Allergan plc (AGN) to Issue Quarterly Dividend of $0.72 on December 14th

Allergan plc (NYSE:AGN) announced a quarterly dividend on Friday, October 26th, RTT News reports. Shareholders of record on Tuesday, November 13th will be given a dividend of 0.72 per share on Friday, December 14th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date is Friday, November 9th.

Allergan has raised its dividend payment by an average of 141.0% annually over the last three years. Allergan has a dividend payout ratio of 17.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Allergan to earn $16.59 per share next year, which means the company should continue to be able to cover its $2.88 annual dividend with an expected future payout ratio of 17.4%.

NYSE AGN opened at $163.05 on Friday. The firm has a market cap of $55.35 billion, a price-to-earnings ratio of 9.44, a P/E/G ratio of 1.29 and a beta of 1.31. Allergan has a fifty-two week low of $142.81 and a fifty-two week high of $197.00. The company has a current ratio of 0.92, a quick ratio of 0.85 and a debt-to-equity ratio of 0.32.

Allergan (NYSE:AGN) last posted its earnings results on Tuesday, October 30th. The company reported $4.25 earnings per share for the quarter, topping analysts’ consensus estimates of $4.04 by $0.21. The firm had revenue of $3.91 billion for the quarter, compared to analysts’ expectations of $3.89 billion. Allergan had a net margin of 14.50% and a return on equity of 8.44%. The company’s revenue was down 3.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.15 earnings per share. As a group, sell-side analysts predict that Allergan will post 16.43 earnings per share for the current year.

In other news, Director Joseph H. Boccuzi bought 900 shares of the company’s stock in a transaction that occurred on Thursday, August 30th. The shares were acquired at an average price of $190.59 per share, for a total transaction of $171,531.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Christopher J. Coughlin bought 10,000 shares of the company’s stock in a transaction that occurred on Thursday, September 6th. The stock was purchased at an average price of $190.64 per share, for a total transaction of $1,906,400.00. The disclosure for this purchase can be found here. 0.36% of the stock is currently owned by insiders.

AGN has been the topic of a number of research reports. Guggenheim initiated coverage on shares of Allergan in a research note on Monday, October 8th. They set a “buy” rating on the stock. ValuEngine raised shares of Allergan from a “strong sell” rating to a “sell” rating in a research note on Friday, September 21st. Raymond James decreased their target price on shares of Allergan from $232.00 to $198.00 and set a “buy” rating on the stock in a research note on Wednesday. Credit Suisse Group set a $213.00 price target on shares of Allergan and gave the stock a “buy” rating in a report on Friday, July 13th. Finally, Zacks Investment Research upgraded shares of Allergan from a “hold” rating to a “buy” rating and set a $193.00 price target on the stock in a report on Tuesday, July 24th. Two analysts have rated the stock with a sell rating, five have given a hold rating and eighteen have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $210.18.

About Allergan

Allergan plc, a pharmaceutical company, develops, manufactures, and commercializes branded pharmaceutical, device, biologic, surgical, and regenerative medicine products worldwide. It operates through US Specialized Therapeutics, US General Medicine, and International segments. The company offers a portfolio of products for the central nervous system, eye care, medical aesthetics and dermatology, gastroenterology, women's health, urology, and anti-infective therapeutic categories.

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Dividend History for Allergan (NYSE:AGN)

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