AudioCodes Ltd. (NASDAQ:AUDC) Plans $0.20 Half year 25 Dividend

Key Points

• AudioCodes Ltd. announced a half year 25 dividend of $0.20, with payment scheduled for August 28th to stockholders of record by August 14th.
• The company has a dividend payout ratio of 46.8%, indicating that its dividend is well-covered by earnings, and is expected to maintain a 40.0%% payout ratio next year.
• Hedge funds and institutional investors hold approximately 68.05% of AudioCodes’ stock, with notable increases in stakes from firms like Jane Street Group and Cubist Systematic Strategies.

AudioCodes Ltd. (NASDAQ:AUDC - Get Free Report) announced a half year 25 dividend on Tuesday, July 29th, RTT News reports. Investors of record on Thursday, August 14th will be given a dividend of 0.20 per share by the communications equipment provider on Thursday, August 28th. This represents a yield of 350.0%. The ex-dividend date is Thursday, August 14th.

AudioCodes has a payout ratio of 46.8% meaning its dividend is sufficiently covered by earnings. Analysts expect AudioCodes to earn $0.90 per share next year, which means the company should continue to be able to cover its $0.36 annual dividend with an expected future payout ratio of 40.0%.

AudioCodes Stock Down 3.4%

NASDAQ:AUDC traded down $0.34 during mid-day trading on Friday, reaching $9.68. The company's stock had a trading volume of 133,192 shares, compared to its average volume of 191,921. The firm has a market capitalization of $287.30 million, a PE ratio of 21.51 and a beta of 0.89. The stock has a fifty day moving average of $9.67 and a 200-day moving average of $9.88. AudioCodes has a 1 year low of $7.70 and a 1 year high of $12.72.

Analyst Ratings Changes

Several analysts have commented on the stock. Needham & Company LLC reissued a "buy" rating and set a $12.50 price target on shares of AudioCodes in a research report on Wednesday, May 7th. Wall Street Zen lowered shares of AudioCodes from a "buy" rating to a "hold" rating in a research report on Saturday, July 12th.

About AudioCodes

AudioCodes Ltd. provides advanced communications software, products, and productivity solutions for the digital workplace worldwide. The company offers solutions, products, and services for unified communications, contact centers, hosted business services, Voice.AI, and service provider businesses. Its products include session border controllers, life cycle management solutions, VoIP network routing solutions, media gateways and servers, multi-service business routers, IP phones solutions, and value-added applications, as well as professional services.