Perrigo Company plc (PRGO) to Issue Dividend Increase – $0.19 Per Share

Perrigo Company plc (NYSE:PRGO) declared a quarterly dividend on Thursday, February 15th, RTT News reports. Investors of record on Friday, March 2nd will be paid a dividend of 0.19 per share on Tuesday, March 20th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date of this dividend is Thursday, March 1st. This is a positive change from Perrigo’s previous quarterly dividend of $0.16.

Perrigo has increased its dividend by an average of 15.1% per year over the last three years and has raised its dividend annually for the last 15 consecutive years. Perrigo has a payout ratio of 13.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Perrigo to earn $5.32 per share next year, which means the company should continue to be able to cover its $0.64 annual dividend with an expected future payout ratio of 12.0%.

Perrigo (PRGO) opened at $87.07 on Friday. The firm has a market cap of $12,267.22, a PE ratio of 17.78, a P/E/G ratio of 1.86 and a beta of 0.76. Perrigo has a fifty-two week low of $63.68 and a fifty-two week high of $95.93. The company has a quick ratio of 1.24, a current ratio of 1.72 and a debt-to-equity ratio of 0.54.

Several equities research analysts have recently weighed in on the company. Cantor Fitzgerald set a $107.00 price target on Perrigo and gave the company a “buy” rating in a research report on Friday, January 12th. Canaccord Genuity reiterated a “buy” rating and set a $100.00 price target on shares of Perrigo in a research report on Wednesday, January 17th. Berenberg Bank started coverage on shares of Perrigo in a research report on Thursday, February 1st. They issued a “buy” rating and a $117.00 price objective on the stock. Leerink Swann started coverage on shares of Perrigo in a research report on Tuesday, January 2nd. They issued a “market perform” rating and a $90.00 price objective on the stock. Finally, Wells Fargo & Co upped their price objective on shares of Perrigo to $90.00 and gave the stock a “market perform” rating in a research report on Friday, November 10th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $93.47.

In related news, EVP John Wesolowski purchased 700 shares of Perrigo stock in a transaction dated Thursday, December 14th. The stock was purchased at an average cost of $85.80 per share, for a total transaction of $60,060.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Todd W. Kingma sold 1,500 shares of the firm’s stock in a transaction on Thursday, December 28th. The shares were sold at an average price of $88.52, for a total value of $132,780.00. Following the transaction, the vice president now owns 19,565 shares of the company’s stock, valued at $1,731,893.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,838 shares of company stock valued at $336,784. 6.90% of the stock is owned by corporate insiders.

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Perrigo Company Profile

Perrigo Company plc is a global healthcare supplier that develops, manufactures and distributes over-the-counter (OTC) and generic prescription (Rx) pharmaceuticals, infant formulas, nutritional products, animal health, dietary supplements, active pharmaceutical ingredients (API), and medical diagnostic products, and Multiple Sclerosis drug Tysabri.

Dividend History for Perrigo (NYSE:PRGO)

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