Thermo Fisher Scientific announces cash dividend, hosts Investor Day

Thermo Fisher Scientific’s Board of Directors have authorized a quarterly cash dividend of $0.35 per common share, payable on July 14, 2023, to shareholders of record as of June 15, 2023. Shares must be purchased before the ex-div date of June 14, 2023 to qualify for the dividend. Shareholders of record as of June 15, 2023 will receive the payment on July 14, 2023. At the current share price of $510.72 / share, the stock’s dividend yield is 0.27%. Looking back five years and taking a sample every week, the average dividend yield has been 0.24%, the lowest has been 0.16%, and the highest has been 0.34%. The standard deviation of yields is 0.04 (n=237). The current dividend yield is 0.87 standard deviations above the historical average.

The vendor on its Investor’s Day celebration provided an in-depth review of the company’s proven growth strategy and its industry-leading businesses: Life Science Solutions, Analytical Instruments, Specialty Diagnostics and Laboratory Products and Biopharma Services.

“Science is advancing at a rapid rate and we continue to bring high-impact innovation, and unique insights to differentiate Thermo Fisher as the trusted partner to our customers,” said Marc N. Casper, chairman, president and chief executive officer. “As an incredibly well-positioned industry leader, we will continue to advance scientific discovery through our Mission to enable our customers to make the world healthier, cleaner and safer.”

Casper continued, “Our proven growth strategy and capital deployment approach, powered by our PPI Business System, create tremendous value for all stakeholders and position the company for a very bright future.”

At event, Thermo Fisher Scientific highlighted:

• Industry leadership in attractive and resilient end markets
  • Thermo Fisher is the leader serving an attractive $240 billion market with long-term market growth of 4% to 6%.

• Leading businesses offer best-in-class products and services
  • Our industry-leading businesses are essential to the work our customers do and enable their success by accelerating their innovation and enhancing their productivity. Our businesses have an outstanding track record of value creation and a bright future.

• Proven growth strategy drives share gain
  • Thermo Fisher’s high-impact innovation, trusted partner status with industry-leading products, services and expertise, and an unparalleled commercial engine continue to uniquely position the company to drive meaningful share gain over the long-term.

• Proven capital deployment approach creates tremendous value
  • Thermo Fisher has a disciplined capital deployment strategy which is a combination of strategic M&A and returning capital to shareholders. Our proven M&A approach leverages rigorous selection criteria, disciplined decision-making and a strong integration process to better serve our customers and create value for our shareholders.

• Practical Process Improvement PPI Business System enables outstanding execution
  • PPI is at the core of Thermo Fisher’s culture, with a focus on continuous improvement that drives quality, productivity and customer allegiance and engages every colleague to find a better way, every day. PPI delivers competitive advantage, enables successful integration of acquisitions and drives differentiated financial performance.

• Mission-led ESG strategy drives competitive differentiation
  • The company continues to differentiate itself by advancing its ESG strategy including innovating for a cleaner planet, investing in colleagues and communities, and driving impact and accountability. More details can be found in the most recent CSR Report.

• Consistently delivering exceptional financial results with an outstanding long-term outlook
  • Thermo Fisher’s proven growth strategy drives share gain and its capital deployment approach creates tremendous value, positioning the company to deliver Core organic revenue growth of 7% to 9% and mid-teens adjusted EPS growth over the long-term.

MB Bureau