Chemed Co. (NYSE:CHE) Announces $0.50 Quarterly Dividend

Chemed Co. (NYSE:CHEGet Free Report) declared a quarterly dividend on Friday, November 8th,Wall Street Journal reports. Investors of record on Monday, November 18th will be paid a dividend of 0.50 per share on Friday, December 6th. This represents a $2.00 annualized dividend and a dividend yield of 0.36%. The ex-dividend date is Monday, November 18th.

Chemed has raised its dividend payment by an average of 5.7% per year over the last three years and has increased its dividend annually for the last 16 consecutive years. Chemed has a payout ratio of 8.0% meaning its dividend is sufficiently covered by earnings. Analysts expect Chemed to earn $23.30 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 8.6%.

Chemed Trading Down 0.6 %

Shares of CHE stock opened at $558.64 on Friday. The company has a market capitalization of $8.41 billion, a PE ratio of 28.23, a price-to-earnings-growth ratio of 2.40 and a beta of 0.46. Chemed has a twelve month low of $523.33 and a twelve month high of $654.62. The firm has a fifty day simple moving average of $580.37 and a 200-day simple moving average of $565.40.

Chemed (NYSE:CHEGet Free Report) last released its quarterly earnings results on Tuesday, October 29th. The company reported $5.64 EPS for the quarter, missing analysts’ consensus estimates of $5.76 by ($0.12). Chemed had a return on equity of 27.86% and a net margin of 12.69%. The company had revenue of $606.18 million for the quarter, compared to the consensus estimate of $612.22 million. During the same quarter last year, the firm posted $5.32 earnings per share. The firm’s quarterly revenue was up 7.4% compared to the same quarter last year. Equities research analysts predict that Chemed will post 21.43 EPS for the current year.

Insider Transactions at Chemed

In other news, Director George J. Walsh III sold 400 shares of the stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $597.47, for a total value of $238,988.00. Following the sale, the director now directly owns 3,046 shares of the company’s stock, valued at approximately $1,819,893.62. This represents a 11.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Kevin J. Mcnamara sold 2,000 shares of the firm’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $598.81, for a total value of $1,197,620.00. Following the completion of the transaction, the chief executive officer now directly owns 103,735 shares in the company, valued at $62,117,555.35. The trade was a 1.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,313 shares of company stock valued at $2,527,495. 3.32% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada dropped their target price on shares of Chemed from $697.00 to $633.00 and set an “outperform” rating for the company in a research report on Tuesday, November 5th.

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Chemed Company Profile

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Chemed Corporation provides hospice and palliative care services to patients through a network of physicians, registered nurses, home health aides, social workers, clergy, and volunteers primarily in the United States. The company operates in VITAS and Roto-Rooter segments. It offers plumbing, drain cleaning, excavation, water restoration, and other related services to residential and commercial customers through company-owned branches, independent contractors, and franchisees.

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Dividend History for Chemed (NYSE:CHE)

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