United Microelectronics Co. (NYSE:UMC) to Issue Annual Dividend of $0.29

United Microelectronics Co. (NYSE:UMCGet Rating) declared an annual dividend on Friday, June 3rd, Wall Street Journal reports. Shareholders of record on Wednesday, June 22nd will be given a dividend of 0.2866 per share by the semiconductor company on Thursday, July 21st. This represents a dividend yield of 7.1%. The ex-dividend date of this dividend is Tuesday, June 21st. This is a boost from United Microelectronics’s previous annual dividend of $0.29.

United Microelectronics has a dividend payout ratio of 55.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect United Microelectronics to earn $1.07 per share next year, which means the company should continue to be able to cover its $0.52 annual dividend with an expected future payout ratio of 48.6%.

UMC stock opened at $7.98 on Friday. United Microelectronics has a fifty-two week low of $7.49 and a fifty-two week high of $12.68. The business’s 50 day moving average price is $8.30 and its two-hundred day moving average price is $9.56. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.41 and a current ratio of 2.68. The company has a market capitalization of $19.83 billion, a price-to-earnings ratio of 8.31 and a beta of 1.03.

United Microelectronics (NYSE:UMCGet Rating) last posted its earnings results on Wednesday, April 27th. The semiconductor company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.02. United Microelectronics had a return on equity of 24.35% and a net margin of 28.39%. The firm had revenue of $2.22 billion for the quarter, compared to the consensus estimate of $2.23 billion. Sell-side analysts forecast that United Microelectronics will post 1.26 earnings per share for the current year.

Institutional investors have recently bought and sold shares of the stock. Belpointe Asset Management LLC grew its stake in shares of United Microelectronics by 52.6% in the 4th quarter. Belpointe Asset Management LLC now owns 21,519 shares of the semiconductor company’s stock worth $252,000 after buying an additional 7,417 shares during the last quarter. Mariner LLC purchased a new stake in shares of United Microelectronics in the 1st quarter worth approximately $246,000. Sequoia Financial Advisors LLC purchased a new stake in shares of United Microelectronics in the 4th quarter worth approximately $244,000. Royal Bank of Canada boosted its stake in United Microelectronics by 71.8% during the 3rd quarter. Royal Bank of Canada now owns 20,720 shares of the semiconductor company’s stock valued at $237,000 after purchasing an additional 8,660 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in United Microelectronics by 42.4% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 20,328 shares of the semiconductor company’s stock valued at $185,000 after purchasing an additional 6,051 shares during the last quarter. Institutional investors own 4.72% of the company’s stock.

Separately, StockNews.com upgraded United Microelectronics from a “buy” rating to a “strong-buy” rating in a research note on Thursday, May 5th. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy”.

About United Microelectronics (Get Rating)

United Microelectronics Corporation operates as a semiconductor wafer foundry in Taiwan, Singapore, China, Hong Kong, Japan, 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.

See Also

Dividend History for United Microelectronics (NYSE:UMC)

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