Cochlear(ASX:COH) to pay interim dividend today; shares gain

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Highlights

  • Cochlear is set to pay its previously declared interim dividend of AU$1.55 per share today.
  • The company had reported robust earnings for the half-year ended 31 December 2021.
  • COH shares have gained 18% over the last three months.

Shareholders of hearing solutions provider Cochlear Limited (ASX:COH) are likely to receive the latest dividend from the company today. The company will pay an unfranked interim dividend of $1.55 per share to all eligible shareholders today (21 April) as announced earlier.

At the time of drafting this article, Cochlear shares traded 3.24% higher at AU$234.63 apiece compared to its previous closing value of AU$227.20.

COH FY22 Half-year results & interim dividend

On 22 February 2022, the company reported robust half-yearly earnings, in which it said its FY22 half-yearly revenues rose by 10% to AU$815 million on prior comparison period (PCP) basis. Revenues of the company were driven by an uneven split between emerging and developed markets.

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The company also witnessed a healthy 26% increase in its underlying net profit after tax which stood at AU$158 million.

COH maintained a solid balance sheet with net cash of AU$506 million. It had sufficient cash flows to fund its investing activities and capital expenditure, the company had said.

Related read - COH, AMC, REH: How much revenue these ASX shares reported in 1HFY22?

The COVID-19 pandemic had a significant impact on its half-yearly performance as it affected hospital staffing levels.

Outlook

The company has maintained its FY22 underlying net profit guidance range at AI$265-AU$285 million. However, COH anticipates its net profit margin to remain a little below its long-term target of 18% for FY22 and FY23.

COH share price performance

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COH shares have gained 2% year till date and in the last three months, shares of the company have rallied 18%.


 


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