H&R Block (HRB) Declares $0.32 Dividend
H&R Block said on August 15, 2023 that its board of directors declared a regular quarterly dividend of $0.32 per share ($1.28 annualized). Previously, the company paid $0.29 per share.
Shares must be purchased before the ex-div date of September 6, 2023 to qualify for the dividend. Shareholders of record as of September 7, 2023 will receive the payment on October 4, 2023.
At the current share price of $39.40 / share, the stock's dividend yield is 3.25%.
Looking back five years and taking a sample every week, the average dividend yield has been 4.41%, the lowest has been 2.49%, and the highest has been 8.40%. The standard deviation of yields is 1.24 (n=236).
The current dividend yield is 0.94 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.35. 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 0.23%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 942 funds or institutions reporting positions in H&R Block. This is a decrease of 42 owner(s) or 4.27% in the last quarter. Average portfolio weight of all funds dedicated to HRB is 0.19%, a decrease of 11.74%. Total shares owned by institutions decreased in the last three months by 2.89% to 151,016K shares. 
The put/call ratio of HRB is 1.43, indicating a bearish outlook.
Analyst Price Forecast Suggests 5.08% Downside
As of August 2, 2023, the average one-year price target for H&R Block is 37.40. The forecasts range from a low of 28.28 to a high of $44.10. The average price target represents a decrease of 5.08% from its latest reported closing price of 39.40.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for H&R Block is 3,669MM, an increase of 5.67%. The projected annual non-GAAP EPS is 4.17.
What are Other Shareholders Doing?
Lazard Asset Management holds 6,622K shares representing 4.35% ownership of the company. In it's prior filing, the firm reported owning 5,110K shares, representing an increase of 22.84%. The firm increased its portfolio allocation in HRB by 10.05% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 4,704K shares representing 3.09% ownership of the company. In it's prior filing, the firm reported owning 4,723K shares, representing a decrease of 0.41%. The firm decreased its portfolio allocation in HRB by 11.21% over the last quarter.
IJH - iShares Core S&P Mid-Cap ETF holds 4,698K shares representing 3.08% ownership of the company. In it's prior filing, the firm reported owning 4,801K shares, representing a decrease of 2.20%. The firm decreased its portfolio allocation in HRB by 9.58% over the last quarter.
NAESX - Vanguard Small-Cap Index Fund Investor Shares holds 3,985K shares representing 2.62% ownership of the company. In it's prior filing, the firm reported owning 4,005K shares, representing a decrease of 0.50%. The firm decreased its portfolio allocation in HRB by 7.80% over the last quarter.
DVY - iShares Select Dividend ETF holds 3,900K shares representing 2.56% ownership of the company. In it's prior filing, the firm reported owning 4,494K shares, representing a decrease of 15.23%. The firm decreased its portfolio allocation in HRB by 16.46% over the last quarter.
H&R Block Background Information
(This description is provided by the company.)
H&R Block, Inc. provides help and inspires confidence in its clients and communities everywhere through global tax preparation, financial products, and small business solutions. The company blends digital innovation with the human expertise and care of its associates and franchisees as it helps people get the best outcome at tax time, and better manage and access their money year-round. Through Block Advisors and Wave, the company helps small business owners thrive with innovative products like Wave Money, a small business banking and bookkeeping solution, and the only business bank account to manage bookkeeping automatically.
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This story originally appeared on Fintel.