PLDT Inc. (NYSE:PHI) Increases Dividend to $0.99 Per Share

PLDT Inc. (NYSE:PHIGet Rating) declared a Semi-Annual dividend on Thursday, August 4th, Zacks reports. Stockholders of record on Wednesday, August 17th will be paid a dividend of 0.991 per share by the technology company on Tuesday, September 20th. The ex-dividend date of this dividend is Tuesday, August 16th. This is a positive change from PLDT’s previous Semi-Annual dividend of $0.81.

PLDT has a dividend payout ratio of 57.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect PLDT to earn $2.71 per share next year, which means the company should continue to be able to cover its $1.63 annual dividend with an expected future payout ratio of 60.1%.

PLDT Stock Performance

NYSE:PHI traded up $0.04 during trading on Friday, reaching $31.04. The company’s stock had a trading volume of 48,353 shares, compared to its average volume of 77,844. PLDT has a 12 month low of $23.71 and a 12 month high of $39.00. The company has a debt-to-equity ratio of 1.92, a quick ratio of 0.31 and a current ratio of 0.33. The firm has a 50 day moving average of $31.95 and a 200-day moving average of $34.47. The firm has a market cap of $6.71 billion, a price-to-earnings ratio of 11.29, a price-to-earnings-growth ratio of 1.45 and a beta of 0.31.

PLDT (NYSE:PHIGet Rating) last posted its earnings results on Thursday, May 5th. The technology company reported $0.68 EPS for the quarter. PLDT had a return on equity of 24.66% and a net margin of 15.14%. The business had revenue of $972.87 million during the quarter. Research analysts expect that PLDT will post 2.43 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Bank of America upgraded PLDT from a “neutral” rating to a “buy” rating in a report on Tuesday, June 21st.

Hedge Funds Weigh In On PLDT

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. grew its stake in shares of PLDT by 4.7% during the 1st quarter. BlackRock Inc. now owns 718,032 shares of the technology company’s stock valued at $25,232,000 after acquiring an additional 32,027 shares during the period. First Trust Advisors LP boosted its position in PLDT by 15.5% during the first quarter. First Trust Advisors LP now owns 212,420 shares of the technology company’s stock worth $7,464,000 after purchasing an additional 28,564 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in shares of PLDT by 303.3% in the first quarter. Arrowstreet Capital Limited Partnership now owns 36,364 shares of the technology company’s stock valued at $1,278,000 after purchasing an additional 27,348 shares in the last quarter. BNP Paribas Arbitrage SA acquired a new position in PLDT in the 1st quarter valued at about $457,000. Finally, Ethic Inc. purchased a new position in PLDT in the first quarter valued at approximately $379,000. Institutional investors own 2.76% of the company’s stock.

About PLDT

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PLDT Inc provides telecommunications and digital services in the Philippines. It operates through three segments: Wireless, Fixed Line, and Others. The company offers cellular mobile, Internet broadband distribution, operations support, software development, and satellite information and messaging services; and sells Wi-Fi access equipment.

See Also

Dividend History for PLDT (NYSE:PHI)

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