In This Article:
Assessing the Sustainability of Novonesis AS's Upcoming Dividend
Novonesis AS (NVZMY) recently announced a dividend of $0.29 per share, payable on 2024-05-20, with the ex-dividend date set for 2024-05-01. As investors look forward to this upcoming payment, the spotlight also shines on the company's dividend history, yield, and growth rates. Using the data from GuruFocus, let's look into Novonesis AS's dividend performance and assess its sustainability.
What Does Novonesis AS Do?
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Novonesis AS, formerly known as Novozymes and Chr. Hansen, was formed in 2024 through a merger. The company is a global leader in industrial enzymes and microbial solutions, boasting a near-50% market share in both sectors. Novonesis AS caters to a diverse range of industries, including household care, food and beverages, bioenergy, agriculture and feed, technical and pharmaceuticals. The firm's biological solutions aim to enhance customer value by boosting yield efficiency and performance, and by promoting energy savings and waste reduction. With its headquarters in Denmark, Novonesis AS employs approximately 10,000 people and operates over 30 research and development centers and 23 manufacturing sites worldwide.
A Glimpse at Novonesis AS's Dividend History
Novonesis AS has upheld a steady dividend payment track record since 2004, with distributions occurring bi-annually. The company has also managed to increase its dividend annually since 2004, earning it the title of a dividend achievera distinction awarded to companies that have raised their dividends for at least 20 consecutive years. Below is a chart illustrating the annual Dividends Per Share to track historical trends.
Breaking Down Novonesis AS's Dividend Yield and Growth
As of today, Novonesis AS boasts a 12-month trailing dividend yield of 1.06% and a 12-month forward dividend yield of 1.59%. This indicates an expectation of increased dividend payments over the next year. In the past three years, Novonesis AS's annual dividend growth rate was a robust 24.80%. This growth rate moderates to 13.30% when viewed over a five-year span. Over the last decade, the company's annual dividends per share have grown at an impressive rate of 13.10%. Factoring in Novonesis AS's dividend yield and five-year growth rate, the 5-year yield on cost for Novonesis AS stock is approximately 1.98% as of today.