Iridium Communications Inc (NASDAQ:IRDM) Declares $0.15 Quarterly Dividend

Key Points

• Iridium Communications declared a quarterly dividend of $0.15 per share, payable September 30 to shareholders of record on September 15. The dividend represents $0.60 annually and yields approximately 1.2%.
• The dividend appears adequately covered, with a current payout ratio of 45.1%; analysts expect next year’s earnings to support a projected payout ratio of 47.6%.
• Iridium’s latest quarterly earnings were mixed: revenue of $225.24 million exceeded expectations, but earnings per share of $0.09 fell short of the $0.28 consensus estimate.

Iridium Communications Inc (NASDAQ:IRDM - Get Free Report) declared a quarterly dividend on Monday, August 10th. Investors of record on Tuesday, September 15th will be paid a dividend of 0.15 per share by the technology company on Wednesday, September 30th. This represents a c) dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Tuesday, September 15th.

Iridium Communications has a dividend payout ratio of 45.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect Iridium Communications to earn $1.26 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 47.6%.

Iridium Communications Stock Performance

IRDM stock traded up $0.04 during midday trading on Wednesday, reaching $49.42. The stock had a trading volume of 190,215 shares, compared to its average volume of 2,356,919. The firm has a fifty day simple moving average of $47.94 and a two-hundred day simple moving average of $37.42. Iridium Communications has a 52-week low of $15.65 and a 52-week high of $57.18. The company has a debt-to-equity ratio of 3.70, a quick ratio of 2.31 and a current ratio of 2.78. The stock has a market cap of $5.24 billion, a PE ratio of 56.16, a P/E/G ratio of 3.99 and a beta of 0.88.

Iridium Communications (NASDAQ:IRDM - Get Free Report) last posted its quarterly earnings results on Wednesday, July 22nd. The technology company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.19). The firm had revenue of $225.24 million for the quarter, compared to analysts' expectations of $220.32 million. Iridium Communications had a net margin of 10.55% and a return on equity of 22.57%. The firm's revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.20 EPS. As a group, equities research analysts anticipate that Iridium Communications will post 0.95 EPS for the current year.

About Iridium Communications

Iridium Communications Inc operates a global satellite communications network that delivers voice and data services across land, sea and air. The company's unique architecture relies on a constellation of 66 low-Earth orbit satellites, enabling real-time connectivity in regions beyond the reach of terrestrial wireless networks. Iridium's core offerings include satellite voice and messaging services, broadband data terminals, push-to-talk (PTT) interoperability and machine-to-machine (M2M) solutions for the Internet of Things (IoT).

Iridium serves a diverse range of markets, including maritime shipping, aviation, government and defense, energy, and enterprise.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source