Rogers Communication, Inc. (NYSE:RCI) to Issue Dividend Increase - $0.37 Per Share

Rogers Communication, Inc. (NYSE:RCI - Get Free Report) TSE: RCI.B declared a quarterly dividend on Thursday, July 24th, Wall Street Journal reports. Investors of record on Monday, September 8th will be paid a dividend of 0.3672 per share by the Wireless communications provider on Friday, October 3rd. This represents a $1.47 dividend on an annualized basis and a yield of 4.33%. The ex-dividend date of this dividend is Monday, September 8th. This is a 1.7% increase from Rogers Communication's previous quarterly dividend of $0.36.

Rogers Communication has a dividend payout ratio of 40.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Rogers Communication to earn $3.83 per share next year, which means the company should continue to be able to cover its $1.46 annual dividend with an expected future payout ratio of 38.1%.

Rogers Communication Stock Performance

RCI stock traded down $0.36 on Monday, reaching $33.96. 912,419 shares of the company were exchanged, compared to its average volume of 1,764,548. Rogers Communication has a 12 month low of $23.18 and a 12 month high of $41.84. The stock's fifty day moving average price is $29.59 and its 200 day moving average price is $27.84. The firm has a market capitalization of $18.27 billion, a PE ratio of 16.90, a PEG ratio of 1.85 and a beta of 0.76. The company has a debt-to-equity ratio of 2.23, a current ratio of 1.70 and a quick ratio of 1.64.

Rogers Communication (NYSE:RCI - Get Free Report) TSE: RCI.B last announced its quarterly earnings results on Wednesday, July 23rd. The Wireless communications provider reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.02. The firm had revenue of $3.82 billion for the quarter, compared to analyst estimates of $5.12 billion. Rogers Communication had a net margin of 7.33% and a return on equity of 21.59%. The business's revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.16 EPS. On average, research analysts anticipate that Rogers Communication will post 3.57 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

RCI has been the topic of several analyst reports. Scotiabank reaffirmed a "sector perform" rating on shares of Rogers Communication in a report on Tuesday, July 15th. BMO Capital Markets reaffirmed an "outperform" rating on shares of Rogers Communication in a report on Wednesday, July 2nd. Finally, Canaccord Genuity Group upgraded shares of Rogers Communication from a "hold" rating to a "buy" rating in a research report on Friday, April 4th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $72.00.

About Rogers Communication

Rogers Communications Inc operates as a communications and media company in Canada. It operates through three segments: Wireless, Cable, and Media. The company offers mobile Internet access, wireless voice and enhanced voice, device financing, device protection, global voice and data roaming, wireless home phone, bridging landline, machine-to-machine and Internet of Things solutions, and advanced wireless solutions for businesses, as well as device shipping and express pickup services; and postpaid and prepaid services under the Rogers, Fido, and chatr brands.