Iridium Communications Inc (IRDM) to Issue Quarterly Dividend of $0.15 on September 30th

Iridium Communications Inc (NASDAQ:IRDM) announced a quarterly dividend on Monday, August 10th. Shareholders of record on Tuesday, September 15th will be given a dividend of 0.15 per share by the technology company on Wednesday, September 30th. This represents a c) dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Tuesday, September 15th.

Iridium Communications has a payout ratio of 45.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect Iridium Communications to earn $1.26 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 47.6%.

Iridium Communications Stock Performance

Shares of IRDM opened at $47.30 on Friday. The firm has a market cap of $5.01 billion, a PE ratio of 53.75, a PEG ratio of 3.82 and a beta of 0.87. The stock’s fifty day moving average price is $48.08 and its two-hundred day moving average price is $41.60. The company has a debt-to-equity ratio of 3.70, a current ratio of 2.78 and a quick ratio of 2.31. Iridium Communications has a 1 year low of $15.65 and a 1 year high of $57.18.

Iridium Communications (NASDAQ:IRDM) last posted its quarterly earnings results on Wednesday, July 22nd. The technology company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.19). Iridium Communications had a return on equity of 22.57% and a net margin of 10.55%.The firm had revenue of $225.24 million for the quarter, compared to the consensus estimate of $220.32 million. During the same quarter in the previous year, the company posted $0.20 EPS. The firm’s revenue was up 3.8% compared to the same quarter last year. On average, equities research analysts forecast that Iridium Communications will post 0.95 EPS for the current year.

About Iridium Communications

Iridium Communications Inc provides global satellite-based voice and data communications services. Its network is designed to support connectivity across land, oceans, airways and polar regions, serving customers in areas where terrestrial communications infrastructure is limited or unavailable.

The company offers satellite phones, broadband and narrowband data services, push-to-talk communications, and Internet of Things connectivity. Its product portfolio includes Iridium Certus broadband services, Iridium GO! satellite Wi-Fi products, satellite phones, specialized IoT services and solutions for asset tracking, monitoring and machine-to-machine communications.