Labcorp, a global life sciences company, announced today that its Board of Directors (the Board) has declared a cash dividend of $0.72 per share of common stock. The dividend will be payable on June 9, 2022, to stockholders of record as of the close of business on May 19, 2022.
The declaration and payment of the dividend is consistent with Labcorp’s previously announced intention to initiate paying quarterly dividends beginning in the second quarter of 2022. Labcorp currently expects to continue to pay quarterly cash dividends, with future declarations subject to Board approval at its discretion. The decision of whether to pay future dividends and the amount of dividends will be based on Labcorp's financial position, results of operations, cash flows, capital requirements, applicable law, and any other factors the Board may deem relevant.
At a stock price of $273 the estimated dividend yield for Labcorp is 1.1%.
Laboratory Corporation of America Holdings (Labcorp) is a global life sciences company that provides clinical laboratory and end-to-end drug development services. The company’s business segments include Labcorp Diagnostics (Dx) and Labcorp Drug Development (DD). Labcorp serves a range of customers, including doctors, hospitals, pharmaceutical companies, researchers, governmental agencies, physicians and other healthcare providers. It also helps in delivering non-clinical testing services. Labcorp initiated a quarterly dividend in 2022.