Otis Worldwide Corporation (OTIS) to Issue Quarterly Dividend of $0.44 on December 11th

Otis Worldwide Corporation (NYSE:OTIS) declared a quarterly dividend on Thursday, October 29th. Investors of record on Friday, November 13th will be paid a dividend of $0.44 per share on Friday, December 11th. This represents a $1.76 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date is Friday, November 13th.

Otis Worldwide has increased its dividend by an average of 0.2% per year over the last three years and has increased its dividend annually for the last 5 consecutive years. Otis Worldwide has a payout ratio of 39.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Otis Worldwide to earn $4.41 per share next year, which means the company should continue to be able to cover its $1.76 annual dividend with an expected future payout ratio of 39.9%.

Otis Worldwide Trading Down 1.0%

NYSE:OTIS opened at $78.02 on Wednesday. The stock has a 50 day moving average of $70.65 and a two-hundred day moving average of $76.05. Otis Worldwide has a 12 month low of $63.58 and a 12 month high of $94.57. The firm has a market cap of $29.70 billion, a P/E ratio of 19.41, a price-to-earnings-growth ratio of 2.86 and a beta of 0.87.

Otis Worldwide (NYSE:OTIS) last posted its quarterly earnings data on Wednesday, October 28th. The company reported $1.05 EPS for the quarter, beating the consensus estimate of $1.01 by $0.04. Otis Worldwide had a negative return on equity of 28.45% and a net margin of 10.28%. The firm had revenue of $3.91 billion during the quarter, compared to the consensus estimate of $3.85 billion. During the same period in the prior year, the company earned $1.05 EPS. The firm’s revenue was up 6.1% compared to the same quarter last year. On average, research analysts forecast that Otis Worldwide will post 4.03 earnings per share for the current year.

About Otis Worldwide

Otis Worldwide designs, manufactures, installs, services, and modernizes elevators, escalators, and moving walkways. Its equipment is used in residential, commercial, infrastructure, and institutional buildings, including offices, hotels, hospitals, and transit systems. The company also provides maintenance, repair, and modernization services for its own equipment and products made by other manufacturers. These services help building owners and operators maintain the safety, reliability, and performance of vertical transportation systems.