Uniti Group Inc. (NASDAQ:UNIT – Get Free Report) declared a quarterly dividend on Thursday, May 2nd, Zacks reports. Shareholders of record on Friday, June 14th will be given a dividend of 0.15 per share by the real estate investment trust on Friday, June 28th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 13.51%. The ex-dividend date is Friday, June 14th.
Uniti Group has increased its dividend payment by an average of 4.9% annually over the last three years. Uniti Group has a dividend payout ratio of 113.2% meaning 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 Uniti Group to earn $1.47 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 40.8%.
Uniti Group Price Performance
Shares of Uniti Group stock traded down $1.59 during trading on Friday, reaching $4.44. 21,065,721 shares of the company traded hands, compared to its average volume of 2,119,745. The firm has a market capitalization of $1.07 billion, a PE ratio of -24.67 and a beta of 1.40. The company has a 50 day moving average price of $5.88 and a 200-day moving average price of $5.49. Uniti Group has a 1-year low of $3.22 and a 1-year high of $6.71.
Analyst Ratings Changes
Check Out Our Latest Stock Analysis on Uniti Group
About Uniti Group
Uniti, an internally managed real estate investment trust, is engaged in the acquisition and construction of mission critical communications infrastructure, and is a leading provider of fiber and other wireless solutions for the communications industry. As of December 31, 2023, Uniti owns approximately 140,000 fiber route miles, 8.5 million fiber strand miles, and other communications real estate throughout the United States.
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