Rogers Communications Inc. (TSE:RCI.B) Declares Quarterly Dividend of $0.50

Key Points

• Rogers Communications Inc. has announced a quarterly dividend of $0.50 per share, set to be paid on Friday, October 3rd, to shareholders who are on record as of that date.
• The company's stock recently showed positive performance, trading up by 0.9% and currently priced at C$49.70.
• Rogers is the largest wireless service provider in Canada, serving over 10 million subscribers, which contributes significantly to its sales, accounting for 60% of total revenue in 2021.

Rogers Communications Inc. (TSE:RCI.B - Get Free Report) NYSE: RCI announced a quarterly dividend on Monday, September 8th, TickerTech Dividends reports. Shareholders of record on Friday, October 3rd will be paid a dividend of 0.50 per share on Friday, October 3rd. This represents a c) dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date is Monday, September 8th.

Rogers Communications Price Performance

Shares of Rogers Communications stock traded up C$0.60 during trading on Thursday, reaching C$49.74. 925,060 shares of the company's stock were exchanged, compared to its average volume of 1,964,495. The company has a debt-to-equity ratio of 436.50, a quick ratio of 0.58 and a current ratio of 0.65. Rogers Communications has a 1-year low of C$32.42 and a 1-year high of C$56.00. The company has a market cap of C$26.87 billion, a P/E ratio of 17.83, a PEG ratio of 0.32 and a beta of 1.02. The firm's 50-day moving average price is C$47.18 and its 200 day moving average price is C$40.76.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. TD Securities raised their price target on shares of Rogers Communications from C$57.00 to C$58.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. National Bankshares set a C$59.00 target price on shares of Rogers Communications and gave the company an "outperform" rating in a research report on Tuesday, August 12th. BMO Capital Markets upped their price target on shares of Rogers Communications from C$55.00 to C$57.00 and gave the stock an "outperform" rating in a report on Wednesday, July 2nd. JPMorgan Chase & Co. raised their price objective on Rogers Communications from C$55.00 to C$59.00 in a report on Friday, July 25th. Finally, CIBC lowered their target price on Rogers Communications from C$76.00 to C$55.00 and set an "outperform" rating for the company in a report on Thursday, July 3rd. Eight investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Rogers Communications presently has a consensus rating of "Moderate Buy" and an average target price of C$54.27.

About Rogers Communications

Rogers is the largest wireless service provider in Canada, with its more than 10 million subscribers equating to one third of the total Canadian market. Rogers' wireless business accounted for 60% of the company's total sales in 2021 and has increasingly provided a bigger portion of total company sales over the last several years.