SANTA CLARA, Calif. - Agilent Technologies, Inc. (NYSE:A), a provider of analytical and clinical laboratory technologies, has declared a quarterly dividend. On October 23, 2024, a dividend of 23.6 cents per share will be distributed to shareholders on record as of October 1, 2024.
The company, which reported revenues of $6.83 billion in fiscal 2023, employs approximately 18,000 people globally. While Agilent is recognized for its range of solutions that include instruments, software, services, and expertise, the dividend payout is a direct return to its shareholders.
Future dividends will remain at the discretion of Agilent's board of directors, who will determine the timing and amounts based on a variety of factors. This announcement is part of Agilent's ongoing commitment to providing value to its shareholders and reflects the company's financial health and stability.
Investors are advised that statements regarding future dividends are forward-looking and subject to risks and uncertainties. These could cause actual results to differ from current expectations, as detailed in the company's filings with the Securities and Exchange Commission, including the quarterly report for the quarter ended July 31, 2024.
As a standard policy, Agilent does not publicly update or revise any forward-looking statements, which are based upon management's beliefs and assumptions as well as information currently available.
This news is based on a press release statement and provides shareholders and potential investors with important information regarding their investments in Agilent Technologies.
In other recent news, Agilent Technologies has raised $1.2 billion through an underwritten public offering of senior notes, with two sets maturing in 2027 and 2034. The funds will potentially be used for the acquisition of BioVectra, as specified in the Second Supplemental Indenture. Meanwhile, the company's Q3 revenue for fiscal year 2024 was reported at $1.578 billion, a decrease of 4.4% year-over-year, but an improvement from the previous quarter. Earnings per share were $1.32, $0.04 above their guidance.
Agilent has expanded its capabilities through the strategic acquisitions of BIOVECTRA and Sigsense. The company has increased its full-year revenue and EPS guidance, indicating confidence in their strategic initiatives and market positioning. The full-year revenue is expected to be between $6.450 billion and $6.500 billion, and the full-year EPS is projected to be between $5.21 and $5.25.
In addition to these developments, Agilent Technologies has opened a new Biopharma CDx Services Lab in Carpinteria, California, to support the development of therapeutics and precision medicine. These developments are part of Agilent's ongoing efforts to navigate a challenging market environment through strategic acquisitions, cost-saving measures, and innovative service expansion.
InvestingPro Insights
Agilent Technologies, Inc. (NYSE:A) has been a consistent player in rewarding its shareholders, maintaining dividend payments for 13 consecutive years, a testament to its financial resilience. The latest dividend announcement of 23.6 cents per share aligns with the company's historical commitment to shareholder returns.
InvestingPro data indicates that Agilent has a market capitalization of $39.92 billion and operates with a moderate level of debt, which is a positive sign for investors looking for stability. The company's P/E ratio stands at 29.03, reflecting investor confidence in its earnings potential. Despite a slight decline in revenue growth over the last twelve months as of Q3 2024, with a decrease of 7.11%, the company's gross profit margin remains strong at 54.39%, showcasing its ability to maintain profitability.
One of the InvestingPro Tips highlights that management has been aggressively buying back shares, which can be an indicator of the leadership's belief in the company's valuation and prospects. Additionally, the company's stock is known to trade with low price volatility, providing a sense of security for investors who prefer less turbulent market movements.
For those seeking more in-depth analysis and additional InvestingPro Tips, there are currently 11 more tips available on Agilent Technologies, which can be accessed through the InvestingPro platform at https://www.investing.com/pro/A. These tips could provide further insights into the company's financial health, future earnings potential, and stock performance.
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