Dolby Laboratories, Inc. (NYSE:DLB) Plans $0.30 Quarterly Dividend

Dolby Laboratories, Inc. (NYSE:DLB) declared a quarterly dividend on Wednesday, August 7th, Wall Street Journal reports. Investors of record on Monday, August 19th will be given a dividend of 0.30 per share by the electronics maker on Tuesday, August 27th. This represents a $1.20 annualized dividend and a yield of 1.67%. The ex-dividend date of this dividend is Monday, August 19th.

Dolby Laboratories has raised its dividend by an average of 8.1% per year over the last three years. Dolby Laboratories has a payout ratio of 37.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Dolby Laboratories to earn $2.81 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 42.7%.

Dolby Laboratories Stock Down 0.0 %

Shares of DLB opened at $71.79 on Friday. Dolby Laboratories has a 52 week low of $66.35 and a 52 week high of $90.06. The stock has a market cap of $6.88 billion, a price-to-earnings ratio of 36.63 and a beta of 0.99. The business has a 50-day simple moving average of $77.41 and a two-hundred day simple moving average of $79.91.

Insiders Place Their Bets

In other Dolby Laboratories news, EVP Mark Andrew Sherman sold 2,283 shares of Dolby Laboratories stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $79.62, for a total value of $181,772.46. Following the sale, the executive vice president now directly owns 58,325 shares in the company, valued at approximately $4,643,836.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 39.54% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have commented on DLB. StockNews.com upgraded shares of Dolby Laboratories from a “hold” rating to a “buy” rating in a research note on Saturday, May 11th. Rosenblatt Securities restated a “buy” rating and set a $98.00 price objective on shares of Dolby Laboratories in a research report on Friday, June 7th. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $100.00 target price on shares of Dolby Laboratories in a report on Friday, August 9th.

About Dolby Laboratories

Dolby Laboratories, Inc creates audio and imaging technologies that transform entertainment at the cinema, DTV transmissions and devices, mobile devices, OTT video and music services, home entertainment devices, and automobiles. The company develops and licenses its audio technologies, such as AAC & HE-AAC, a digital audio codec solution used for a range of media applications; AVC, a digital video codec with high bandwidth efficiency used in various media devices; Dolby AC-4, a digital audio coding technology that delivers new audio experiences to a range of playback devices; and Dolby Atmos technology for cinema and various media devices.