Nokia Corporation (NYSE:NOK) Increases Dividend to $0.03 Per Share

Key Points

• Nokia Corporation has announced a quarterly dividend increase to $0.0348 per share, representing a 9.8% rise from the previous dividend, with a dividend yield of 2.2%.
• The company reported earnings of $0.07 per share for the quarter, exceeding analysts' expectations of $0.06, along with revenue of $5.61 billion, surpassing forecasts of $4.67 billion.
• Nokia's dividend payout ratio stands at 45.0%, indicating that the dividend is well-covered by earnings, and projections suggest it will maintain a payout ratio of 46.2% next year.

Nokia Corporation (NYSE:NOK - Get Free Report) announced a quarterly dividend on Monday, February 3rd. Shareholders of record on Tuesday, October 28th will be paid a dividend of 0.0348 per share by the technology company on Wednesday, November 12th. This represents a c) dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Tuesday, October 28th. This is a 9.8% increase from Nokia's previous quarterly dividend of $0.03.

Nokia has a dividend payout ratio of 45.0% meaning its dividend is sufficiently covered by earnings. Analysts expect Nokia to earn $0.39 per share next year, which means the company should continue to be able to cover its $0.18 annual dividend with an expected future payout ratio of 46.2%.

Nokia Stock Up 2.0%

Shares of NYSE:NOK opened at $6.30 on Friday. The stock has a market capitalization of $33.87 billion, a price-to-earnings ratio of 34.97 and a beta of 0.85. Nokia has a 1-year low of $3.91 and a 1-year high of $6.34. The company's fifty day moving average is $4.83 and its two-hundred day moving average is $4.91. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.21 and a current ratio of 1.46.

Nokia (NYSE:NOK - Get Free Report) last issued its earnings results on Thursday, October 23rd. The technology company reported $0.07 earnings per share for the quarter, topping analysts' consensus estimates of $0.06 by $0.01. The company had revenue of $5.61 billion for the quarter, compared to analysts' expectations of $4.67 billion. Nokia had a net margin of 4.65% and a return on equity of 8.31%. The firm's revenue was up 11.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.06 earnings per share. Equities analysts anticipate that Nokia will post 0.34 EPS for the current year.

Nokia Company Profile

Nokia Oyj provides mobile, fixed, and cloud network solutions worldwide. The company operates through four segments: Network Infrastructure, Mobile Networks, Cloud and Network Services, and Nokia Technologies. The company provides fixed networking solutions, such as fiber and copper-based access infrastructure, in-home Wi-Fi solutions, and cloud and virtualization services; IP networking solutions, including IP access, aggregation, and edge and core routing for residential, mobile, enterprise and cloud applications; optical networks solutions that provides optical transport networks for metro, regional, and long-haul applications, and subsea applications; and submarine networks for undersea cable transmission.

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