ATN International, Inc. (NASDAQ:ATNI) announced a quarterly dividend on Friday, September 15th, Wall Street Journal reports. Stockholders of record on Saturday, September 30th will be paid a dividend of 0.17 per share by the technology company on Monday, October 9th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date is Thursday, September 28th.

ATN International has increased its dividend payment by an average of 19.1% per year over the last three years and has raised its dividend every year for the last 15 years. ATN International has a payout ratio of 115.3% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect ATN International to earn $1.27 per share next year, which means the company may not be able to cover its $1.36 annual dividend with an expected future payout ratio of 107.1%.

Shares of ATN International (NASDAQ ATNI) traded down 4.39% during mid-day trading on Friday, hitting $51.85. The stock had a trading volume of 297,316 shares. ATN International has a 1-year low of $50.98 and a 1-year high of $87.82. The firm’s 50 day moving average price is $59.09 and its 200 day moving average price is $65.97. The company has a market cap of $839.66 million, a P/E ratio of 38.69 and a beta of 0.68.

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ATNI has been the subject of several research reports. BidaskClub upgraded ATN International from a “hold” rating to a “buy” rating in a research note on Friday, June 9th. Sidoti initiated coverage on ATN International in a research note on Friday, June 2nd. They issued a “buy” rating for the company. BWS Financial reduced their target price on ATN International from $64.00 to $57.00 and set a “hold” rating for the company in a research note on Monday, July 31st. ValuEngine upgraded ATN International from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. Finally, Zacks Investment Research downgraded ATN International from a “hold” rating to a “sell” rating in a research note on Wednesday, August 2nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $67.00.

In other news, SVP Leonard Q. Slap sold 1,000 shares of the firm’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $62.00, for a total value of $62,000.00. Following the completion of the sale, the senior vice president now directly owns 26,645 shares in the company, valued at approximately $1,651,990. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 32.70% of the company’s stock.

About ATN International

ATN International, Inc (ATN), formerly Atlantic Tele-Network, Inc, is a holding company. The Company’s segments include U.S. Telecom, International Telecom and Renewable Energy. In the United States, it provides wholesale wireless voice and data roaming services in rural markets to national, regional, local and selected international wireless carriers.

Dividend History for ATN International (NASDAQ:ATNI)

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