The company's dividend payout ratio is also in line with the industry average, which indicates that the company is committed to maintaining a sustainable dividend policy.
Conclusion
Cardinal Health's dividend increase is a positive sign for investors. The company is generating strong cash flow, and it is committed to returning cash to shareholders through dividends and share repurchases. The dividend yield is in line with the industry average, and the payout ratio is sustainable, which indicates that the company is committed to maintaining a sustainable dividend policy.
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