Smith & Nephew plc (NYSE:SNN) to Issue Dividend Increase – $0.29 Per Share

Smith & Nephew plc (NYSE:SNN) declared a semi-annual dividend on Monday, July 1st, NASDAQ reports. Investors of record on Friday, October 4th will be given a dividend of 0.288 per share by the medical equipment provider on Friday, November 8th. This represents a dividend yield of 2.4%. The ex-dividend date is Friday, October 4th. This is an increase from Smith & Nephew’s previous semi-annual dividend of $0.24.

Smith & Nephew has a dividend payout ratio of 28.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Smith & Nephew to earn $2.07 per share next year, which means the company should continue to be able to cover its $0.58 annual dividend with an expected future payout ratio of 28.0%.

Smith & Nephew Price Performance

NYSE:SNN opened at $30.81 on Wednesday. The company has a current ratio of 2.51, a quick ratio of 1.11 and a debt-to-equity ratio of 0.63. Smith & Nephew has a 52-week low of $21.52 and a 52-week high of $31.72. The stock has a 50-day simple moving average of $30.46 and a 200 day simple moving average of $27.25.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on SNN shares. Deutsche Bank Aktiengesellschaft began coverage on Smith & Nephew in a report on Wednesday, July 24th. They set a “buy” rating for the company. UBS Group upgraded Smith & Nephew from a “neutral” rating to a “buy” rating in a research note on Wednesday, June 5th. Finally, StockNews.com upgraded Smith & Nephew from a “buy” rating to a “strong-buy” rating in a research note on Monday, August 5th. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy”.

About Smith & Nephew

Smith & Nephew plc, together with its subsidiaries, develops, manufactures, markets, and sells medical devices and services in the United Kingdom and internationally. It operates through three segments: Orthopaedics, Sports Medicine & ENT, and Advanced Wound Management. The company offers knee implant products for knee replacement procedures; hip implants for revision procedures; trauma and extremities products that include internal and external devices used in the stabilization of severe fractures and deformity correction procedures; and other reconstruction products.