ATN International, Inc. (NASDAQ:ATNI) Announces Quarterly Dividend of $0.29

ATN International, Inc. (NASDAQ:ATNI) announced a quarterly dividend on Thursday, June 18th. Stockholders of record on Tuesday, June 30th will be given a dividend of 0.29 per share by the technology company on Wednesday, July 8th. This represents a c) annualized dividend and a dividend yield of 4.5%. The ex-dividend date is Tuesday, June 30th. This is a 5.5% increase from ATN International’s previous quarterly dividend of $0.28.

ATN International has increased its dividend payment by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 3 consecutive years. ATN International has a payout ratio of -2,750.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect ATN International to earn $1.23 per share next year, which means the company should continue to be able to cover its $1.10 annual dividend with an expected future payout ratio of 89.4%.

ATN International Stock Performance

Shares of NASDAQ ATNI opened at $25.76 on Friday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.16 and a current ratio of 1.21. The firm has a market cap of $396.19 million, a price-to-earnings ratio of -26.02, a P/E/G ratio of 3.47 and a beta of 0.54. The business’s 50-day simple moving average is $27.24 and its 200-day simple moving average is $25.58. ATN International has a 52 week low of $13.86 and a 52 week high of $30.45.

ATN International (NASDAQ:ATNI) last issued its quarterly earnings data on Thursday, May 7th. The technology company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.30). ATN International had a negative net margin of 1.20% and a positive return on equity of 0.55%. The company had revenue of $182.22 million during the quarter, compared to the consensus estimate of $183.40 million. As a group, equities research analysts expect that ATN International will post 0.74 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on ATNI shares. Wall Street Zen downgraded ATN International from a “buy” rating to a “hold” rating in a report on Saturday, March 21st. Weiss Ratings upgraded shares of ATN International from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, May 13th. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, ATN International currently has an average rating of “Hold”.

About ATN International

ATN International, Inc (NASDAQ: ATNI) is a diversified provider of telecommunications services that operates through a combination of wireless, wireline and broadband networks. Headquartered in Beverly, Massachusetts, the company offers a range of voice and data solutions to residential, commercial and wholesale customers. Its core offerings include long-distance voice services, fixed-line telephony, broadband internet access and network infrastructure solutions.

Through its business segments, ATN delivers tailored communications products to underserved markets across the Caribbean, Latin America, parts of the Pacific and select rural regions of the United States.