Dollar General Co. (DG) to Issue Quarterly Dividend of $0.59 on October 22nd

Dollar General Co. (NYSE:DG) declared a quarterly dividend on Wednesday, August 28th, RTT News reports. Stockholders of record on Tuesday, October 8th will be given a dividend of 0.59 per share on Tuesday, October 22nd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date is Tuesday, October 8th.

Dollar General has raised its dividend by an average of 8.1% annually over the last three years. Dollar General has a payout ratio of 29.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Dollar General to earn $8.15 per share next year, which means the company should continue to be able to cover its $2.36 annual dividend with an expected future payout ratio of 29.0%.

Dollar General Stock Down 32.0 %

NYSE:DG opened at $84.20 on Friday. The firm has a market capitalization of $18.52 billion, a PE ratio of 12.26, a price-to-earnings-growth ratio of 2.36 and a beta of 0.43. Dollar General has a 52 week low of $84.00 and a 52 week high of $168.07. The company has a current ratio of 1.22, a quick ratio of 0.18 and a debt-to-equity ratio of 0.89. The stock has a 50 day moving average of $123.95 and a 200-day moving average of $136.79.

Dollar General (NYSE:DG) last issued its earnings results on Thursday, August 29th. The company reported $1.70 earnings per share for the quarter, missing the consensus estimate of $1.79 by ($0.09). Dollar General had a return on equity of 22.80% and a net margin of 3.85%. The company had revenue of $10.21 billion during the quarter, compared to analyst estimates of $10.37 billion. During the same period in the prior year, the business earned $2.13 earnings per share. Dollar General’s quarterly revenue was up 4.2% on a year-over-year basis. Analysts predict that Dollar General will post 7.21 EPS for the current year.

Analyst Upgrades and Downgrades

DG has been the subject of several recent analyst reports. Argus decreased their target price on shares of Dollar General from $175.00 to $170.00 and set a “buy” rating for the company in a research report on Monday, July 15th. Wells Fargo & Company lowered their target price on Dollar General from $145.00 to $130.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Truist Financial cut their target price on Dollar General from $135.00 to $130.00 and set a “hold” rating on the stock in a research note on Monday. Gordon Haskett cut Dollar General from a “buy” rating to a “hold” rating and set a $90.00 price target for the company. in a research note on Friday. Finally, Loop Capital cut their price objective on shares of Dollar General from $130.00 to $90.00 and set a “hold” rating on the stock in a research note on Friday. Fifteen investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Dollar General has an average rating of “Hold” and an average target price of $133.38.

About Dollar General

Dollar General Corporation, a discount retailer, provides various merchandise products in the southern, southwestern, midwestern, and eastern United States. It offers consumable products, including paper and cleaning products, such as paper towels, bath tissues, paper dinnerware, trash and storage bags, disinfectants, and laundry products; packaged food comprising cereals, pasta, canned soups, fruits and vegetables, condiments, spices, sugar, and flour; and perishables that include milk, eggs, bread, refrigerated and frozen food, beer, and wine.