Ubiquiti Inc. (NYSE:UI) Plans Dividend Increase - $0.80 Per Share

Key Points

• Ubiquiti Inc. announced a quarterly dividend of $0.80 per share, representing a 33.3% increase from the previous dividend of $0.60.
• The dividend will be paid to stockholders of record on September 2nd, with the payment scheduled for September 8th.
• As of the report, Ubiquiti's stock experienced a slight decline of 0.6% and has a market capitalization of $23.73 billion.

Ubiquiti Inc. (NYSE:UI - Get Free Report) declared a quarterly dividend on Friday, August 22nd, RTT News reports. Stockholders of record on Tuesday, September 2nd will be given a dividend of 0.80 per share on Monday, September 8th. This represents a c) dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Tuesday, September 2nd. This is a 33.3% increase from Ubiquiti's previous quarterly dividend of $0.60.

Ubiquiti has a payout ratio of 25.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect Ubiquiti to earn $8.10 per share next year, which means the company should continue to be able to cover its $2.40 annual dividend with an expected future payout ratio of 29.6%.

Ubiquiti Trading Down 1.4%

Shares of UI traded down $7.39 during mid-day trading on Wednesday, hitting $527.76. The company's stock had a trading volume of 101,729 shares, compared to its average volume of 112,544. The company's 50-day moving average is $429.18 and its 200-day moving average is $374.31. Ubiquiti has a 52-week low of $185.72 and a 52-week high of $543.99. The firm has a market capitalization of $31.92 billion, a price-to-earnings ratio of 45.05 and a beta of 1.35.

Ubiquiti (NYSE:UI - Get Free Report) last issued its quarterly earnings data on Friday, August 22nd. The company reported $3.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.23 by $1.31. The company had revenue of $759.15 million for the quarter, compared to analyst estimates of $618.80 million. Ubiquiti had a net margin of 27.66% and a return on equity of 166.22%. During the same period last year, the company posted $1.74 earnings per share. As a group, sell-side analysts predict that Ubiquiti will post 7.21 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ubiquiti

Institutional investors and hedge funds have recently bought and sold shares of the company. Golden State Wealth Management LLC acquired a new stake in shares of Ubiquiti in the first quarter valued at $25,000. Brooklyn Investment Group lifted its position in shares of Ubiquiti by 78.8% during the 1st quarter. Brooklyn Investment Group now owns 93 shares of the company's stock worth $29,000 after purchasing an additional 41 shares during the last quarter. Cullen Frost Bankers Inc. lifted its holdings in Ubiquiti by 1,075.0% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 94 shares of the company's stock worth $39,000 after buying an additional 86 shares during the last quarter. Main Street Group LTD acquired a new position in Ubiquiti in the second quarter valued at approximately $41,000. Finally, Versant Capital Management Inc boosted its holdings in shares of Ubiquiti by 484.2% in the 1st quarter. Versant Capital Management Inc now owns 111 shares of the company's stock valued at $34,000 after buying an additional 92 shares in the last quarter. 4.00% of the stock is currently owned by institutional investors and hedge funds.

About Ubiquiti

Ubiquiti Inc develops networking technology for service providers, enterprises, and consumers. The company develops technology platforms for high-capacity distributed Internet access, unified information technology, and consumer electronics for professional, home, and personal use. Its service provider product platforms offer carrier-class network infrastructure for fixed wireless broadband, wireless backhaul systems, and routing and related software; and enterprise product platforms provide wireless LAN infrastructure, video surveillance products, switching and routing solutions, security gateways, door access systems, and other WLAN products.