Telephone & Data Systems, Inc. (NYSE:TDS) announced a quarterly dividend on Friday, May 24th, Wall Street Journal reports. Stockholders of record on Friday, June 14th will be given a dividend of 0.165 per share by the Wireless communications provider on Friday, June 28th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date of this dividend is Thursday, June 13th.
Telephone & Data Systems has raised its dividend payment by an average of 4.3% per year over the last three years and has raised its dividend annually for the last 44 consecutive years. Telephone & Data Systems has a dividend payout ratio of 97.1% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities analysts expect Telephone & Data Systems to earn $1.15 per share next year, which means the company should continue to be able to cover its $0.66 annual dividend with an expected future payout ratio of 57.4%.
Telephone & Data Systems stock traded down $0.02 during midday trading on Wednesday, reaching $29.53. The company’s stock had a trading volume of 1,305 shares, compared to its average volume of 796,728. Telephone & Data Systems has a 52 week low of $24.00 and a 52 week high of $37.29. The company has a quick ratio of 2.25, a current ratio of 2.42 and a debt-to-equity ratio of 0.62. The stock has a market cap of $3.36 billion, a PE ratio of 25.21 and a beta of 1.03.
In other Telephone & Data Systems news, SVP Joseph R. Hanley sold 15,867 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $31.42, for a total value of $498,541.14. Following the transaction, the senior vice president now directly owns 13,768 shares of the company’s stock, valued at $432,590.56. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Clarence A. Davis sold 2,410 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $30.18, for a total value of $72,733.80. Following the completion of the transaction, the director now directly owns 9,500 shares in the company, valued at $286,710. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 62,277 shares of company stock worth $1,990,275. 14.33% of the stock is owned by insiders.
TDS has been the topic of several research reports. TheStreet cut Telephone & Data Systems from a “b-” rating to a “c+” rating in a report on Wednesday, May 1st. Zacks Investment Research lowered Telephone & Data Systems from a “hold” rating to a “sell” rating in a research note on Friday, March 1st. Finally, ValuEngine lowered Telephone & Data Systems from a “buy” rating to a “hold” rating in a research note on Saturday, March 30th. Two analysts have rated the stock with a sell rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $38.20.
Telephone & Data Systems Company Profile
Telephone and Data Systems, Inc, a telecommunications company, provides wireless, cable and wireline broadband, TV, voice, and hosted and managed services in the United States. It operates through three segments: U.S. Cellular, Wireline, and Cable. The company offers cellular services to postpaid and prepaid customers, including retail consumers, government entities, and small-to-mid-size business customers in industries, such as the construction, retail, agriculture, professional services, and real estate; and national plans with voice, messaging, and data usage options.
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