Tencent Music Entertainment Group Sponsored ADR (NYSE:TME) to Issue Annual Dividend of $0.24

Tencent Music Entertainment Group Sponsored ADR (NYSE:TME) announced an annual dividend on Tuesday, March 17th. Investors of record on Thursday, April 2nd will be given a dividend of 0.24 per share on Thursday, April 23rd. This represents a dividend yield of 238.0%. The ex-dividend date is Thursday, April 2nd. This is a 33.3% increase from Tencent Music Entertainment Group’s previous annual dividend of $0.18.

Tencent Music Entertainment Group has a payout ratio of 27.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Tencent Music Entertainment Group to earn $0.79 per share next year, which means the company should continue to be able to cover its $0.23 annual dividend with an expected future payout ratio of 29.1%.

Tencent Music Entertainment Group Trading Down 1.6%

Tencent Music Entertainment Group stock opened at $9.28 on Tuesday. Tencent Music Entertainment Group has a one year low of $9.22 and a one year high of $26.70. The company’s fifty day moving average price is $14.33 and its two-hundred day moving average price is $18.27. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.22 and a quick ratio of 2.22. The company has a market capitalization of $14.37 billion, a price-to-earnings ratio of 9.37, a PEG ratio of 0.62 and a beta of 0.56.

Hedge Funds Weigh In On Tencent Music Entertainment Group

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Green Court Capital Management Ltd increased its holdings in shares of Tencent Music Entertainment Group by 93.1% during the 3rd quarter. Green Court Capital Management Ltd now owns 1,039,078 shares of the company’s stock worth $24,252,000 after purchasing an additional 501,078 shares during the period. Campbell & CO Investment Adviser LLC bought a new stake in shares of Tencent Music Entertainment Group in the third quarter valued at about $4,257,000. SG Americas Securities LLC lifted its stake in shares of Tencent Music Entertainment Group by 85.7% in the fourth quarter. SG Americas Securities LLC now owns 542,198 shares of the company’s stock valued at $9,505,000 after buying an additional 250,261 shares during the period. OPTIMAS CAPITAL Ltd acquired a new stake in Tencent Music Entertainment Group during the third quarter worth about $9,150,000. Finally, AGF Management Ltd. grew its position in Tencent Music Entertainment Group by 86.5% during the third quarter. AGF Management Ltd. now owns 878,591 shares of the company’s stock worth $20,506,000 after buying an additional 407,400 shares in the last quarter. Institutional investors own 24.32% of the company’s stock.

About Tencent Music Entertainment Group

Tencent Music Entertainment Group (NYSE: TME) is a China-based digital music and audio entertainment platform that operates a portfolio of leading music streaming and social entertainment services. Its core consumer-facing products include streaming apps, online karaoke (KTV) services and live music and entertainment broadcasts. The company monetizes its content through a mix of subscriptions, digital music sales, in-app purchases, virtual gifting, advertising and licensing arrangements with rights holders.

The company traces its roots to the consolidation of Tencent’s music assets and was established in the mid-2010s to unify several prominent music properties under a single operating entity.