🚀 June’s AI-picked stocks soar, with Adobe +18.1% in 11 days. Don’t miss July’s upcoming picks.Unlock full list

Quest Diagnostics sets quarterly dividend at $0.75 per share

EditorNatashya Angelica
Published 05/15/2024, 06:03 PM

SECAUCUS, N.J. - Quest Diagnostics (NYSE: NYSE:DGX), a provider of diagnostic information services, announced today that its Board of Directors has approved a quarterly cash dividend of $0.75 per share. The dividend is scheduled to be paid on July 22, 2024, to shareholders who are on record as of July 8, 2024.

The company, which serves approximately a third of adult Americans and half of the nation's physicians and hospitals, is known for its role in delivering diagnostic insights to aid in healthcare management.

Quest Diagnostics leverages a vast database of clinical lab results to help in the identification and treatment of diseases, promote healthy behaviors, and enhance healthcare management. With nearly 50,000 employees, Quest emphasizes the importance of using diagnostic information to inspire actions that can lead to improved health outcomes and a healthier world.

The declaration of this dividend reflects the company's commitment to providing value to its shareholders. Dividends are a way for companies to distribute a portion of their earnings back to shareholders, and Quest's consistent dividend payments highlight its financial stability and confidence in its business model.

This financial event is based on a press release statement and is intended to inform shareholders and the market of the upcoming dividend payment. Quest Diagnostics has a history of paying dividends and the announcement of this latest dividend is consistent with its practice of returning value to its shareholders.

Investors holding shares of Quest Diagnostics can expect to receive the declared dividend in late July, provided they are recorded as shareholders by the early July cutoff. The dividend payment is part of the company's strategy to maintain a steady flow of income to its investors.

NYSE: DGX closed the previous trading session with its stock price at a point that will be updated in accordance with the market's opening on the day following this announcement. Shareholders and potential investors are advised to monitor the stock's performance and consider the dividend declaration as they make investment decisions regarding Quest Diagnostics.

InvestingPro Insights

Quest Diagnostics (NYSE: DGX) continues to demonstrate its commitment to shareholders with its recent dividend announcement. The company's approach to shareholder returns is underscored by its history of dividend growth and share repurchases.

Notably, Quest Diagnostics has raised its dividend for 12 consecutive years, showcasing a reliable pattern of rewarding its investors. This aligns with the company's financial stability and its strategy to maintain a steady flow of income to its shareholders.

InvestingPro data reveals that Quest Diagnostics has a market capitalization of $15.64 billion, with a P/E ratio of 18.67, indicating the value that investors currently place on the company's earnings. Moreover, the company's P/E ratio based on the last twelve months as of Q1 2024 is 17.51, reflecting a slight adjustment from the current P/E ratio.

The dividend yield as of the latest data stands at 2.13%, which is an attractive figure for income-focused investors, especially considering the company's history of consistent dividend payments over the past 21 years.

An InvestingPro Tip worth noting is that management has been aggressively buying back shares, which can often signal confidence in the company's future prospects and a commitment to enhancing shareholder value. Moreover, Quest Diagnostics is trading near its 52-week high, with the price at 96.7% of this peak, suggesting a strong market sentiment towards the stock.

For investors seeking further insights and analysis, there are additional InvestingPro Tips available at InvestingPro. Use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription. With these tools, shareholders and potential investors can make more informed decisions regarding their investments in Quest Diagnostics.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.