Iridium Communications Inc (IRDM) to Issue Quarterly Dividend of $0.15 on December 31st

Iridium Communications Inc (NASDAQ:IRDM) declared a quarterly dividend on Thursday, December 4th. Investors of record on Monday, December 15th will be paid a dividend of 0.15 per share by the technology company on Wednesday, December 31st. This represents a c) dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date is Monday, December 15th.

Iridium Communications has a payout ratio of 45.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Iridium Communications to earn $1.24 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 48.4%.

Iridium Communications Stock Performance

IRDM opened at $17.74 on Friday. The company has a debt-to-equity ratio of 4.02, a quick ratio of 1.93 and a current ratio of 2.67. The stock has a market capitalization of $1.86 billion, a price-to-earnings ratio of 15.70, a PEG ratio of 1.12 and a beta of 0.61. The company has a fifty day moving average of $17.67 and a 200 day moving average of $23.01. Iridium Communications has a fifty-two week low of $15.65 and a fifty-two week high of $34.45.

Iridium Communications (NASDAQ:IRDM) last announced its quarterly earnings results on Thursday, October 23rd. The technology company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.26 by $0.09. The business had revenue of $226.94 million for the quarter, compared to analysts’ expectations of $222.13 million. Iridium Communications had a net margin of 14.44% and a return on equity of 24.93%. The business’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.21 EPS. As a group, sell-side analysts forecast that Iridium Communications will post 0.89 earnings per share for the current fiscal year.

Iridium Communications Company Profile

Iridium Communications Inc provides mobile voice and data communications services and products to businesses, the United States and international governments, non-governmental organizations, and consumers worldwide. The company offers postpaid mobile voice and data satellite communications; prepaid mobile voice satellite communications; push-to-talk; broadband data; and Internet of Things (IoT) services.