Chemed (CHE) Declares $0.40 Dividend

Chemed said on August 4, 2023 that its board of directors declared a regular quarterly dividend of $0.40 per share ($1.60 annualized). Previously, the company paid $0.38 per share.

Shareholders of record as of August 14, 2023 will receive the payment on September 5, 2023.

At the current share price of $512.82 / share, the stock's dividend yield is 0.31%.

Looking back five years and taking a sample every week, the average dividend yield has been 0.31%, the lowest has been 0.24%, and the highest has been 0.45%. The standard deviation of yields is 0.04 (n=236).

The current dividend yield is 0.06 standard deviations above the historical average.

Additionally, the company's dividend payout ratio is 0.10. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company's 3-Year dividend growth rate is 0.12%, demonstrating that it has increased its dividend over time.

What is the Fund Sentiment?

There are 986 funds or institutions reporting positions in Chemed. This is an increase of 19 owner(s) or 2.07% in the last quarter. Average portfolio weight of all funds dedicated to CHE is 0.34%, an increase of 3.45%. Total shares owned by institutions decreased in the last three months by 2.62% to 16,718K shares. The put/call ratio of CHE is 0.55, indicating a bullish outlook.

Analyst Price Forecast Suggests 17.75% Upside

As of August 2, 2023, the average one-year price target for Chemed is 603.84. The forecasts range from a low of 581.76 to a high of $640.50. The average price target represents an increase of 17.75% from its latest reported closing price of 512.82.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Chemed is 2,234MM, an increase of 2.14%. The projected annual non-GAAP EPS is 20.41.

What are Other Shareholders Doing?

William Blair Investment Management holds 560K shares representing 3.73% ownership of the company. In it's prior filing, the firm reported owning 561K shares, representing a decrease of 0.10%. The firm decreased its portfolio allocation in CHE by 7.39% over the last quarter.

Neuberger Berman Group holds 533K shares representing 3.55% ownership of the company. In it's prior filing, the firm reported owning 539K shares, representing a decrease of 1.13%. The firm decreased its portfolio allocation in CHE by 49.68% over the last quarter.

Kayne Anderson Rudnick Investment Management holds 510K shares representing 3.40% ownership of the company. In it's prior filing, the firm reported owning 513K shares, representing a decrease of 0.57%. The firm decreased its portfolio allocation in CHE by 31.39% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 460K shares representing 3.06% ownership of the company. In it's prior filing, the firm reported owning 452K shares, representing an increase of 1.75%. The firm decreased its portfolio allocation in CHE by 0.98% over the last quarter.

IJH - iShares Core S&P Mid-Cap ETF holds 459K shares representing 3.06% ownership of the company. In it's prior filing, the firm reported owning 459K shares, representing a decrease of 0.10%. The firm increased its portfolio allocation in CHE by 0.73% over the last quarter.

Chemed Background Information
(This description is provided by the company.)

Listed on the New York Stock Exchange and headquartered in Cincinnati, Ohio, Chemed Corporation operates two wholly owned subsidiaries: VITAS Healthcare and Roto-Rooter. VITAS is the nation's largest provider of end-of-life hospice care and Roto-Rooter is the nation's leading provider of plumbing and drain cleaning services.

Additional reading:

• Chemed Reports Second-Quarter 2023 Results
• Exhibit I
• Chemed Reports First-Quarter 2023 Results
• Form of Stock Option Grant - 2022
• Subsidiaries of Chemed Corporation

This story originally appeared on Fintel.