DUBLIN - STERIS plc (NYSE:STE), a global leader in infection prevention and procedural products and services, has declared a quarterly interim dividend of $0.57 per share, payable on December 19, 2024, to shareholders of record as of November 19, 2024. This announcement was made today, and it marks a continuation of the company's commitment to providing returns to its shareholders.
The dividend distribution is part of STERIS's regular practice of sharing profits with its investors and reflects the company's financial health and stable performance. Shareholders can access additional information regarding the U.S. tax treatment of the dividends, including required Forms 8937, on the company's investor relations website.
STERIS, with its emphasis on supporting patient care through infection prevention, operates globally, offering a range of healthcare and life sciences products and services. The company has positioned itself as a key player in the industry, helping to create healthier and safer environments around the world.
While the press release includes forward-looking statements regarding trends, forecasts, and expectations pertaining to the company's industry and activities, these are subject to various risks and uncertainties. Factors such as market conditions, regulatory changes, competitive pressures, and technological advancements could materially affect actual outcomes. STERIS emphasizes that forward-looking statements are predictions as of the date they are made and are not guarantees of future performance.
Investors are reminded that the information disclosed is based on a press release statement from STERIS plc. As such, it should be considered in the context of the company's publicly shared plans and records. The dividend announcement is a key piece of information for shareholders and the market at large, reflecting the company's current financial strategy and commitment to shareholder value.
This dividend distribution is a clear indicator of STERIS's financial policies and its approach to managing investor returns. Shareholders and potential investors can follow the company's performance and future dividend announcements through its investor relations communications.
"In other recent news, STERIS Plc reported a robust first-quarter performance for 2025, with an 8% increase in total revenue and a 10% rise in adjusted earnings per share to $2.03. The company also announced its 19th consecutive year of dividend increases and a $100 million restructuring plan aimed at enhancing operations. Financial services firm Piper Sandler upgraded STERIS stock from Neutral to Overweight, raising the price target from $230.00 to $260.00, reflecting optimism about the company's prospects despite healthcare equipment sector concerns and litigation risks. KeyBanc also increased the price target on STERIS shares from $255.00 to $265.00, maintaining an Overweight rating, expressing confidence in STERIS's financial outlook for fiscal year 2025. STERIS's net income reached $201.7 million, and its total debt decreased to $2.3 billion. Amid potential impacts of reduced funding in the pharma and bio-pharma industries, STERIS reported mid-single-digit order growth and a $350 million backlog in the healthcare equipment segment. These are recent developments that could influence the company's future performance."
InvestingPro Insights
STERIS plc's recent dividend announcement aligns with its strong track record of shareholder returns. According to InvestingPro data, the company has raised its dividend for 13 consecutive years and has maintained dividend payments for 20 consecutive years. This consistency underscores STERIS's commitment to returning value to shareholders, which is further emphasized by the current dividend yield of 1.02%.
The company's financial health appears robust, with InvestingPro Tips indicating that STERIS operates with a moderate level of debt and its liquid assets exceed short-term obligations. This financial stability supports the company's ability to continue its dividend policy. Moreover, STERIS has demonstrated profitability over the last twelve months, with analysts predicting continued profitability this year.
STERIS's market position is reflected in its substantial market capitalization of $22.13 billion USD. The company has shown solid revenue growth, with a 14.72% increase in the last twelve months as of Q1 2023, reaching $5.23 billion USD. This growth trajectory supports the company's ability to sustain and potentially increase shareholder returns in the future.
For investors seeking more comprehensive analysis, InvestingPro offers additional insights with 10 more tips available for STERIS, providing a deeper understanding of the company's financial position and market performance.
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