Iron Mountain Incorporated (NYSE:IRM) Raises Dividend to $0.99 Per Share

Key Points

• Iron Mountain raised its quarterly dividend 14.9% to $0.993 per share, equivalent to about $3.97 annually and a 3.8% yield; shareholders of record December 15 are scheduled to be paid January 6.
• The dividend currently exceeds earnings, with a reported payout ratio of 148.1%, so the company is relying on its balance sheet. Analysts expect next year’s earnings to bring the payout ratio down to 57.4%.
• Third-quarter revenue rose 13.5% year over year to $1.99 billion, while adjusted funds from operations beat estimates. Shares nevertheless fell as investors reacted to concerns about near-term revenue guidance.

Iron Mountain Incorporated (NYSE:IRM - Get Free Report) declared a quarterly dividend on Wednesday, November 4th. Shareholders of record on Tuesday, December 15th will be paid a dividend of $0.9930 per share by the financial services provider on Wednesday, January 6th. This represents a $3.97 annualized dividend and a yield of 3.8%. The ex-dividend date is Tuesday, December 15th. This is a 14.9% increase from Iron Mountain's previous quarterly dividend of $0.8640.

Iron Mountain has raised its dividend by an average of 0.1% per year over the last three years and has raised its dividend annually for the last 3 consecutive years. Iron Mountain has a dividend payout ratio of 148.1% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Iron Mountain to earn $6.01 per share next year, which means the company should continue to be able to cover its $3.45 annual dividend with an expected future payout ratio of 57.4%.

Iron Mountain Stock Performance

Iron Mountain stock traded down $13.43 during mid-day trading on Thursday, reaching $105.23. The stock had a trading volume of 4,353,102 shares, compared to its average volume of 1,715,270. Iron Mountain has a fifty-two week low of $77.77 and a fifty-two week high of $134.68. The stock's 50-day simple moving average is $114.40 and its 200-day simple moving average is $115.26. The firm has a market capitalization of $31.33 billion, a PE ratio of 75.16 and a beta of 1.18.

Iron Mountain (NYSE:IRM - Get Free Report) last released its quarterly earnings data on Thursday, November 5th. The financial services provider reported $1.53 EPS for the quarter, beating the consensus estimate of $0.61 by $0.92. Iron Mountain had a negative return on equity of 85.44% and a net margin of 5.54%. The firm had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.99 billion. During the same quarter in the previous year, the company posted $1.32 earnings per share. The company's quarterly revenue was up 13.5% on a year-over-year basis. On average, research analysts forecast that Iron Mountain will post 5.42 earnings per share for the current fiscal year.

Key Iron Mountain News

Here are the key news stories impacting Iron Mountain this week:

• Positive Sentiment: Third-quarter adjusted funds from operations (AFFO) beat estimates, supported by data-center leasing growth, asset lifecycle management and resilient storage operations. Revenue was about $1.99 billion, up 13.5% year over year and roughly in line with forecasts. Article: IRM Q3 AFFO Beats Estimates on Data Center and ALM Growth
• Positive Sentiment: The company raised its 2026 outlook and increased its quarterly dividend by 15%, signaling confidence in its growth and cash generation. Article: Iron Mountain Increases Quarterly Dividend per Share by 15%
• Negative Sentiment: Investors appear concerned that fourth-quarter revenue guidance falls short of forecasts. That weaker near-term outlook is weighing on the shares despite the quarterly earnings beat and raised full-year outlook. Article: Iron Mountain shares decline as revenue guidance falls below forecasts despite Q3 earnings beat

Iron Mountain Company Profile

Iron Mountain Incorporated NYSE: IRM is a global information management and storage company that helps organizations protect, manage and optimize their physical and digital assets. Founded in 1951, the company began as a records storage provider and has expanded into a broader information lifecycle management business.

Its services include records storage and retrieval, information governance, secure shredding and destruction, document scanning, digital transformation, backup and recovery, and data center services.

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