JOYY Inc. (NASDAQ:YY) Declares Dividend Increase – $0.93 Per Share

JOYY Inc. (NASDAQ:YY) announced a quarterly dividend on Friday, March 21st, Wall Street Journal reports. Investors of record on Thursday, April 17th will be paid a dividend of 0.93 per share by the information services provider on Wednesday, April 30th. This represents a $3.72 dividend on an annualized basis and a yield of 8.86%. The ex-dividend date is Thursday, April 17th. This is a 365.0% increase from JOYY’s previous quarterly dividend of $0.20.

JOYY Price Performance

YY stock traded up $0.75 during mid-day trading on Friday, reaching $41.98. 1,348,588 shares of the company traded hands, compared to its average volume of 462,656. The company has a fifty day moving average price of $45.97 and a 200-day moving average price of $39.95. JOYY has a 52-week low of $27.88 and a 52-week high of $55.31. The company has a market capitalization of $2.26 billion, a P/E ratio of 12.68 and a beta of 0.21.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on YY. StockNews.com lowered shares of JOYY from a “buy” rating to a “hold” rating in a report on Thursday, March 6th. Benchmark upgraded JOYY from a “hold” rating to a “buy” rating in a research report on Tuesday, February 25th.

JOYY Company Profile

JOYY Inc, together with its subsidiaries, operates social media platforms that offer users engaging and experience across various video-based social platforms. It operates through two segments, BIGO and All Other. The company operates Bigo Live, a social live streaming platform, that provides an interactive online stage for users to host and watch live streaming sessions, share their life moments, showcase their talents, and interact with people worldwide; Likee, a short-form video social platform, which enables users to discover, create, and share short videos, with video creation tools and personalized feeds; imo, an instant messenger platform, that provides audio and video communication services; Hago, a social networking platform that offers casual games integrating social features, such as audio and video multi-user chatrooms and 3D virtual interactive party games; and Shopline, a smart commerce platform, that provides solutions and services to enable merchants in creating and growing their brands online and reach customers through various sales channels, including e-commerce platforms, social commerce, and physical retail stores.