Dole said on May 17, 2023 that its board of directors declared a regular quarterly dividend of $0.08 per share ($0.32 annualized). Previously, the company paid $0.08 per share.
Shares must be purchased before the ex-div date of June 15, 2023 to qualify for the dividend. Shareholders of record as of June 16, 2023 will receive the payment on July 6, 2023.
At the current share price of $12.92 / share, the stock's dividend yield is 2.48%.
Looking back five years and taking a sample every week, the average dividend yield has been 2.86%, the lowest has been 1.99%, and the highest has been 4.23%. The standard deviation of yields is 0.61 (n=76).
The current dividend yield is 0.63 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.30. 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 8.17%, demonstrating that it has increased its dividend over time.
Learn to Harvest Dividends
Buy Stock. Capture Dividend. Sell Stock. Repeat. This is the essence of dividend harvesting and you can do it easily with Fintel's Dividend Capture Calendar.
What is the Fund Sentiment?
There are 112 funds or institutions reporting positions in Dole. This is an increase of 4 owner(s) or 3.70% in the last quarter. Average portfolio weight of all funds dedicated to DOLE is 0.96%, an increase of 212.37%. Total shares owned by institutions decreased in the last three months by 0.20% to 34,081K shares. 
The put/call ratio of DOLE is 0.04, indicating a bullish outlook.
Analyst Price Forecast Suggests 16.37% Upside
As of May 11, 2023, the average one-year price target for Dole is 15.03. The forecasts range from a low of 9.09 to a high of $17.85. The average price target represents an increase of 16.37% from its latest reported closing price of 12.92.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Dole is 9,578MM, an increase of 3.57%. The projected annual non-GAAP EPS is 1.22.
What are Other Shareholders Doing?
Pale Fire Capital SE holds 7,436K shares representing 7.84% ownership of the company. In it's prior filing, the firm reported owning 7,363K shares, representing an increase of 0.98%. The firm increased its portfolio allocation in DOLE by 112,510.15% over the last quarter.
Rubric Capital Management holds 4,743K shares representing 5.00% ownership of the company. In it's prior filing, the firm reported owning 4,500K shares, representing an increase of 5.13%. The firm decreased its portfolio allocation in DOLE by 23.74% over the last quarter.
Impax Asset Management Group holds 4,377K shares representing 4.61% ownership of the company. No change in the last quarter.
Redwood Capital Management holds 2,542K shares representing 2.68% ownership of the company. In it's prior filing, the firm reported owning 2,558K shares, representing a decrease of 0.62%. The firm increased its portfolio allocation in DOLE by 47.82% over the last quarter.
Harber Asset Management holds 1,655K shares representing 1.74% ownership of the company. In it's prior filing, the firm reported owning 1,516K shares, representing an increase of 8.39%. The firm increased its portfolio allocation in DOLE by 29.39% over the last quarter.
Dole Background Information
(This description is provided by the company.)
Dole plc produces and distributes food products. The Company offers fresh fruit, vegetables, and food products such as bananas, pineapples, berries, avocados, and other organic produce. Dole serves customers worldwide.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
