Universal Display Corporation (OLED ) is a leader in the research and development of OLED technologies and materials for use in display and solid-state lighting applications.
The company generated 54% of its revenue from material sales, 43% of its revenue from royalty and license fees, and 3% of its revenue from contract research services in 2020. These sales primarily came from South Korea (61%) and China (33%).
Strong Earnings & 2021 Outlook
Universal Display reported fourth-quarter revenue that rose by 39.1% to $141.5 million, beating consensus estimates by $32 million, with GAAP earnings of $1.13 per share, beating consensus estimates by 49 cents. The company anticipates 2021 revenue of between $530 million and $560 million.
Roth Capital cited an improved 2021 outlook, with an expected recovery in mobile devices and continued growth in OLED TVs. This, in turn, supports the company’s 2021 guidance for 24% to 31% growth.
The company raised its quarterly dividend by 33.3% to $0.20 per share, which represents a 0.38% forward yield. The dividend is payable on March 31, 2021 to shareholders on record as of March 16, 2021.
Want to keep track of all dividend increases? Subscribe to Dividend.com and have complete access to our exclusive dividend increases list here.