Elbit Systems Ltd. (NASDAQ:ESLT) Announces Dividend Increase – $0.50 Per Share

Elbit Systems Ltd. (NASDAQ:ESLT) declared a quarterly dividend on Wednesday, November 20th,Wall Street Journal reports. Shareholders of record on Monday, December 23rd will be given a dividend of 0.50 per share by the aerospace company on Monday, January 6th. This represents a $2.00 dividend on an annualized basis and a yield of 0.80%. The ex-dividend date of this dividend is Monday, December 23rd. This is a boost from Elbit Systems’s previous quarterly dividend of $0.42.

Elbit Systems has increased its dividend payment by an average of 6.2% annually over the last three years. Elbit Systems has a payout ratio of 23.9% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Elbit Systems to earn $8.50 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 23.5%.

Elbit Systems Price Performance

ESLT stock opened at $249.07 on Friday. The firm has a 50 day moving average of $215.06 and a 200-day moving average of $199.30. The firm has a market capitalization of $11.07 billion, a P/E ratio of 42.58 and a beta of 0.51. Elbit Systems has a 12 month low of $175.30 and a 12 month high of $252.50. The company has a current ratio of 1.13, a quick ratio of 0.63 and a debt-to-equity ratio of 0.10.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Elbit Systems from a “buy” rating to a “strong-buy” rating in a report on Wednesday.

Elbit Systems Company Profile

Elbit Systems Ltd. develops and supplies a portfolio of airborne, land, and naval systems and products for the defense, homeland security, and commercial aviation applications primarily in Israel. The company operates through Aerospace, C4I and Cyber, ISTAR and EW, Land, and Elbit Systems of America segments.