McKesson Corporation (NYSE:MCK) declared a quarterly dividend on Wednesday, July 26th, RTT News reports. Shareholders of record on Friday, September 1st will be paid a dividend of 0.34 per share on Monday, October 2nd. This represents a $1.36 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date is Wednesday, August 30th. This is a boost from McKesson Corporation’s previous quarterly dividend of $0.28.

McKesson Corporation has increased its dividend payment by an average of 10.1% per year over the last three years and has increased its dividend annually for the last 4 consecutive years. McKesson Corporation has a dividend payout ratio of 11.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect McKesson Corporation to earn $12.90 per share next year, which means the company should continue to be able to cover its $1.36 annual dividend with an expected future payout ratio of 10.5%.

McKesson Corporation (NYSE MCK) opened at 148.33 on Tuesday. McKesson Corporation has a one year low of $114.53 and a one year high of $186.28. The firm has a 50-day moving average price of $157.94 and a 200-day moving average price of $152.42. The stock has a market cap of $31.19 billion, a price-to-earnings ratio of 6.73 and a beta of 1.13.

McKesson Corporation (NYSE:MCK) last posted its earnings results on Thursday, July 27th. The company reported $2.46 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.81 by $0.35. McKesson Corporation had a net margin of 2.42% and a return on equity of 25.76%. The company had revenue of $51.05 billion for the quarter, compared to the consensus estimate of $51.22 billion. During the same quarter last year, the business earned $3.50 earnings per share. McKesson Corporation’s quarterly revenue was up 2.7% on a year-over-year basis. On average, equities analysts predict that McKesson Corporation will post $12.08 earnings per share for the current year.

MCK has been the topic of several recent research reports. TheStreet upgraded McKesson Corporation from a “c+” rating to a “b” rating in a report on Thursday, May 25th. Vetr lowered McKesson Corporation from a “strong-buy” rating to a “buy” rating and set a $157.86 target price on the stock. in a report on Wednesday, May 10th. Barclays PLC set a $187.00 target price on McKesson Corporation and gave the company a “buy” rating in a report on Sunday, June 4th. Zacks Investment Research upgraded McKesson Corporation from a “hold” rating to a “buy” rating and set a $184.00 target price on the stock in a report on Wednesday, July 12th. Finally, Jefferies Group LLC upgraded McKesson Corporation from a “hold” rating to a “buy” rating and set a $153.00 target price on the stock in a report on Thursday, July 27th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $171.21.

ILLEGAL ACTIVITY NOTICE: This report was first posted by The Cerbat Gem and is the property of of The Cerbat Gem. If you are reading this report on another domain, it was stolen and republished in violation of international copyright law. The original version of this report can be read at https://www.thecerbatgem.com/2017/08/29/mckesson-corporation-mck-to-issue-quarterly-dividend-of-0-34-on-october-2nd.html.

In related news, SVP Erin M. Lampert sold 809 shares of the business’s stock in a transaction dated Wednesday, May 31st. The stock was sold at an average price of $160.66, for a total transaction of $129,973.94. Following the transaction, the senior vice president now directly owns 59 shares in the company, valued at $9,478.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman John H. Hammergren sold 38,619 shares of the business’s stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $163.76, for a total value of $6,324,247.44. Following the transaction, the chairman now owns 19,309 shares in the company, valued at $3,162,041.84. The disclosure for this sale can be found here. Insiders have sold 41,594 shares of company stock worth $6,787,764 over the last 90 days. Corporate insiders own 1.20% of the company’s stock.

About McKesson Corporation

McKesson Corporation (McKesson) is engaged in delivering pharmaceuticals, medical supplies and healthcare information technology. The Company operates through two segments: McKesson Distribution Solutions and Technology Solutions. The McKesson Distribution Solutions segment distributes drugs and equipment, and health and beauty care products across North America and internationally.

Dividend History for McKesson Corporation (NYSE:MCK)

Receive News & Stock Ratings for McKesson Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for McKesson Corporation and related stocks with our FREE daily email newsletter.