Fox Corporation (NASDAQ:FOXA) to Issue $0.28 Dividend

Fox Corporation (NASDAQ:FOXA) announced a dividend on Wednesday, February 4th. Stockholders of record on Wednesday, March 4th will be given a dividend of 0.28 per share on Wednesday, March 25th. This represents a dividend yield of 83.0%. The ex-dividend date is Wednesday, March 4th.

FOX has raised its dividend by an average of 0.0%annually over the last three years and has increased its dividend every year for the last 4 years. FOX has a dividend payout ratio of 13.3% meaning its dividend is sufficiently covered by earnings. Analysts expect FOX to earn $4.12 per share next year, which means the company should continue to be able to cover its $0.56 annual dividend with an expected future payout ratio of 13.6%.

FOX Price Performance

Shares of NASDAQ:FOXA traded down $2.54 during trading on Wednesday, reaching $67.73. 6,169,762 shares of the company’s stock traded hands, compared to its average volume of 3,400,763. The company has a quick ratio of 3.03, a current ratio of 3.24 and a debt-to-equity ratio of 0.54. FOX has a fifty-two week low of $46.42 and a fifty-two week high of $76.39. The company has a 50-day simple moving average of $71.67 and a 200-day simple moving average of $64.17. The firm has a market cap of $30.07 billion, a PE ratio of 15.22, a P/E/G ratio of 1.62 and a beta of 0.51.

FOX (NASDAQ:FOXA) last released its quarterly earnings results on Wednesday, February 4th. The company reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.35. FOX had a return on equity of 18.61% and a net margin of 12.35%.The company had revenue of $5.18 billion during the quarter, compared to analysts’ expectations of $5.02 billion. During the same quarter in the prior year, the firm posted $0.96 EPS. FOX’s quarterly revenue was up 2.0% compared to the same quarter last year. As a group, analysts predict that FOX will post 4.38 earnings per share for the current year.

About FOX

Fox Corporation (NASDAQ: FOXA) is a U.S.-based media company focused on television broadcasting, cable news and sports programming, and digital distribution. The company was formed in 2019 as the successor to certain assets of 21st Century Fox after a transaction that transferred many film and television studio assets to The Walt Disney Company. Fox Corp’s operations center on the Fox Broadcasting network, a portfolio of local television stations, national news and business cable networks, and sports media properties.

Fox produces, acquires and distributes a range of live and recorded programming, including news, opinion and commentary, national and local sports telecasts, and general entertainment.