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Danaher Hikes Dividend 17% As COVID-19 Led Demand and Acquisitions Drive Growth

Danaher Corporation (DHR) is a global science and technology innovator that’s composed of more than 20 operating companies across life sciences, diagnostics, environmental and applied sectors.

The company generated 47% of its revenue from Life Sciences, 33% from Diagnostics and 20% from Environmental and Applied Solutions in 2020. In geographical terms, the company generated 40% of its revenue from North America, 24% from Western Europe, 6% from other developed markets and 30% from high-growth markets.

COVID-19 and Acquisitions Drive Growth

Danaher reported fourth quarter revenue that rose 38.8% to $6.76 billion, beating consensus estimates by $140 million, with non-GAAP earnings of $2.08 per share, beating consensus estimates by 21 cents. The Life Sciences division saw the greatest year-over-year growth due to acquisitions and higher sales from COVID-19 related instruments and consumables.

For the full year, the company expects high-single- to low-double-digit core sales growth with low-double-digit growth including Cytiva. The company also raised its quarterly dividend by 16.7% to $0.21 per share, which represents a 0.39% forward yield. The dividend is payable on April 30, 2021, to shareholders on record as of March 26, 2021, and represents its fourth consecutive year of dividend increases.

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