Otis Worldwide Corporation (NYSE:OTIS) Plans Quarterly Dividend of $0.44

Otis Worldwide Corporation (NYSE:OTIS) announced a quarterly dividend on Thursday, October 29th. Stockholders of record on Friday, November 13th will be given a dividend of $0.44 per share on Friday, December 11th. This represents a $1.76 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Friday, November 13th.

Otis Worldwide has increased its dividend payment by an average of 0.2% per year over the last three years and has raised its dividend annually for the last 5 consecutive years. Otis Worldwide has a dividend payout ratio of 39.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Otis Worldwide to earn $4.47 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 39.4%.

Otis Worldwide Trading Up 2.5%

Otis Worldwide stock opened at $74.69 on Friday. The company has a fifty day simple moving average of $69.60 and a 200-day simple moving average of $76.50. Otis Worldwide has a 12-month low of $63.58 and a 12-month high of $94.57. The stock has a market cap of $28.43 billion, a P/E ratio of 18.58, a price-to-earnings-growth ratio of 2.56 and a beta of 0.87.

Otis Worldwide (NYSE:OTIS) last announced its earnings results on Wednesday, October 28th. The company reported $1.05 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.04. The company had revenue of $3.91 billion for the quarter, compared to the consensus estimate of $3.85 billion. Otis Worldwide had a negative return on equity of 28.45% and a net margin of 10.28%. The company’s revenue was up 6.1% on a year-over-year basis. During the same period last year, the business posted $1.05 EPS. As a group, sell-side analysts forecast that Otis Worldwide will post 4.03 earnings per share for the current fiscal year.

Otis Worldwide Company Profile

Otis Worldwide Corporation (NYSE: OTIS) is a global manufacturer and service provider for the elevator and escalator industry. The company designs, manufactures, installs, modernizes and maintains elevators, escalators and moving walkways for commercial buildings, residential developments, transportation hubs and other infrastructure projects.

Otis provides equipment for new construction as well as maintenance, repair and modernization services for existing systems. Its service operations support equipment from Otis and other manufacturers, helping building owners and operators manage the safety, performance and lifecycle of vertical transportation systems.

The company traces its history to 1853, when Elisha Otis demonstrated a safety device for elevators.