Cognex Corporation (CGNX) to Distribute Quarterly Dividend of $0.09 on December 3rd

Cognex Corporation (NASDAQ:CGNX) declared a quarterly dividend on Wednesday, November 4th. Investors of record on Thursday, November 19th will be paid a dividend of $0.09 per share by the scientific and technical instruments company on Thursday, December 3rd. This represents a $0.36 annualized dividend and a yield of 0.8%. The ex-dividend date is Thursday, November 19th. This is a 5.9% increase from Cognex’s previous quarterly dividend of $0.0850.

Cognex has decreased its dividend by an average of 0.3% per year over the last three years and has raised its dividend every year for the last 10 years. Cognex has a dividend payout ratio of 31.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect Cognex to earn $1.93 per share next year, which means the company should continue to be able to cover its $0.34 annual dividend with an expected future payout ratio of 17.6%.

Cognex Stock Down 10.5%

Shares of CGNX stock opened at $47.49 on Friday. The company has a market capitalization of $7.99 billion, a P/E ratio of 35.85 and a beta of 1.49. Cognex has a 12-month low of $34.60 and a 12-month high of $72.88. The firm has a 50-day moving average price of $59.36 and a 200 day moving average price of $57.99.

Cognex (NASDAQ:CGNX) last issued its quarterly earnings data on Wednesday, November 4th. The scientific and technical instruments company reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.01. The firm had revenue of $313.39 million for the quarter, compared to analysts’ expectations of $313.62 million. Cognex had a net margin of 21.50% and a return on equity of 16.24%. The company’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.33 earnings per share. As a group, research analysts expect that Cognex will post 1.68 earnings per share for the current year.

About Cognex

Cognex Corporation develops machine vision and industrial identification technologies that help manufacturers and businesses automate inspection, measurement, guidance, and tracking processes. Its systems use cameras, sensors, software, and artificial intelligence to analyze images and identify products, defects, components, and other objects.

The company’s product portfolio includes vision systems, industrial cameras, vision sensors, barcode readers, optical character recognition tools, three-dimensional vision systems, and machine vision software.