Meta Platforms, Inc. (META) to Issue Quarterly Dividend of $0.53 on June 25th

Meta Platforms, Inc. (NASDAQ:META) declared a quarterly dividend on Thursday, May 28th. Investors of record on Monday, June 15th will be paid a dividend of 0.525 per share by the social networking company on Thursday, June 25th. This represents a c) annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Monday, June 15th.

Meta Platforms has a dividend payout ratio of 7.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Meta Platforms to earn $35.02 per share next year, which means the company should continue to be able to cover its $2.10 annual dividend with an expected future payout ratio of 6.0%.

Meta Platforms Stock Down 0.3%

Shares of NASDAQ META opened at $566.98 on Friday. The firm has a market cap of $1.43 trillion, a PE ratio of 20.61, a P/E/G ratio of 1.01 and a beta of 1.23. Meta Platforms has a 12-month low of $520.26 and a 12-month high of $796.25. The company’s fifty day simple moving average is $621.15 and its 200 day simple moving average is $635.89. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 0.24.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, April 29th. The social networking company reported $10.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.67 by $3.77. The business had revenue of $56.31 billion for the quarter, compared to analyst estimates of $55.56 billion. Meta Platforms had a net margin of 32.84% and a return on equity of 36.93%. Meta Platforms’s revenue was up 33.1% on a year-over-year basis. During the same period in the prior year, the firm earned $6.43 earnings per share. As a group, sell-side analysts forecast that Meta Platforms will post 29.35 earnings per share for the current fiscal year.

About Meta Platforms

Meta Platforms, Inc (NASDAQ: META), formerly Facebook, Inc, is a global technology company best known for building social networking services and immersive computing platforms. Founded in 2004 and headquartered in Menlo Park, California, the company operates a family of consumer-facing products and services that connect users, creators and businesses. In October 2021 the company rebranded as Meta to reflect an expanded strategic focus on augmented and virtual reality technologies alongside its social media businesses.

Meta’s core consumer products include Facebook, Instagram, WhatsApp and Messenger, which enable social networking, messaging, content sharing and community building across mobile and desktop devices.