Clorox Co (NYSE:CLX) Plans Dividend Increase – $1.06 Per Share
Clorox Co (NYSE:CLX) declared a quarterly dividend on Wednesday, May 22nd, Wall Street Journal reports. Shareholders of record on Wednesday, July 31st will be paid a dividend of 1.06 per share on Friday, August 16th. This represents a $4.24 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date is Tuesday, July 30th. This is a boost from Clorox’s previous quarterly dividend of $0.96.
Clorox has increased its dividend by an average of 7.2% annually over the last three years and has raised its dividend every year for the last 41 years. Clorox has a dividend payout ratio of 66.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Clorox to earn $6.48 per share next year, which means the company should continue to be able to cover its $4.24 annual dividend with an expected future payout ratio of 65.4%.
Shares of NYSE CLX opened at $166.33 on Monday. The stock’s fifty day moving average price is $156.89. The company has a market capitalization of $21.19 billion, a PE ratio of 26.57, a price-to-earnings-growth ratio of 4.87 and a beta of 0.38. Clorox has a twelve month low of $130.00 and a twelve month high of $167.70. The company has a current ratio of 1.10, a quick ratio of 0.66 and a debt-to-equity ratio of 2.93.
CLX has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. set a $60.00 price target on shares of Bayerische Motoren Werke and gave the stock a “sell” rating in a research report on Monday, April 8th. Argus cut shares of Clorox from a “buy” rating to a “hold” rating in a research report on Monday, May 20th. Zacks Investment Research raised shares of DLH from a “sell” rating to a “hold” rating in a research report on Tuesday, July 9th. BMO Capital Markets raised shares of TMAC Resources from a “market perform” rating to an “outperform” rating in a research report on Thursday, May 2nd. Finally, Bank of America set a $54.00 price target on shares of Fortis and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $154.67.
In related news, SVP Denise Garner sold 20,399 shares of the business’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $157.61, for a total value of $3,215,086.39. Following the sale, the senior vice president now directly owns 4,896 shares of the company’s stock, valued at approximately $771,658.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.40% of the company’s stock.
Clorox Company Profile
The Clorox Company manufactures and markets consumer and professional products worldwide. It operates through four segments: Cleaning, Household, Lifestyle, and International. The company offers laundry additives, including bleach products under the Clorox brand, as well as Clorox 2 stain fighter and color booster; home care products primarily under the Clorox, Formula 409, Liquid-Plumr, Pine-Sol, S.O.S, and Tilex brands; naturally derived products under the Green Works brand; and professional cleaning, disinfecting, and food service products under the Clorox, Dispatch, HealthLink, Clorox Healthcare, Hidden Valley, KC Masterpiece, and Soy Vay brands.
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