News Corporation Declares Semi-annual Dividend of $0.10 (NASDAQ:NWS)

Key Points

• News Corporation announced a semi-annual dividend of $0.10 per share, with the dividend payable on October 8th to shareholders of record as of September 10th.
• The company's current dividend payout ratio is 19.2%, indicating that earnings sufficiently cover the dividend, with an expected future payout ratio of 20.6% based on projected earnings of $0.97 per share.
• In its last earnings report, News Corporation reported $0.19 earnings per share, exceeding analysts' expectations, alongside revenue of $2.11 billion, which also surpassed projections.

News Corporation (NASDAQ:NWS - Get Free Report) declared a semi-annual dividend on Wednesday, August 6th, Wall Street Journal reports. Shareholders of record on Wednesday, September 10th will be given a dividend of 0.10 per share on Wednesday, October 8th. This represents a yield of 60.0%. The ex-dividend date is Wednesday, September 10th.

News has a dividend payout ratio of 19.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect News to earn $0.97 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 20.6%.

News Price Performance

NASDAQ NWS traded up $0.36 during trading on Wednesday, hitting $33.91. 1,233,092 shares of the stock traded hands, compared to its average volume of 749,453. The company has a market capitalization of $19.20 billion, a P/E ratio of 39.43 and a beta of 1.23. The company has a quick ratio of 1.60, a current ratio of 1.68 and a debt-to-equity ratio of 0.21. The firm has a 50-day simple moving average of $33.31 and a 200-day simple moving average of $32.16. News has a 12-month low of $26.25 and a 12-month high of $35.58.

News (NASDAQ:NWS - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.01. The business had revenue of $2.11 billion during the quarter, compared to the consensus estimate of $2.09 billion. News had a net margin of 5.18% and a return on equity of 5.64%. As a group, analysts predict that News will post 1.03 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. NorthRock Partners LLC acquired a new position in shares of News in the second quarter worth about $27,000. SVB Wealth LLC purchased a new stake in shares of News during the first quarter worth about $27,000. First Horizon Advisors Inc. grew its stake in News by 3,546.2% during the 1st quarter. First Horizon Advisors Inc. now owns 948 shares of the company's stock valued at $29,000 after acquiring an additional 922 shares in the last quarter. Resona Asset Management Co. Ltd. grew its stake in News by 75.3% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 964 shares of the company's stock valued at $29,000 after acquiring an additional 414 shares in the last quarter. Finally, ExodusPoint Capital Management LP purchased a new stake in News during the 4th quarter valued at about $43,000. 14.63% of the stock is currently owned by institutional investors and hedge funds.

About News

News Corporation, a media and information services company, creates and distributes authoritative and engaging content, and other products and services for consumers and businesses worldwide. It operates through six segments: Digital Real Estate Services, Subscription Video Services, Dow Jones, Book Publishing, News Media, and Other.

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