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Cerner Corporation Raises Dividend by 22%

Cerner Corporation (CERN) is a healthcare technology provider that assists clinicians in making care decisions and assists thousands of contracted provider facilities around the world in managing the health of their populations. The company also offers an integrated clinical and financial system to manage day-to-day revenue functions.

Since 2015, the company has added more U.S. hospitals across the spectrum of acute care than any other supplier, making it a market share leader across much of the country. The company aims to continue the growth by targeting RCM and ambulatory markets and deepening relationships with its existing clients that were acquired through M&A.

COVID-19 Has Mixed Impact

Cerner reported that its third-quarter revenue fell by 4.2% to $1.37 billion, which was in line with consensus analyst estimates, and its GAAP earnings were $1.16 per share, beating analyst consensus estimates by 64 cents per share. While COVID-19 has had a negative effect on the industry, the company has strengthened its relationships in helping partners manage their response.

The company believes that its solutions will help address many post-pandemic challenges, including ways to drive down the cost of care, deliver services at the network level and digitize medical data, among other things.

The steady financial results led the company to raise its dividend by 22.2% to 22 cents per share, which represents a 1.19% forward yield. The dividend is payable on January 12, 2020, to shareholders on record as of December 28, 2020.

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