Dolby Laboratories, Inc. (NYSE:DLB) to Issue Quarterly Dividend of $0.33

Dolby Laboratories, Inc. (NYSE:DLB) announced a quarterly dividend on Wednesday, January 29th,Wall Street Journal reports. Investors of record on Tuesday, February 11th will be given a dividend of 0.33 per share by the electronics maker on Wednesday, February 19th. This represents a $1.32 annualized dividend and a yield of 1.51%. The ex-dividend date is Tuesday, February 11th.

Dolby Laboratories has increased its dividend by an average of 10.6% per year over the last three years. Dolby Laboratories has a dividend payout ratio of 30.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Dolby Laboratories to earn $3.13 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 42.2%.

Dolby Laboratories Trading Up 8.2 %

NYSE:DLB opened at $87.20 on Friday. Dolby Laboratories has a 52 week low of $66.35 and a 52 week high of $89.66. The firm has a market capitalization of $8.32 billion, a PE ratio of 32.06 and a beta of 0.98. The stock has a 50 day moving average of $79.29 and a 200-day moving average of $75.73.

Insider Buying and Selling at Dolby Laboratories

In related news, CEO Kevin J. Yeaman sold 50,000 shares of Dolby Laboratories stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $80.54, for a total transaction of $4,027,000.00. Following the transaction, the chief executive officer now directly owns 83,721 shares of the company’s stock, valued at $6,742,889.34. The trade was a 37.39 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Mark Andrew Sherman sold 12,338 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $78.08, for a total transaction of $963,351.04. Following the transaction, the executive vice president now owns 62,397 shares of the company’s stock, valued at approximately $4,871,957.76. This trade represents a 16.51 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 135,917 shares of company stock valued at $10,877,739. Company insiders own 38.39% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on DLB. Rosenblatt Securities reaffirmed a “buy” rating and issued a $100.00 price objective on shares of Dolby Laboratories in a report on Thursday. Barrington Research reiterated an “outperform” rating and set a $100.00 price objective on shares of Dolby Laboratories in a research report on Monday. Finally, StockNews.com raised Dolby Laboratories from a “buy” rating to a “strong-buy” rating in a report on Wednesday, December 4th.

About Dolby Laboratories

Dolby Laboratories, Inc creates audio and imaging technologies that transform entertainment at the cinema, DTV transmissions and devices, mobile devices, OTT video and music services, home entertainment devices, and automobiles. The company develops and licenses its audio technologies, such as AAC & HE-AAC, a digital audio codec solution used for a range of media applications; AVC, a digital video codec with high bandwidth efficiency used in various media devices; Dolby AC-4, a digital audio coding technology that delivers new audio experiences to a range of playback devices; and Dolby Atmos technology for cinema and various media devices.