United Microelectronics Co. (NYSE:UMC) Declares Annual Dividend of $0.37

United Microelectronics Co. (NYSE:UMC - Get Free Report) declared an annual dividend on Friday, June 6th, Wall Street Journal reports. Shareholders of record on Tuesday, June 24th will be paid a dividend of 0.3661 per share by the semiconductor company on Wednesday, July 23rd. This represents a dividend yield of 4.6%. The ex-dividend date of this dividend is Tuesday, June 24th. This is a 2.8% increase from United Microelectronics's previous annual dividend of $0.36.

United Microelectronics has increased its dividend payment by an average of 17.4% per year over the last three years. United Microelectronics has a dividend payout ratio of 75.4% indicating that its dividend is currently covered by earnings, but may not be in the future if the company's earnings decline. Research analysts expect United Microelectronics to earn $0.69 per share next year, which means the company should continue to be able to cover its $0.46 annual dividend with an expected future payout ratio of 66.7%.

United Microelectronics Stock Up 1.1%

Shares of UMC traded up $0.09 during trading hours on Friday, hitting $7.61. The company had a trading volume of 4,502,511 shares, compared to its average volume of 13,243,109. The firm has a fifty day moving average price of $7.21 and a 200-day moving average price of $6.72. The stock has a market capitalization of $19.10 billion, a price-to-earnings ratio of 13.11, a P/E/G ratio of 4.44 and a beta of 1.15. United Microelectronics has a 52-week low of $5.61 and a 52-week high of $9.00. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.76 and a current ratio of 2.19.

United Microelectronics (NYSE:UMC - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The semiconductor company reported $0.09 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.10 by ($0.01). United Microelectronics had a net margin of 20.35% and a return on equity of 12.78%. The business had revenue of $1.78 billion for the quarter, compared to the consensus estimate of $57.63 billion. During the same period in the previous year, the company earned $0.13 earnings per share. The company's revenue for the quarter was up 1.9% compared to the same quarter last year. On average, equities research analysts forecast that United Microelectronics will post 0.51 EPS for the current fiscal year.

Institutional Trading of United Microelectronics

A hedge fund recently raised its stake in United Microelectronics stock. Jones Financial Companies Lllp grew its holdings in United Microelectronics Co. (NYSE:UMC - Free Report) by 1,794.6% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 62,656 shares of the semiconductor company's stock after buying an additional 59,349 shares during the period. Jones Financial Companies Lllp's holdings in United Microelectronics were worth $448,000 as of its most recent filing with the Securities & Exchange Commission. 5.05% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently issued reports on UMC. The Goldman Sachs Group restated a "sell" rating on shares of United Microelectronics in a research note on Friday, May 23rd. Citigroup upgraded United Microelectronics from a "strong sell" rating to a "strong-buy" rating in a research report on Friday, March 21st. Finally, Wedbush lowered shares of United Microelectronics from an "outperform" rating to a "neutral" rating in a research report on Wednesday, April 16th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $7.40.

United Microelectronics Company Profile

United Microelectronics Corporation operates as a semiconductor wafer foundry in Taiwan, China, Hong Kong, Japan, Korea, the United States, Europe, and internationally. The company provides circuit design, mask tooling, wafer fabrication, and assembly and testing services. It serves fabless design companies and integrated device manufacturers.

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