Millicom International Cellular SA (TIGO) To Go Ex-Dividend on October 8th

Millicom International Cellular SA (NASDAQ:TIGO) announced a special dividend on Wednesday, May 21st. Stockholders of record on Wednesday, October 8th will be given a dividend of 1.25 per share by the technology company on Wednesday, October 15th. This represents a dividend yield of 620.0%. The ex-dividend date is Wednesday, October 8th.

Millicom International Cellular has a payout ratio of 86.2% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Analysts expect Millicom International Cellular to earn $2.84 per share next year, which means the company may not be able to cover its $3.00 annual dividend with an expected future payout ratio of 105.6%.

Millicom International Cellular Trading Up 0.9%

Shares of NASDAQ:TIGO opened at $48.15 on Monday. The business’s 50 day moving average price is $45.93 and its 200-day moving average price is $38.69. Millicom International Cellular has a 1 year low of $23.61 and a 1 year high of $50.78. The firm has a market capitalization of $8.29 billion, a price-to-earnings ratio of 8.49 and a beta of 1.11. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.89 and a quick ratio of 0.87.

Millicom International Cellular (NASDAQ:TIGO) last posted its quarterly earnings data on Thursday, August 7th. The technology company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.03). The company had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.40 billion. Millicom International Cellular had a return on equity of 10.32% and a net margin of 16.97%. On average, equities research analysts forecast that Millicom International Cellular will post 1.91 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Millicom International Cellular

Several hedge funds have recently modified their holdings of the stock. USA Financial Formulas acquired a new position in shares of Millicom International Cellular in the 2nd quarter valued at $30,000. EverSource Wealth Advisors LLC boosted its position in Millicom International Cellular by 55.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,413 shares of the technology company’s stock worth $53,000 after purchasing an additional 502 shares during the period. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Millicom International Cellular in the first quarter worth about $84,000. State of Wyoming grew its position in Millicom International Cellular by 123.4% in the second quarter. State of Wyoming now owns 4,655 shares of the technology company’s stock valued at $174,000 after acquiring an additional 2,571 shares in the last quarter. Finally, Orion Porfolio Solutions LLC purchased a new position in shares of Millicom International Cellular in the second quarter valued at $201,000.

Millicom International Cellular Company Profile

Millicom International Cellular SA provides cable and mobile services in Latin America. It offers mobile services, including mobile data and voice, and short message services; and mobile financial services, such as payments, money transfers, international remittances, savings, real-time loans, and micro-insurance.