Royalty Pharma plc (NASDAQ:RPRX) Declares $0.22 Quarterly Dividend

Royalty Pharma plc (NASDAQ:RPRX - Get Free Report) declared a quarterly dividend on Monday, April 21st, Wall Street Journal reports. Shareholders of record on Friday, May 16th will be given a dividend of 0.22 per share by the biopharmaceutical company on Tuesday, June 10th. This represents a $0.88 annualized dividend and a yield of 2.73%. The ex-dividend date is Friday, May 16th.

Royalty Pharma has raised its dividend by an average of 7.3% per year over the last three years. Royalty Pharma has a dividend payout ratio of 17.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Royalty Pharma to earn $4.86 per share next year, which means the company should continue to be able to cover its $0.88 annual dividend with an expected future payout ratio of 18.1%.

Royalty Pharma Price Performance

Shares of NASDAQ RPRX traded up $0.17 on Friday, hitting $32.20. The company's stock had a trading volume of 3,442,452 shares, compared to its average volume of 3,259,813. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.44 and a quick ratio of 1.44. The stock has a 50 day moving average of $32.52 and a 200-day moving average of $29.44. Royalty Pharma has a 12-month low of $24.05 and a 12-month high of $34.20. The company has a market capitalization of $18.56 billion, a price-to-earnings ratio of 22.21, a price-to-earnings-growth ratio of 2.31 and a beta of 0.50.

Royalty Pharma (NASDAQ:RPRX - Get Free Report) last announced its earnings results on Tuesday, February 11th. The biopharmaceutical company reported $1.15 EPS for the quarter, beating analysts' consensus estimates of $0.99 by $0.16. Royalty Pharma had a return on equity of 24.40% and a net margin of 37.94%. As a group, research analysts predict that Royalty Pharma will post 4.49 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, Citigroup reissued a "buy" rating on shares of Royalty Pharma in a research note on Friday, March 28th. One analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Royalty Pharma presently has an average rating of "Buy" and an average target price of $42.50.

Royalty Pharma Company Profile

Royalty Pharma plc operates as a buyer of biopharmaceutical royalties and a funder of innovations in the biopharmaceutical industry in the United States. It is also involved in the identification, evaluation, and acquisition of royalties on various biopharmaceutical therapies. In addition, the company collaborates with innovators from academic institutions, research hospitals and not-for-profits, small and mid-cap biotechnology companies, and pharmaceutical companies.