Fox Corp (FOX) Raises Dividend to $0.23 Per Share

Fox Corp (NASDAQ:FOX) announced a Semi-Annual dividend on Thursday, May 9th, Zacks reports. Investors of record on Monday, May 20th will be paid a dividend of 0.23 per share on Monday, June 3rd. The ex-dividend date is Friday, May 17th. This is a boost from FOX’s previous Semi-Annual dividend of $0.18.

FOX has increased its dividend payment by an average of 6.3% per year over the last three years. FOX has a dividend payout ratio of 23.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect FOX to earn $2.70 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 17.0%.

Shares of FOX stock opened at $37.23 on Thursday. The company has a quick ratio of 3.77, a current ratio of 4.60 and a debt-to-equity ratio of 0.78. FOX has a 12 month low of $35.21 and a 12 month high of $41.73.

FOX (NASDAQ:FOX) last announced its quarterly earnings data on Wednesday, May 8th. The company reported $0.76 EPS for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.10. The firm had revenue of $2.75 billion during the quarter. On average, research analysts predict that FOX will post 2.6 EPS for the current year.

A number of analysts recently commented on FOX shares. BidaskClub upgraded FOX from a “hold” rating to a “buy” rating in a research report on Saturday, March 9th. Zacks Investment Research upgraded FOX from a “hold” rating to a “buy” rating and set a $54.00 target price on the stock in a report on Thursday, January 24th. Finally, Royal Bank of Canada restated a “sell” rating and set a $41.00 target price on shares of FOX in a report on Monday, March 25th. They noted that the move was a valuation call.

In other FOX news, insider Lachlan K. Murdoch sold 316,317 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $51.20, for a total transaction of $16,195,430.40. Following the transaction, the insider now owns 618,374 shares in the company, valued at $31,660,748.80. The sale was disclosed in a document filed with the SEC, which is available through this link.

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FOX Company Profile

Fox Corporation operates as a news, sports, and entertainment company in the United States. The company operates through Cable Network Programming; Television; and Other, Corporate and Eliminations segments. The Cable Network Programming segment produces and licenses news, business news, and sports content for distribution primarily through cable television systems, direct broadcast satellite operators, telecommunications companies, and online video distributors.

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Dividend History for FOX (NASDAQ:FOX)

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