Intuit has announced that its board of directors has authorized a regular quarterly dividend of $0.78 per share ($3.12 annualized) on May 23, 2023. This is the same amount as the previous quarter. The ex-dividend date for this payout is July 7, 2023, and shareholders of record as of July 10, 2023, will receive the payment on July 18, 2023.
As of May 23, 2023, the stock price of Intuit is $413.18 per share. This means the dividend yield, which is the dividend payment expressed as a percentage of the stock price, is 0.76%. If we look back five years, the average dividend yield has been 0.70%, with a low of 0.39%, and a high of 1.09%.
The company’s dividend payout ratio is 0.39, indicating that the company pays out 39% of its income as dividends. Companies with limited growth prospects typically pay out most of their income in dividends, which corresponds to a payout ratio between 0.5 and 1.0. Companies with strong growth prospects tend to retain some of their earnings to invest in these prospects, which typically corresponds to a payout ratio of zero to 0.5.
Intuit’s 3-year dividend growth rate is 0.47%, which indicates that it has increased its dividend over that period.
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There are currently 2863 funds or institutions reporting positions in Intuit. This is an increase of 80 owners or 2.87% in the last quarter. The average portfolio weight of all funds dedicated to INTU is 0.69%, which is an increase of 8.75% from the previous quarter.
As of May 11, 2023, the average one-year price target for Intuit is $500.31, an increase of 21.09% from its latest reported closing price of $413.18.
Intuit is a mission-driven, global financial platform company whose products include TurboTax, QuickBooks, and Mint. Its innovative ecosystem of financial management solutions serves more than 50 million customers worldwide.
Key filings for the company can be found on Fintel.
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