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

ATN International, Inc. (NASDAQ:ATNI) declared a quarterly dividend on Wednesday, September 23rd. Investors of record on Saturday, October 3rd will be paid a dividend of 0.29 per share by the technology company on Friday, October 9th. This represents a c) dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend is Friday, October 2nd.

ATN International has increased its dividend by an average of 0.1%per year over the last three years and has raised its dividend annually for the last 3 consecutive years. ATN International has a payout ratio of -2,900.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect ATN International to earn $1.08 per share next year, which means the company may not be able to cover its $1.16 annual dividend with an expected future payout ratio of 107.4%.

ATN International Stock Down 1.3%

ATN International stock traded down $0.38 during mid-day trading on Thursday, hitting $28.70. The company’s stock had a trading volume of 10,123 shares, compared to its average volume of 75,757. The firm’s 50 day moving average is $28.55 and its 200 day moving average is $27.29. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.63 and a quick ratio of 1.59. ATN International has a 52-week low of $13.86 and a 52-week high of $33.41. The company has a market cap of $441.98 million, a PE ratio of 2.79, a price-to-earnings-growth ratio of 3.80 and a beta of 0.59.

Insider Transactions at ATN International

In related news, major shareholder Cornelius Prior, Jr. sold 10,000 shares of ATN International stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $31.34, for a total transaction of $313,400.00. Following the completion of the transaction, the insider directly owned 37,165 shares in the company, valued at $1,164,751.10. The trade was a 21.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Patricia Jacobs sold 1,500 shares of the company’s stock in a transaction on Monday, August 31st. The shares were sold at an average price of $30.04, for a total value of $45,060.00. Following the completion of the sale, the director owned 19,958 shares in the company, valued at $599,538.32. This represents a 6.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 62,138 shares of company stock valued at $1,930,313. 5.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On ATN International

Several institutional investors and hedge funds have recently bought and sold shares of ATNI. Legal & General Group Plc purchased a new position in shares of ATN International in the 2nd quarter worth $25,000. Meeder Asset Management Inc. acquired a new position in shares of ATN International during the 2nd quarter valued at $217,000. Canada Pension Plan Investment Board purchased a new stake in shares of ATN International in the second quarter worth about $220,000. Deutsche Bank AG purchased a new stake in shares of ATN International during the 2nd quarter valued at about $262,000. Finally, Algert Global LLC purchased a new position in ATN International in the 2nd quarter worth approximately $275,000. Institutional investors and hedge funds own 65.50% of the company’s stock.

About ATN International

ATN International, Inc is a telecommunications company that provides wireless and wireline communications services in rural and underserved markets. Its offerings include mobile and fixed wireless connectivity, broadband internet, voice services, fiber and enterprise connectivity, managed information technology services, wholesale telecommunications, and related infrastructure services.

The company serves customers in selected markets across the United States and the Caribbean. Its operations have included telecommunications networks and broadband services in Alaska and other rural U.S.