Dollar General said on March 16, 2023 that its board of directors declared a regular quarterly dividend of $0.59 per share ($2.36 annualized). Previously, the company paid $0.55 per share.
Shares must be purchased before the ex-div date of April 10, 2023 to qualify for the dividend. Shareholders of record as of April 11, 2023 will receive the payment on April 25, 2023.
At the current share price of $212.09 / share, the stock's dividend yield is 1.11%. Looking back five years and taking a sample every week, the average dividend yield has been 0.89%, the lowest has been 0.65%, and the highest has been 1.27%. The standard deviation of yields is 0.15 (n=237).
The current dividend yield is 1.46 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.22. 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 0.53%, demonstrating that it has increased its dividend over time.
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Analyst Price Forecast Suggests 18.49% Upside
As of March 16, 2023, the average one-year price target for Dollar General is $251.31. The forecasts range from a low of $191.90 to a high of $299.25. The average price target represents an increase of 18.49% from its latest reported closing price of $212.09.
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The projected annual revenue for Dollar General is $39,096MM, an increase of 3.31%. The projected annual non-GAAP EPS is $11.32.
What is the Fund Sentiment?
There are 2167 funds or institutions reporting positions in Dollar General. This is a decrease of 9 owner(s) or 0.41% in the last quarter. Average portfolio weight of all funds dedicated to DG is 0.48%, a decrease of 5.68%. Total shares owned by institutions decreased in the last three months by 0.40% to 238,688K shares. The put/call ratio of DG is 0.78, indicating a bullish outlook.
What are Large Shareholders Doing?
Price T Rowe Associates holds 13,742K shares representing 6.15% ownership of the company. In it's prior filing, the firm reported owning 13,549K shares, representing an increase of 1.40%. The firm increased its portfolio allocation in DG by 1.73% over the last quarter.
Capital International Investors holds 9,347K shares representing 4.18% ownership of the company. In it's prior filing, the firm reported owning 9,095K shares, representing an increase of 2.69%. The firm decreased its portfolio allocation in DG by 2.90% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 6,856K shares representing 3.07% ownership of the company. In it's prior filing, the firm reported owning 6,727K shares, representing an increase of 1.88%. The firm decreased its portfolio allocation in DG by 3.37% over the last quarter.
Capital World Investors holds 6,626K shares representing 2.96% ownership of the company. In it's prior filing, the firm reported owning 9,980K shares, representing a decrease of 50.62%. The firm decreased its portfolio allocation in DG by 35.28% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 5,215K shares representing 2.33% ownership of the company. In it's prior filing, the firm reported owning 5,146K shares, representing an increase of 1.32%. The firm decreased its portfolio allocation in DG by 4.15% over the last quarter.
Dollar General Background Information
(This description is provided by the company.)
Dollar General Corporation has been delivering value to shoppers for more than 80 years. Dollar General helps shoppers Save time. Save money. Every day.® by offering products that are frequently used and replenished, such as food, snacks, health and beauty aids, cleaning supplies, basic apparel, housewares and seasonal items at everyday low prices in convenient neighborhood locations. Dollar General operated 16,979 stores in 46 states as of October 30, 2020. In addition to high-quality private brands, Dollar General sells products from America's most-trusted manufacturers such as Clorox, Energizer, Procter & Gamble, Hanes, Coca-Cola, Mars, Unilever, Nestle, Kimberly-Clark, Kellogg's, General Mills, and PepsiCo.
This story originally appeared on Fintel.
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