PLDT Inc. (PHI) to Issue Dividend Increase – $0.94 Per Share
PLDT Inc. (NYSE:PHI) declared a semiannual dividend on Monday, August 14th, Wall Street Journal reports. Shareholders of record on Thursday, August 24th will be paid a dividend of 0.9411 per share by the technology company on Monday, September 18th. This represents a dividend yield of 5.57%. The ex-dividend date of this dividend is Tuesday, August 22nd. This is a boost from PLDT’s previous semiannual dividend of $0.56.
PLDT has decreased its dividend by an average of 7.8% per year over the last three years. PLDT has a payout ratio of 77.0% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities analysts expect PLDT to earn $1.97 per share next year, which means the company should continue to be able to cover its $1.88 annual dividend with an expected future payout ratio of 95.4%.
PLDT (NYSE PHI) opened at 33.76 on Tuesday. The firm’s 50 day moving average price is $33.93 and its 200-day moving average price is $33.15. The company has a market capitalization of $7.30 billion, a PE ratio of 15.31 and a beta of 1.01. PLDT has a one year low of $25.50 and a one year high of $40.75.
A number of analysts have recently weighed in on the company. BidaskClub downgraded PLDT from a “buy” rating to a “hold” rating in a research report on Wednesday, June 21st. Zacks Investment Research downgraded PLDT from a “buy” rating to a “hold” rating in a research report on Saturday, June 17th. TheStreet upgraded PLDT from a “d+” rating to a “c-” rating in a research report on Monday, June 5th. Credit Suisse Group downgraded PLDT from a “neutral” rating to an “underperform” rating in a research report on Wednesday, May 10th. Finally, Deutsche Bank AG downgraded PLDT from a “buy” rating to a “hold” rating in a research report on Monday, July 17th. Four investment analysts have rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $39.00.
PLDT Company Profile
PLDT, Inc, formerly Philippine Long Distance Telephone Company (PLDT), is a telecommunications service provider in the Philippines. The Company operates through three business segments: Wireless, Fixed Line and Others. The Company, through its business segments, offers a range of telecommunications services across the Philippines’ fiber optic backbone and wireless and fixed line networks.
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