Rogers Communication, Inc. (NYSE:RCI) Plans C$0.50 Quarterly Dividend

Key Points

• Rogers Communication declared a quarterly dividend of C$0.50 per share, payable on October 2 to shareholders of record as of September 8. That works out to an annualized yield of about 6.1%.
• The company’s dividend appears covered by earnings, with a 40.6% payout ratio; analysts expect Rogers to earn $3.46 per share next year, implying a similar future payout ratio of 41.9%.
• Rogers recently reported quarterly EPS of $0.74, slightly ahead of expectations, though revenue of $3.94 billion came in below estimates. The stock traded lower on the day, and institutional investors own about 45.49% of shares.

Rogers Communication, Inc. (NYSE:RCI - Get Free Report) TSE: RCI.B declared a quarterly dividend on Wednesday, July 22nd. Investors of record on Tuesday, September 8th will be paid a dividend of 0.50 per share by the Wireless communications provider on Friday, October 2nd. This represents a c) dividend on an annualized basis and a dividend yield of 6.1%. The ex-dividend date of this dividend is Tuesday, September 8th.

Rogers Communication has decreased its dividend by an average of 0.0%annually over the last three years. Rogers Communication has a payout ratio of 40.6% meaning its dividend is sufficiently covered by earnings. Analysts expect Rogers Communication to earn $3.46 per share next year, which means the company should continue to be able to cover its $1.45 annual dividend with an expected future payout ratio of 41.9%.

Rogers Communication Price Performance

NYSE:RCI traded down $1.45 during mid-day trading on Wednesday, reaching $32.92. The stock had a trading volume of 2,424,735 shares, compared to its average volume of 1,238,786. The stock has a market capitalization of $17.78 billion, a P/E ratio of 3.47, a P/E/G ratio of 4.24 and a beta of 0.64. The firm has a 50 day moving average price of $35.77 and a two-hundred day moving average price of $36.66. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.53 and a current ratio of 0.55. Rogers Communication has a one year low of $31.38 and a one year high of $41.14.

Rogers Communication (NYSE:RCI - Get Free Report) TSE: RCI.B last issued its quarterly earnings results on Wednesday, April 22nd. The Wireless communications provider reported $0.74 EPS for the quarter, beating analysts' consensus estimates of $0.73 by $0.01. The business had revenue of $3.94 billion for the quarter, compared to analysts' expectations of $5.44 billion. Rogers Communication had a net margin of 32.00% and a return on equity of 12.11%. The business's quarterly revenue was up 10.2% on a year-over-year basis. During the same period last year, the business earned $0.99 earnings per share. As a group, analysts expect that Rogers Communication will post 3.36 earnings per share for the current year.

Hedge Funds Weigh In On Rogers Communication

A number of hedge funds have recently modified their holdings of the company. Invesco Ltd. raised its stake in shares of Rogers Communication by 52.3% during the second quarter. Invesco Ltd. now owns 934,712 shares of the Wireless communications provider's stock valued at $27,724,000 after acquiring an additional 321,124 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Rogers Communication by 52.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,981 shares of the Wireless communications provider's stock worth $59,000 after buying an additional 683 shares during the period. Marshall Wace LLP grew its position in shares of Rogers Communication by 36.5% in the 2nd quarter. Marshall Wace LLP now owns 37,179 shares of the Wireless communications provider's stock worth $1,103,000 after buying an additional 9,951 shares during the last quarter. Cerity Partners LLC increased its stake in shares of Rogers Communication by 7.0% during the second quarter. Cerity Partners LLC now owns 11,007 shares of the Wireless communications provider's stock valued at $326,000 after buying an additional 724 shares during the period. Finally, AXA S.A. raised its holdings in shares of Rogers Communication by 231.1% during the second quarter. AXA S.A. now owns 49,945 shares of the Wireless communications provider's stock valued at $1,481,000 after acquiring an additional 34,860 shares in the last quarter. Hedge funds and other institutional investors own 45.49% of the company's stock.

About Rogers Communication

Rogers Communications Inc is a Canadian integrated communications and media company headquartered in Toronto, Ontario. The company provides a broad range of telecommunications services to residential and business customers across Canada, including wireless voice and data services, cable television, high-speed internet, and home phone services. In the enterprise market it offers managed IT, data center and cloud solutions, networking and connectivity services targeted to small businesses, large enterprises and public sector clients.

In addition to connectivity services, Rogers operates a significant media portfolio that includes national and regional television and radio assets, sports broadcasting properties and other content businesses.

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